Monday, 12 October 2020

Interest in Positive Money’s material has fallen dramatically.

I took a sample of 22 PoMo articles from this year and 22 from 2016. I then counted the number of responses to those articles – i.e comments after the articles. Comments in 2020 are running at about a QUARTER the number per article that there were in 2016.

That result does not derive from the fact that a significant number of comments come in six months or a year or two after articles appear: i.e. about 95% of comments come in within a week or so of an article appearing. Thus this would seem to be a genuine loss of interest.

Plus that latter apparent loss of interest does not derive from PoMo now publishing far more articles – which could possibly explain the reduced number of responses per article. Quite the reverse: far as I can see, the number of articles published in the first half of 2016 was 79, while the number published in the first half of 2020 was scarcely half that number, i.e. 44.

I don’t find this surprising since PoMo has rather lost interest in the purpose for which it was originally founded: bank and monetary reform. Although a few token articles on the latter subjects do still appear.

Some of their output now consists of very banal quotes on Instagram (see below), or woke stuff which goes on about the trans-atlantic slave trade that existed around two hundred years ago (a crime that cannot now be rectified) while ignoring the thirty million or so slaves which exist in the world right now (a crime which could potentially be addressed).

But that’s just standard wokeness: criticising crimes committed by whites, while ignoring crimes of the same magnitude committed by people with brown skin. Indeed, unless you’re a fully paid up member of the low IQ woke community, you’ll doubtless have noticed that the latter “discrimination on the basis of colour” is a form of racism, which is exactly what the woke community claim to deplore.

Can’t say I blame those who have lost interest.

Below is a sample of the banale stuff PoMo have put on Instagram recently.

 Well if his "goal" was to DESTROY jobs, I doubt he'd say so....:-)


Microbe???  Virus actually.  There is a difference.  Plus the word "derail" is hopelessly vague. Very roughly 10% of the workforce have been forced to stop working and as a result GDP is roughly 10% below what it would have been without the virus. Call that "derail" if you like. But equally one could say "not too bad in the circumstances". 

Does that actualy mean anything?

I'm puzzled as to how it would be possible, even if one wanted to, to "place the bureden of closing the wealth gap entirely on the black community"? Raise taxes on blacks and dish out the money collected to blacks perhaps?....:-)


Not true. Absent enough money creation by private banks, a central bank can create and feed any amount of money into the economy. Indeed central banks have been doing just that via QE in recent years, not that I'm suggesting QE is a particularly good way of doing it.  BTW: that's not meant as a criticism of Graeber. The point is that the people at PoMo do not seem to be too good at picking out sentences from the work of others which srtand on their own two feet - which if you like constitute decent aphorisms.


Well that's better than nothing, but it will have next to no effect on the funding costs of polluting industries, thus the idea is essentially a waste of time.

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