[Marxism] The Unknowable Fallout of China’s Trade War Nuclear Option

[Dennis Brasky via Marxism]

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China holds more than a trillion dollars in United States debt, and an
escalating trade war could tempt it to wield that debt in a way that has
long been unthinkable.

It is often called the nuclear option.

In the trade war between the United States and China, economists and
investors have long tried to game out how both sides might use their clout.
In virtually all the predictions, at least until recently, they revolved
around a tit-for-tat tariff war.

Even in the gloomiest of doomsday scenarios, there is one weapon that has
long been considered unthinkable: the Chinese, the biggest holder of United
States foreign debt with more than $1 trillion, publicly taking a step back
from buying United States Treasuries — or worse, dumping what they own in
the open market.

The very idea is typically dismissed as a waste of time to even consider,
and the reason is a sort of mutually assured destruction. It would be
wildly irrational in economic terms, the thinking goes. China selling
Treasuries would send interest rates up and hurt the United States, but it
would simultaneously severely damage the value of China’s own Treasury
holdings. As the industrialist J. Paul Getty famously said, “If you owe the
bank $100, that’s your problem; if you owe the bank $100 million, that’s
the bank’s problem.” In the United States-China relationship, China is very
clearly the bank.

Still, critics who dismiss the possibility of China trying to upend the
United States Treasury market say that China’s own economy is too fragile
to risk doing anything that would cause instability.

https://www.nytimes.com/2018/10/09/business/dealbook/china-trade-war-nuclear-option.html
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[Marxism] #ChurchToo

[Ken Hiebert via Marxism]

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Only today did I discover that there has been an echo of the #MeToo movement in 
a number of churches.
ken h

https://www.motherjones.com/crime-justice/2018/08/the-churchtoo-movement-just-scored-a-historic-victory-for-victims-of-sexual-abuse-willowcreek-community-church-bill-hybels/
 

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[Marxism] “The Uyghurs of Kazakhstan have been pressured into inactivity”

[Louis Proyect via Marxism]

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https://m.facebook.com/notes/gene-bunin/the-uyghurs-of-kazakhstan-have-been-pressured-into-inactivity/2271471456418034/
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[Marxism] Ireland: the housing crisis and how to fight it

[Philip Ferguson via Marxism]

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Yesterday (Oct 3) saw thousands of people mobilise in response to a call
from housing groups, trade unions and political parties to ‘Raise The Roof’
in response to the housing scandal in the Twenty-Six Counties. The rally
was organised by the Irish Congress of Trade Unions and supported by the
National Women’s Council, the Union of Students in Ireland and others.
These organisations represent hundreds of thousands of Irish workers, women
and students that are being adversely affected by the chaos of privatised
housing. The fact that such a breadth of ‘civic society’ is now coming
together with housing and homelessness organisations to demand housing
justice is a very welcome development.

Housing has been Éirígí’s key campaigning issue for close to three years.
During that time our activists have consistently worked to build a mass
campaign for housing justice. To this end we have distributed tens of
thousands of pieces of literature; organised countless public meetings;
participated in direct actions; helped form housing action groups and
homeless outreach groups; networked with other like-minded individuals and
organisations to build alliances in support of our key housing demands.

All of this work has been informed by our key housing demand, namely the
creation of a new

full at:
https://theirishrevolution.wordpress.com/2018/10/10/eirigi-on-the-housing-crisis-and-how-to-fight-it/
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[Marxism] The Russian Ukrainian Underground A People’s Revolt Against Stalin

[Andrew Pollack via Marxism]

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New at MIA:
https://www.marxists.org/history/etol/newspape/ni/vol15/no04/vsf.html
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[Marxism] How capitalism works

[Philip Ferguson via Marxism]

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According to economics.about.com, “In every economic system, entrepreneurs
and managers bring together natural resources, labor, and technology to
produce and distribute goods and services.” They do qualify this by
claiming, “But the way these different elements are organized and used also
reflects a nation’s political ideals and its culture.” (They also note
Marx’s description of a capitalist economy as one in which a small group of
people who control wealth make the key economic decisions.)

