MMT is less prescriptive: It describes the way that money works in a way that an 8-year-old can grasp more readily than a PhD, which in itself is unnerving. “The contribution of … Continue reading The Rock-Star Appeal of Modern Monetary Theory | The Nation
The minimum wage grew with productivity for 20 year until the mid 70s. Had it kept up, it would be at $21.36 today, so a $15 target by 2024 is still rather … Continue reading Minimum wage would be at $21.36 had it kept up with productivity
The Two Most Misunderstood and Misused Economic Terms? In my opinion, it has to be the terms: a) “trade deficit” and b) “trade imbalance,” because those two terms are almost always … Continue reading The Two Most Misunderstood and Misused Economic Terms?
There are so many things to bash his tax plan for — and you choose the national debt? The Democrats play right into the hands of the Republicans by worrying about the … Continue reading Why Democrats need to stop concern-trolling Trump about the deficit
“Household income of high school educated 25-32 year olds 1979 50k 1986 48k 1995 45k 2013 40k (median adjusted household income, 2012 $)” The numbers just keep going in the wrong direction for the majority of the population. Household income of high school educated 25-32 year olds1979 50k1986 48k1995 45k2013 40k(median adjusted … Continue reading Household incomes down over the decades
America’s chief banking regulator admits it failed to act on numerous “red flags” at Wells Fargo that could have stopped the fake account scandal years earlier. They failed to act on 700, … Continue reading Feds knew of 700 Wells Fargo whistleblower cases in 2010
Where the real problem arises is when the Fed starts raising interest rates in order to try to slow the economy’s growth. This is nonsense and based on bad theory. Great article … Continue reading Why U.S. Monetary Policy Makes No Sense – Forbes
What happens when Trump drops the mother of all policy bombs on the Fed? Who’s going to win this war, what will the US economy look like in it’s aftermath & what … Continue reading McSquared – The Coming War between Trump & The Fed
Economics isn’t always the best starting point in understanding our world. Sometimes a philosopher, sociologist, or historian might be better for analysis Or, rather, they need to stop sticking to ideas that have been proven time and time again to be false, such as the idea that austerity is needed when the … Continue reading Economists have to let go of the delusion that they have all the answers
IN 1925, Russia had been through a devastating war and a violent internal revolution. Her currency had been destroyed in a runaway price inflation, she was the world’s worst financial risk abroad … Continue reading “Where’s the Money Coming From?” by Stuart Chase, 1943
Great snippet on how the nations debt never needs to be paid off and never will be actually. Source: Former Treasury Staffer: US National Debt Never Needs To Be Paid Down Continue reading Former Treasury Staffer: US National Debt Never Needs To Be Paid Down
When applying the MMT framework to a nation such as Sri Lanka with the power to spend its own currency the budget of the nation should not be considered the same as … Continue reading Sri Lanka can become a 1st World Nation
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