The UK has become the first country to embrace the monetary financing of government to fund the immediate cost of fighting coronavirus, with the Bank of England to directly finance the state’s spending needs on a temporary basis. The move would allow the government to bypass the bond market until the Covid-19 pandemic … Continue reading Bank of England to directly finance extra government spending
Source: [LIVE] Coronavirus Pandemic: Real Time Counter, World Map, News – YouTube Continue reading [LIVE] Coronavirus Pandemic: Real Time Counter, World Map, News
In the face of the pandemic, Denmark is effectively nationalizing private payrolls, in contrast to the patchwork American system. The US has the capability to bring the economy roaring back but only if we make sure that small businesses and the workforce are made As whole as possible. And this article points … Continue reading The Nordic Way to Economic Rescue – The New York Times
Critics worry a new Environmental Protection Agency (EPA) policy will leave the agency unaware of how much pollution is leaking into air, water and soil as companies are given the green light to There is a saying in politics: “Never let a good crisis go to waste.” Source: Critics blast EPA move … Continue reading Critics blast EPA move as license to pollute during pandemic
When all of this is behind us, to the extent that it ever can be, let’s not forget what we’ve learned: Congress knows how to spend money when it wants to. Will be helpful when it comes time to address climate change. Source: $2 Trillion Coronavirus Stimulus Nullifies “How Will You Pay … Continue reading $2 Trillion Coronavirus Stimulus Nullifies “How Will You Pay for It?” Question
People will act on an emergency — when they understand that it threatens them. And money is no object. Source: Politicians blew off Gen Z’s climate goals. The coronavirus shows we can act fast. – The Washington Post Continue reading Politicians blew off Gen Z’s climate goals. The coronavirus shows we can act fast. – The Washington Post
The issue of “balancing the books” with taxes or via the issuance of debt is not only an afterthought — it is not even necessary. Our government holds a monopoly to “issue” the currency, it does not merely “use” it like the rest of us. An epochal shift in economic thinking that … Continue reading Coronavirus pandemic: politicians, CEOs believe in MMT, Modern Monetary Theory
Congress has all the firepower it needs. It just needs to send spending instructions to the Federal Reserve, as it always does. We can afford to keep the country whole, this article explains why. Source: Opinion | Stephanie Kelton: Just Use ‘the Computer’ to Give People More Money – The New York … Continue reading Stephanie Kelton: Just Use ‘the Computer’ to Give People More Money
Even deficit hawks like Joe Biden know that when faced with the genuine prospect of annihilation, the only adequate response is to do whatever it takes to prevent it. We’ve done it before, we can do it again. And money is no object at this point. Source: We Can Afford to Beat … Continue reading We Can Afford to Beat This Crisis | The Nation
The US government should pull out all the stops in mitigating the economic fallout from COVID-19, not just by disbursing cash to all households, but also by implementing a federal job guarantee and many other long-overdue policies. After all, for a self-financing government, money is no object. These are all things that … Continue reading What Would Roosevelt Do? by Pavlina R. Tcherneva
A region of Italy that took earlier and more aggressive measures to fight the coronavirus is now seeing fewer cases. One region, Veneto, tested everybody, even those with no symptoms, and the other region, Lombardy, only tested those with symptoms. The result is that Veneto is seeing a decrease in the spread … Continue reading Italian regions’ responses to coronavirus show testing, distancing work – Business Insider
The Trump administration has proposed $50 billion of emergency aid for airlines ravaged by widespread cancellations amid the coronavirus pandemic. But critics are deriding it as a bailout to an industry that made bad financial decisions. Resistance to the plan emerged among Democrats and even some Republicans. They’re concerned that extra money … Continue reading Airlines are begging for a bailout, but they’ve used 96% of their cash on stock buybacks over the past 10 years.
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