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
Don’t panic over milk prices. Inflation is bad for the 1 percent but helps out almost everyone else. It’s true, we’re talking about the cost of milk having gone up from say $10.00 last year to $10.62 this year, due mostly to supply constraints from the pandemic last year. But wages went … Continue reading Inflation Is Good for You
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
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
The IMF recently updated their – World Economic Outlook database – April 2021 – which allows for quick cross country comparisons. It shows that the: Eurozone has categorically failed & Austerity is a political choice and it doesn’t work. Meanwhile, China’s GDP growth per capita over the same period is over 100%, … Continue reading Latest IMF data helps us see how political choices impact on health and economic outcomes
John Oliver finally does MMT! Source: The National Debt: Last Week Tonight with John Oliver (HBO) – YouTube Continue reading The National Debt: Last Week Tonight with John Oliver (HBO)
“We are never so certain of our knowledge as when we’re dead wrong.” —Guy Davenport in the essay “Pergolesi’s Dog from Every Force Evolves a Form” Well written article about money. Source: Politicians are never so sure as when they’re wrong | Lexington Herald Leader Continue reading Politicians are never so sure as when they’re wrong | Lexington Herald Leader
The pandemic has shown the limits of the market … a book that takes its cue from the Apollo 11 mission is full of vital ideas for progressives who want to change … Continue reading Mission Economy by Mariana Mazzucato review – the return of the state | The Guardian