Meet the mayors pushing for guaranteed income in 30 cities across the country One-off stimulus checks don’t cut it while forcing the population to lock themselves indoors. The United States can afford to do so much more, and EVERYONE, including the rich, benefit as a result. Source: The mayors piloting guaranteed income … Continue reading The mayors piloting guaranteed income programs across the U.S.
The economic ideas that once fueled deficit mythbusters and provided hope for a pandemic recovery have spawned a vibrant political subculture. Once people understand where money comes from then they’ll realize that we can start addressing things like climate change and student loans without causing any further hardship. Source: This Year’s Underground … Continue reading This Year’s Underground Sensation: Modern Monetary Theory | The New Republic
Budget shortfalls threaten additional job cuts, gutted social programs, and can cripple states’ abilities to conduct coronavirus vaccination programs. The time for government to do something is now. Check out how other countries are handling the pandemic: Wages subsidized by the government during pandemic: 🇨🇦 – $2,000 a month 🇯🇵 – Up … Continue reading State and local government stimulus needed to avoid long-term drag
By all means step in to feed children or raise money for the NHS, but never forget that the Tories’ aim is to shrink the state, says the Guardian columnist Nesrine Malik Becoming like the United States, in other words. Source: Britain is becoming a GoFundMe nation, with the public doing the … Continue reading Britain is becoming a GoFundMe nation, with the public doing the government’s job
The one taboo of economics that the government is hiding from the public is the fact that if the government balances its books, it becomes impossible for the private sector to do … Continue reading David Graeber: what the government doesn’t want you to know about debt – video | Opinion | The Guardian
The CBO projected that the deficit will be the biggest this year as a share of the economy since 1945. And it means absolutely nothing. In fact the government needs to increase the deficit even more if it wants to avoid a massive, potentially decade long, recession. Source: U.S. government debt will … Continue reading U.S. government debt will nearly equal the size of the entire economy for first time since World War II, CBO finds – The Washington Post
Our country’s myth about federal debt, explained. The idea that our country’s national debt creates a burden on future generations is a complete fabrication. Source: Opinion | M.M.T. Shows the Trillion-Dollar U.S. Deficits Are OK – The New York Times Continue reading Opinion | M.M.T. Shows the Trillion-Dollar U.S. Deficits Are OK – The New York Times
Don’t think of that number as “big” or “bold.” Just think of it as the appropriate dosage for a once-in-a-century economic affliction. We’ve done it before, we can do it again. Source: … Continue reading Preventing a Great Depression Will Cost $10 Trillion – The Atlantic
We’re finally, finally, doing an episode on MMT. Just in time for the deficit to triple. Source: Maybe Modern Monetary Theory is an answer to the COVID-19 economic crisis – Marketplace Continue reading Maybe Modern Monetary Theory is an answer to the COVID-19 economic crisis – Marketplace
Yes — It poses no inherent danger to states that issue their own currency There are three real reasons. First, a currency-issuing government never needs to borrow its own currency. Second, it can always determine the interest rate on bonds it chooses to sell. Third, government bonds help to shore up the … Continue reading Can governments afford the debts they are piling up to stabilise economies?
No, federal government spending doesn’t have to be ‘paid for’. The crisis shows providing for our society is not a financial issue This could be a blessing in disguise as the people … Continue reading Coronavirus has destroyed the myth of the deficit | Yeva Nersisyan and L Randall Wray | Opinion | The Guardian
Once-fringe ideas in economic theory are now nearly official policy as government borrowing surges and the Federal Reserve signals it could buy unlimited debt. “Once the central bank buys them (the bonds), it’s as if the Treasury never issued them in the first place,” said Dr. Kelton, “For all intents and purposes, … Continue reading How the Government Pulls Coronavirus Relief Money Out of Thin Air – The New York Times