While speaking at the U.K.’s inaugural A.I. Safety Summit last week, serial founder, investor, and CEO Elon Musk predicted that AI would inevitably remove the need for all jobs. “It’s hard to … Continue reading Elon Musk says AI will remove need for jobs and create ‘universal high income.’
What President Biden can learn from Franklin Roosevelt’s “New Deal.” Financial reform, ie: stand up to the private-equity interests that do not serve the interests of the people: Roosevelt also picked supremely competent people — the wily speculator Joseph P. Kennedy, the brainy James Landis, the fiery young William O. Douglas — … Continue reading What Biden Can Learn from Roosevelt’s ‘New Deal’
Long before Covid-19 disrupted everything, a filmmaker named Maren Poitras started following [Stephanie Kelton] around the country. She filmed [her] speaking at conferences, teaching, giving interviews, and going about daily life. She attended the Third International MMT Conference at Stony Brook University in September 2019, where she interviewed many of the world’s … Continue reading MMT the Movie: Coming to a Festival Near You
The US is rapidly hurtling toward a catastrophic debt ceiling default. A trillion-dollar coin the size of a quarter could stop it. Since the “debt ceiling” fiasco that happens every year is just a gimmick to allow one party to hold the country hostage unless they get something they want, then let’s … Continue reading Debt Ceiling Solution: $1 Trillion Platinum Coin Could Stop Crisis
Some of the country’s wealthiest men – furious with President Franklin D. Roosevelt – decided to install a dictator who was more business friendly, according to the congressional testimony of a highly decorated Marine Corps general who was enlisted to participate in the 1933 coup. Amazing what lengths wealthy bankers will go … Continue reading Wealthy bankers and businessmen plotted to overthrow FDR. A retired general foiled it.
The Fed’s interest rate hike cannot possibly do anything but make the current situation worse. We’d all be better off had they done nothing. First do no harm. Just while things are getting more expensive due to a recent pandemic and a war, let’s raise interest rates in the hope that corporations … Continue reading The Fed’s Interest Rate Hike: Salt In The Wound?
Learn all you need to learn about money by watching this John Stewart episode with Stephanie Kelton and Rohan Grey Source: How Do We Fix The Economy? Modern Monetary Theory, Explained | … Continue reading How Do We Fix The Economy? Modern Monetary Theory, Explained | The Problem With Jon Stewart Podcast
The debt ceiling debate is genuinely absurd: Congress authorized the spending of new dollars, so the Treasury has to create them. For Congress to turn around and force the Treasury not to create the dollars it ordered the Treasury to create is an obvious political gimmick. Hence the trillion dollar coin… Now … Continue reading The true, Terry Pratchett-esque origins of the trillion-dollar coin – Cory Doctorow
Instead of issuing new debt and running afoul of the debt ceiling, the Treasury secretary could simply fund the government by minting platinum coins. In 2013, even former US Mint Director Philip … Continue reading The guy behind “Mint the Coin” to end the debt ceiling: The trillion-dollar scheme, explained by its inventor – Vox
Until full employment is reached, governments need not cut back on public spending, says William Mitchell, co-founder of modern monetary theory We’ve just been through the worst pandemic in modern history so there are a few supply issues, but we are not experiencing inflation caused by Biden giving out some stimulus checks. … Continue reading Price rises should be short-lived – so let’s not resurrect inflation as a bogeyman | William Mitchell
The U.S. national debt is now bigger than its economy. That might sound scary, but we’ll explain how the United States can never go broke and can actually pay all of its … Continue reading Why The U.S. Can’t Go Broke – Stephanie Kelton
Re-thinking the conservative approach to government spending. Once conservatives understand how money works they can start to see the benefits of government fiscal spending as well! In fact, one wonders if many conservatives already understand how it all works when they didn’t appear to care about government deficits as of recent. There … Continue reading Modern Monetary Theory for Conservatives | The American Conservative