Evan Buswell
@ecbuswell
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Marx | code | credit | math | music | electronics See @nsinstruments for modular instruments
Sebastopol, CA
Joined January 2010
More bank failures. But bourgeois economists are consistently incapable of reading signs instead of analyzing incidents: “The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis.” (Hoover Oct 25 1929).
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In case you didn’t notice, the organizing principle of art is no longer “how can we make art when capitalism(/tradition/media) co-opts everything?” but instead “how can we make art when capitalism refuses to co-opt us?” If this isn’t a sign of a serious crisis idk what is.
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Academia makes a lot more sense when you realize one of its central goals is to create the distinction between certified and uncertified knowledge, and then to drive the comparative value of uncertified knowledge to zero.
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So…if we all think there is a looming social or personal apocalypse, borrowing more money than we can reasonably expect to pay back becomes rational. And then manifests as a momentary uptick in consumption. “Apocalyptic exuberance”?.
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Maybe politicians can explain to their constituents how (when total domination is no longer/not yet an option) international relations can only be detente/compromise or total war, and compromise is much better. Just kidding! We’re all going to die.
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Seeing Richard Wright in there breaks my heart.
Yesterday we logged almost 200 challenges- about 150 of those resulted in immediate removals. This is a picture of all the books removed from one HS library, in one day, in one District, due to the objections of one man. This is not freedom. #FreeTheBooks
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The history of electoral leftism over the last 100 years has almost entirely consisted of elected officials making common cause with left-leaning liberals against revolutionary leftist movements and the working class. So why are you surprised???.
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Everything for everyone! ❤️❤️❤️🥹.
Two autonomous collectives at UCSB & UC Davis have just simultaneously liberated two dining commons: De La Guerra @ UCSB & Latitude at Davis. Both are serving free meals to all until 3pm."Why it is that in the best public university system in the US, so many students are hungry?"
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Solidarity w the UC strikers! ❤️❤️❤️ Everything for everyone!.
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Ugh, y’all know Usenet and hotline were peak internet platforms and everything will always be garbage from now on.
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As the commodity form dissolves, real abstraction becomes real hilarity.
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Does loan forgiveness cost too much? Does lowering taxes on the wealthy actually generate revenue? Just remember how tax cuts in the UK crashed the pound and loan forgiveness in the US didn’t affect the dollar’s rise. They know these arguments are specious.
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I mean, I think it’s ok to say “hey there was this painting that I kind of liked and I like it less when covered in tomato soup and that makes me a little sad.” It’s not a war of ideas but it is normal and ok to experience ideas.
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If we don’t believe in the political primacy of ideas to actions, then Van Gogh vs climate awareness is not a political question at all.
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Monetary and economic systems are complex, and I don’t know for sure what will happen. But I suspect pundits who are worried about this are being disingenuous. Actually, I suspect this mass cancellation is only thinkable right now *because* of the current inflationary economy.
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Even assuming the latter, what this actually means is that people who had their wages effectively lowered by a debt burden are now on par with everyone else. And since, from a consumer POV, inflation means effectively lower wages, this may cause inflation, but it helps workers.
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That being said, the way that assets are reshuffled might make money behave differently. OT1H, there could be a multiplier where fewer bank assets means fewer loans which means even less money. OTOH, it could mean that workers have more money to spend and circulating money rises.
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The only way debt cancellation can fail to decrease the money supply is if loans are taken out in order to cancel other loans. And then the total supply stays the same. All of this talk of “printing money” wrt debt cancellation is total nonsense.
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In the banking system as a whole, debt is counted twice: once in the recipient’s account, and once in the loan provider’s account. Cancelling debt means erasing one of those entries, whether bc they received money from another account or bc the entry was simply erased.
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