I never get tired of tooting #GregJericho ‘s articles, because what he says, most of the time, is not just informative, it’s a booster shot against the #FakeNews and #EconomicMisInformation the #msm spews out — unfortunately with that much misinformation being the main narrative of all but a few news outlets and the #FifthEstate, a lot of it is bound to be believed as truth: like the furphy about increasing wages driving up inflation — everyone should know by now the inflationary dragon is #GreedFlation.

“There hasn’t been a wage breakout since I was in primary school but do not worry – the RBA is still on the watch, ever on alert to raise interest rates in an effort to increase unemployment and lower wage growth.”
Read more:
https://www.theguardian.com/business/grogonomics/2026/feb/18/real-wages-fall-australia-workers-economy

But the RBA is not about to let a debuked economic theory go to waste. So Greg is warning us of another rate rise likely to come if the RBA stays true to form — and why shouldn’t it?

Read more:
https://thepoint.com.au/opinions/260220-dont-panic-rba-low-unemployment-is-a-good-thing

#RBA #NeoClassicalEconomics #NeoLiberalEconomics #AusPol #CashRate #Inflation #WageGrowth

As real wage growth falls again, Australian workers must feel the economy is rigged against them

The RBA never misses a chance to blame wages for rising prices but data shows profit-driven inflation is back

The Guardian

"AI" / LLMs take the late great David Grabers concept of Bullshit Jobs to new heights.

Bullshit Jobs are when people are paid to do useless things in order to keep them busy. They shuffle information around and do generally useless work instead of doing something useful like... working in care, education, community organizing, art, craft, music, saving the planet and tens of thousands of other genuinely useful things that pay peanuts.

Perhaps people are "encouraged" to work in Bullshit Jobs (the alternative is being penniless after all) to **stop** them working in genuinely useful jobs like care, saving the planet etc.

The other reason for the existence of Bullshit Jobs is that people working in Bullshit Jobs are paid well enough to become consumers themselves. They become Bullshit Consumers who can afford to buy Bullshit Products. These are the sort of products neo-liberal capitalism adores.

Robot vacuum cleaners that stop working when the company that sells them goes broke. Light bulbs that require an internet connection to turn on an off (and for AWS to not have an outage) Cars where the heated seats are a subscription service. All subscription services in general. Built in obsolescence. Shoddy products that start to fall as soon as you start to use them. Fast fashion. E-readers that are a poor replacement for a physical book. Operating systems that force advertisements onto users computers. Advertisements in general. The list goes on and on...

All of this creates Bullshit Economics. People doing useless, worthless work in order to consume useless, worthless products. All because capitalism demands continual growth. We are told "there is no alternative"

Now the oligarchs running the world(s economy) think that they can use AI to automate Bullshit Jobs in order to avoid paying humans to do the work. The LLMs are designed and coded to be plausible not to be correct so in many ways they are nothing but Bullshit Generators. The oligarchs hope to replace billions of people doing Bullshit Jobs with vast data centers churning out Bullshit

Data centers cost billions and become wholly obsolete in every 5 years so in many ways they are Bullshit Products themselves. I don't think building a data center the size of a small country which requires the power and water resource of several small countries to operate will replace billions of Bullshit Consumers buying Bullshit Products. Even if you need a new one in 5 years time.

Newly redundant Bullshit Consumers wont be able to buy anything at all if they don't have a Bullshit Job or they are forced to become climate refugees. The Bullshit Economy **has** to collapse sooner or later. Infinite growth on a finite planet is literally insane. So is the fantasy of founding a fascist colony on Mars.

According to neo-liberal capitalist economics the world will be a better place once the Bullshit Generators do all the Bullshit Jobs in the Bullshit Economy as the oligarchs will be even more incredibly wealthy. Which is nice...

What are billionaires saving up for anyway, Hell?

#AI #LLMs #BullshitJobs #DataCenters #NeoLiberalEconomics #Oligarchy #BullshitProducts #DavidGraber #BullshitEconomics

Decades of Denial: How GOP Profit Politics Broke American Healthcare

Republicans didn’t fail healthcare—they designed it this way. From Nixon to today, profit has always come before patients.

#ACASubsidies #AmericanHealthcare #corporateGreed #GOPHealthcarePolicy #healthInsuranceCrisis #MedicareForAll #neoliberalEconomics #NixonHealthcare #ProgressivePolitics #RepublicanSabotage

https://wp.me/p1OjMZ-ou7

As an anprim this quote had an instant appeal for me

https://www.instagram.com/p/DQH6mx3klwV/

I think the part about describing how modern society is in itself insane and neo-liberal capitalist economics reduces humans into individual economic units and devalues all forms of co-operation is valid.

Catch22 states that if you live in a world that is insane the only sane response is to become insane yourself.

The author then goes on to claim that if humans go back to living in a small tribes that are in harmony with nature then all mental illnesses will disappear.

Except its not like that. The rates of mental illness of all types in existing hunter-forager or subsistence agricultural societies are broadly similar to those seen "Western civilization".

