Michael McAteer Profile picture
May 6 8 tweets 2 min read Read on X
Some charts are very expressive of phenomena that occur over very long spans of time, making them more apparent to people whose horizon of expectation hardly extends past a year. It's a forest and trees problem.
The concentration of wealth in capitalist societies reoccurs with the Kondratiev wave until it is relieved by a more equitable distribution of wealth that comes with a resurgent economy based on new forms of production that technology makes possible.
In summary, Kondratiev observed in 1927 that capitalist societies have a uniform sine wave pattern of economic activity lasting between 45 and 60 years. There is a crisis peak of hyper inflation at its middle.
It was all downhill for us after 1980 as we headed into the inevitable global deflationary depression that announced itself with the financial crisis of 2008 and lasted well over a decade.
Economists don't pronounce it, but social indicators like food bank use, suicide rates and a fall off in longevity confirm it. The same experience occurred with what the public came to call The Long Depression that started with a financial crisis in 1873.
Economists denied it based on nominal economic performance numbers, but the name stuck in the consciousness of the people. en.wikipedia.org/wiki/Long_Depr…
We are currently transitioning to a new long wave of economic activity. Wages have been rising in Canada, breaking trend in 2018, but the residue of depression still weighs on large portions of the population who are fearful of ever gainfully participating in the economy.
The "Canada is broken" theme is an old story that is receding with the release of each new report of Canada's economic performance. Image

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More from @Monetarius

May 6
Some charts are very expressive of phenomenon that occur over very long spans of time, making them less apparent to people whose horizon of expectation hardly extends past a month. It's a forest and trees problem.
The concentration of wealth in capitalist societies reoccurs with the Kondratiev wave until it is relieved by a more equitable distribution of wealth that comes with a resurgent economy based on new forms of production that technology makes possible.
In summary, Kondratiev observed in 1927 that capitalist societies have a uniform sine wave pattern of economic activity lasting between 45 and 60 years. There is a crisis peak of hyper inflation at its middle.
Read 8 tweets
Apr 16
That central banks underestimated the rebound of inflation commensurate with the start of a new long wave of economic activity is not surprising in light of Nicolai Kondratiev's observation that capitalist economies exhibit a wave phenomenon of between 45 and 60 years.
The last wave announced itself around 1950 (if you look at GDP data). There was a significant period of "super inflation" before the economy settled into a long term period of equilibrium of gradually uptrendng inflation that peaked in the hyper inflation crisis of 1980.
The inevitable global deflationary depression announced itself with the financial crisis of 2008 and lasted well over a decade, a phenomenon substantiated by social indicators like food bank use, the drop off in longevity, suicide and drug overdoses.
Read 4 tweets
Mar 2
Poilievre's sloganeering of "Bring It Home" and "Common Sense" is nothing more than a regurgitation of the reactionary sentiments of the global rise of populist conservatism that are based on old forms of racism that see philosophical viewpoints as arising out of "soil and blood"
"These historical narratives using the nineteenth-century concept of degeneration to argue that simple, original, pure forms of philosophy gradually changed into more complex, degenerate forms, identifying complexity with decadence.
Such a priori interpretative schemes are no longer acceptable in the contemporary academy."
This quote comes from the Wikipedia entry on an Austrian scholar of Buddhism and indology who benefitted from his membership in the Nazi party.en.m.wikipedia.org/wiki/Erich_Fra…
Read 4 tweets
Feb 22
"Anti-Globalism" is a handy leitmotif in the the song and dance of the populist right-wing. says that in simple words, globalism is: "The attitude or policy of placing the interests of the entire world above those of individual nations."Dr.Google
This would seem consistent with the claims of rightists that climate change is a hoax, or at least the concerns founding the call to radically reduce CO2 emissions are overly alarmist, and that the Paris Accords and "Zero 2050" objectives should be abandoned.
That these politics are in the interest of owners of the oil and gas industry is conveniently overlooked.
Read 4 tweets
Feb 16
Totalitarian regimes cannot countenance dissent. It is an ontological impossibility, so even "thought crimes" are prosecuted with extreme prejudice.
Nicolai Kondratiev, to whom I often refer, was a Russian economist who observed long waves of economic activity in capitalist economies that last 45 to 60 years and then repeat.
This contradicted Marx's assertion of an eschatological condition that would necessarily see the end of capitalism. For this and other criticisms, the Bolsheviks sentenced him to eight years in prison in 1932.
Read 4 tweets
Jan 24
Judge Morley's decision condemning the federal government’s use of the Emergencies Act reflects the biases of one man. The next step is the Federal Court of Appeal where no less than three judges will review the case.
If it elects to hear a further appeal, nine judges of the Supreme Court of Canada will render a judgment.
Morely based his decision on legal precedent, particularly the "Oakes Test" which demands the government show a "preponderance of probability" of a threat to national security to justify its use of the Emergencies Act...
Read 6 tweets

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