It’s important to understand that the idea that every economic system has,
or requires, “entrepreneurs and managers” in order to operate is factually
wrong. For most of the time that human beings have existed we lived in
collective societies, without entrepreneurs and managers. Different social
classes only arose about 10,000 years ago and it’s only in the past few
hundred years that capitalism has been the dominant global system. Facts,
however, have never been allowed to get in the way of capitalist ideology –
that is, the set of ideas which seek to justify the present system and
usually do so by making it appear that capitalism is ‘natural’ and eternal.

Capitalism, however, is neither. It arose at a particular point in time,
due to particular circumstances. Ultimately, it was a product of human
action and can be abolished by human action too. . .

full at:
https://rdln.wordpress.com/2011/07/21/how-capitalism-works-and-doesnt-work/
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[Marxism] Finance and imperialism today

[Philip Ferguson via Marxism]

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Philip Ferguson: Could you tell us a little bit about your political
background and how you chose to do your PhD on British imperialism today?

Tony Norfield: The PhD that I completed in 2014 was titled ‘British
imperialism and
finance: a contribution to the theory of contemporary imperialism’. I
thought I had something new to The City, front cover of Verso booksay on
these questions, both because ‘British imperialism’ was a term that
nowadays seemed to be used only for the colonial period and because, as far
as I could see, nothing had been done on this topic relating to the UK
since the 1980s, ie before the recent decades in which the financial system
had become such a major issue. I have long had an interest in ‘finance’ and
capitalism, since well before I ended up, much to my surprise, in getting a
job in a bank dealing room.

I have always been interested in how things work economically/socially.
Initially, as a teenager, this led me to be a left-wing Keynesian, as I
thought the capitalist economy could be more progressively managed. Later,
at university, I was attracted by Marxist analysis as it made much more
sense! I have been a Marxist ever since. My jobs have also been in
economics and business, and these have provided so-called ‘real world’
experience with which to judge and develop Marxist theory. . .

full at:
https://rdln.wordpress.com/2016/02/29/interview-with-tony-norfield-on-finance-and-the-imperialist-world-system-today/
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[Marxism] How the Communist Blacklist Shaped the Entertainment Industry As We Know It | Carol A. Stabile | Literary Hub

[Kevin Lindemann and Cathy Campo via Marxism]

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https://lithub.com/how-the-communist-blacklist-shaped-the-entertainment-industry-as-we-know-it/


Sent from my iPhone

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[Marxism] Shahed Hussain, the FBI sting artist who has the blood of 20 limousine passengers on his hands | Louis Proyect: The Unrepentant Marxist

[Louis Proyect via Marxism]

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https://louisproyect.org/2018/10/09/shahed-hussain-the-fbi-sting-artist-who-has-the-blood-of-20-limousine-passengers-on-his-hands/
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[Marxism] bellingcat - Full report: Skripal Poisoning Suspect Dr. Alexander Mishkin, Hero of Russia - bellingcat

[Louis Proyect via Marxism]

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https://www.bellingcat.com/news/uk-and-europe/2018/10/09/full-report-skripal-poisoning-suspect-dr-alexander-mishkin-hero-russia/
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[Marxism] The Word “Socialist” Has Almost Disappeared from U.S. Ballots | Ballot Access News

[Louis Proyect via Marxism]

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http://ballot-access.org/2018/10/08/the-word-socialist-has-almost-disappeared-from-u-s-ballots/
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[Marxism] The Screenwriting Mystic Who Wanted to Be the American Führer | History | Smithsonian

[Louis Proyect via Marxism]

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https://www.smithsonianmag.com/history/meet-screenwriting-mystic-who-wanted-be-american-fuhrer-180970449/
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[Marxism] Syria/Idlib: Turkish Army Attacks HTS in Implementing the Sochi Surrender Deal

[RKOB via Marxism]

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*/Are we witnessing the last stand of the Syrian Revolution?/*

https://www.thecommunists.net/worldwide/africa-and-middle-east/turkish-army-attacks-hts-in-implementing-sochi-surrender-deal/

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