What is different with "primitive" societies with regards to mental health is how individuals experiencing mental health issues or neurospicyness are treated by the other members of the society.

Someone who is a dreamer and who struggles to concentrate is given a label of ADHD in the West. They have to struggle in jobs they are not suited too. In a "primitive" society they might spend their time caring for the elderly or looking after livestock.

Someone living in "civilisation" who experiences hallucinations is highly likely to be heavily medicated and / or institutionalised. In a hunter-forager society or even more "modern" societies they might have been a shaman or priest. The gods and goddesses talk to them after all. Or they might be a warrior chieftain who revels in the slaughter of the battlefield instead of being labelled a psychopath and running a multi-billion dollar corporation.

Its easy to imagine someone reading the glib statement in the insta post and being inspired to get back to nature. They might become farmer on a small holding or homestead for example. They will get muddy and be closer to nature in a personal sense. They will still have to operate within globalised neo-liberal capitalism. Their mental health issues may improve but they wont go away as the root causes are the same.

It will take a lot more writing to pin down what I think needs to be done to move humanity closer to nature in the future.

#anprim #AnarchoPrimitivism #BackToNature #HunterForager #MentalHealth #capitalism #NeoLiberalEconomics #society #nature #ecology

Jay Lesoleil on Instagram: "Source: revealed to me in a vision"

20K likes, 31 comments - jaylesoleil on October 22, 2025: "Source: revealed to me in a vision".

Instagram

A weapons grade idiot. She was so dumb that she actually believed in neo-liberal economics, rather than using it as a smoke screen to enrich the already wealthly. Now she blames the "deep state" for the failure of her govt that lasted less that 50 days and nearly crashed the UK's already faltering economy.

#liztruss #idiots #ukpolitics #NeoliberalEconomics #auspol

https://www.youtube.com/watch?v=1g1adzhmcCY

Liz Truss: The Best Argument Against Free Market Fundamentalism

YouTube
Business Stuff doesn't make any sense till I remember the principle (maxim? another vile maxim?) of the "Invisible Foot" explained by E.K. Hunt.
> .. The "invisible foot" ensures us that in a free-market ... economy each person pursuing only his own good will automatically, and most efficiently, do his part in maximizing the general public misery.
- https://mstdn.jp/@bsmall2/108195742682747173
- https://znetwork.org/wp-content/uploads/zbooks/www/books/3/3.htm#3.2.1
#EKHunt #InvisibleFoot #BusinessStuff #WelfareEconomics #NeoLiberalEconomics #DismalProfession
bs2 (@[email protected])

> .. The "invisible foot" ensures us that in a free-market ... economy each person pursuing only his own good will automatically, and most efficiently, do his part in maximizing the general public misery. https://zcomm.org/wp-content/uploads/zbooks/www/books/3/3.htm#3.2.1 #InvisibleFoot #PublicMisery #FreeMarkets #RobertDArge #EKHunt

mstdn.jp
Self-styled Robin Hoods 'steal from M&S to give to food banks' and vow to target other supermarkets

Activists accuse supermarkets of profiteering and say they also plan to target other chains

The Telegraph

RT by @catherinerowett: How is Covid transmitted? Droplets or aerosols? Throughout the pandemic, the UK’s response was dominated by the droplet theory. As a result...

-- Stephen McNair reports on a @bmj_latest paper by @trishgreenhalgh

#COVID
#NeoliberalEconomics

https://eastangliabylines.co.uk/how-did-we-get-covid-so-disastrously-wrong/

🐦🔗: https://nitter.cz/BylinesEast/status/1721763660689715664#m

[2023-11-07 05:37 UTC]

How did we get Covid so disastrously wrong?

A new paper argues that the UK’s policy response to Covid response was a disaster, driven by ideology and the wrong science

East Anglia Bylines

.> In his book on globalization, The Lexus and the Olive Tree, Friedman says, and I quote, “The hidden hand of the market will never work without the hidden fist. McDonalds cannot flourish without McDonnell Douglas…and the hidden fist that keeps the world safe for Silicon Valley’s technologies to flourish is called the U.S. Army, Air Force, Navy, and Marine Corps.” Perhaps this was written in a moment of vulnerability, but it’s certainly the most succinct, accurate description of the project of corporate globalization that I have read. #ArundhatiRoy in her speech #ComeSeptember quotes #ThomasFriedman on the #InvisibleHand with #HiddenFist about which he may haver written in a "moment of vulnerability." Maybe E.K. Hunt's "Invisible Foot" caught him a good one that day and he slipped, blurted out a clearer way of seeing #CorporateGlobalization, #FreeMarkets, #NeoLiberalEconomics....
-
https://dharma-records.buddhasasana.net/texts/arundhati-roys-speech-come-september

Arundhati Roy’s Speech: Come September – Dharma Records

Well, if the last 8 interest rate rises have done basically nothing to address inflation... then I'm sure the next one will totally work! 🙃🙃🙃

#NeoliberalEconomics