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The headquarters of the Eurasian Economic Commission (EEC) in Moscow, linked to the Eurasia Economic Union (EAEU) is arguably one of the most crucial nodes of the emerging multipolar world.
The failure of Silicon Valley Bank (16th largest bank in US) last Friday resulted from depositors withdrawing their funds in response to a drop in value of the bank’s bond portfolios caused by the Federal Reserve’s ill-considered hikes in interest rates. The mindless policy implemented by the Federal Reserve cures inflation by producing bank runs, failed banks, and unemployment. The Federal Reserve and neoliberal economists are still stuck in the worn out thinking of 20th century Keynesianism.
One of the most popular and debated arguments is the West's theft of Russia's foreign reserves and, consequently, the blaming of the liberal bloc government for placing them. I am far from a supporter of liberalism, in fact I am an irreconcilable opponent of it, but it is still worth getting to the bottom of the myths and propaganda.
Let me tell you a story: The year is 1933. The German economy is in shambles. The war has left the country battered and bruised. The Treaty of Versailles has forced Berlin to pay war reparations. How much? 132 billion Gold Marks.
First: One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.”
A strategic aim would require a unitary purpose that could be succinctly outlined. It would require additionally a compelling clarity about the means by which the aim would be achieved and a coherent vision about what a successful outcome would actually look like.
A year ago, Meta was at the top of the “Metaverse”. The company recently completed a rebranding from Facebook to Meta. Social media, as Mark Zuckerberg explained, will no longer be the company's sole focus. “From now on, we will be Metaverse first, not Facebook”, he said.
To win in the Special Military Operation requires the economic mobilization of the country. The Special Military Operation has been going on for almost ten months and there are no signs of such mobilization.
Anyone who has ever opened a good textbook on political economy cannot have failed to notice how it is intrinsically linked to resource scarcity. Political economy is that human science that deals with the production and distribution of wealth, price formation and, especially in the neoclassical framework, the maximisation of utility and profit functions. Economics was born as a science to optimise scarce resources. Scarcity is, therefore, the key concept on which the entire economic philosophy rests and which finds its justification in Ricardo's 'law of diminishing returns'.
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