Comments on: The failure of the NEW new economics https://didacticmind.com/2022/05/the-failure-of-the-new-new-economics.html Strategic Defence of the Mantle of Responsibility Sun, 29 May 2022 19:25:04 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Joe https://didacticmind.com/2022/05/the-failure-of-the-new-new-economics.html#comment-7145 Sun, 29 May 2022 19:25:04 +0000 https://didacticmind.com/?p=15465#comment-7145 How far off were estimates re: Russia’s economy because of these fallacies? And what if you applied the same corrections to China?

Russia stops becoming Span or Mexico, passes Germany, and looks much more like Japan.

China is suddenly significantly ahead of the USA.

https://www.tabletmag.com/sections/news/articles/is-america-the-real-victim-of-anti-russia-sanctions

]]> By: Jim S https://didacticmind.com/2022/05/the-failure-of-the-new-new-economics.html#comment-7138 Fri, 27 May 2022 21:02:37 +0000 https://didacticmind.com/?p=15465#comment-7138 It is quite amazing, as I type this comment, watching the real-time collapse of the USSA and the West. Your 2025 prediction may be late, as is Vox’s 2033 prediction. My prediction of somewhere between 2025 and 2033 is also late.

Looking at the USSA’s inflation rate of “8.3%”, I laugh. It is probably in the neighborhood of 20%, if it was still measured the way it was in 1970’s and earlier (the change happened in 1979, to try and make Carter look better). The Fed (which should be burned to the ground, bombed, burned again and then salted) is so far behind the curve after kicking the can down the road for about 14 years. A recession will occur and is occurring right now. Oh and Keynes sucked. Had his excrement shoved down my throat in college, glad I discovered Hazlitt years ago.

Russia is the best positioned economy to date. PERIOD. Very little debt, resource rich (in many ways), and a currency that is backed by something other than air. People in the west do not understand this at all. Simply amazing.

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