Red Pingu

@invariantpingu.bsky.social

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Marxism and political economy from the east coast of Australia 🚩

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"Gaza’s remaining hospitals, health centers and oxygen stations will stop working within 48 hours...Israel’s closure of the vital Rafah border crossing last month severed key supply lines, limiting access to food, fuel and medical supplies, aid groups say." www.washingtonpost.com/world/2024/0...

Gaza’s remaining hospitals will stop working in two days, health officials warnwww.washingtonpost.com Israel’s closure of the vital Rafah border crossing last month severed key supply lines, aid groups warned. Fighting goes in Shejaiya, Gaza City, the IDF said.

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The urban wage fund per person in China is still only one tenth that of the US wage fund per person when measured in USD, but it's growing rapidly, even in real terms recently during the popping of the real estate bubble, whereas the US real wage fund has only just returned to 2021 levels📈📉

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Investment leads changes in the capital stock and depreciation, which helps explain why profit rates continued to slide after this, however I'd expect them to have recovered somewhat in the past few years. 📈📉https://dbasu.shinyapps.io/World-Profitability/

beginning to understand that 2016 may have been a profitability crisis for China on par with 1980 for the US and an economic problem for the capitalist class on par with the great leap forward.📈📉

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More idpol bullshit from the other pole of the intersectionality debate. A general strike of teachers wouldn’t cause an acute social crisis? Are these people joking?

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Just when you think the NYT's coverage of Gaza (for which they have won a Pulitzer, absolutely destroying any last shred of respect I have for this industry), they print this, the morning we've all woken up to beheaded children and refugees burned alive.

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Commercial real estate is so bad that even owners of AAA notes are losing 25%

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Argentina’s peso plunges in warning light for Milei https://www.ft.com/content/401a85e5-e144-496d-b329-ab9d2eabaecd

Argentina’s peso plunges in warning light for Mileiwww.ft.com Widening gap between official and unofficial rates makes it trickier to remove currency controls

Increasingly convinced that philosophy undergraduate courses are a fatally flawed

Every democratising military innovation is terrorism, from crossbows to gunpowder to guerrilla warfare. Anything that alters the scales of military status quo is repugnant in the hands of the plebeians.

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Here's why Americans aren't a fan of the Biden economy, if we look at the wage fund (real wages per capita), workers are pretty much not better off from when he took office, and effectively experienced a recession in late 2022-2023 📉📈

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