Reconsidering my years as a deficit hawk. Journalist learns what government deficits really are and admits he was wrong in the past. Impressive. Source: Confessions of a Columnist – The New York … Continue reading Confessions of a Columnist – The New York Times
The recently passed federal tax cut seems perilous for the United States government and economy. But even as some financial commentators have for years predicted chaos in the U.S. financial system resulting … Continue reading Is Washington tacitly operating under a new monetary theory?
Neoclassical economics has become an unquestioned belief system and treats those challenging the creed as dangerous So very true. Source: Heretics welcome! Economics needs a new Reformation | Larry Elliott | Business | The Guardian Continue reading Heretics welcome! Economics needs a new Reformation | Larry Elliott | The Guardian
We’ve forgotten that money doesn’t grow on rich people. We make our own money via the institution of government and it’s time we remembered how to use it properly. Great article which … Continue reading Money Doesn’t Grow on Rich People
MMT essentially proposes that money is created ex nihilo or out of nothing. Whether it is private banks, central banks or governments, money is an abstract concept of ones and zeros. Thus, … Continue reading Actually the magic money tree does exist, according to modern monetary theory
Very interesting. Important because this strategy is a ‘plan b” strategy, meaning it will work. Because it will work it can be used as an effective strategy to force the EU to … Continue reading How Could Euro Nations Start A New Currency? – Warren Mosler
The national debt is not what we currently owe but what we currently own Put simply, the commercial bank circuit serves private needs while the government circuit serves collective needs. The bank … Continue reading Is world-leading NHS healthcare an affordable proposition?
Republicans and Democrats should stop obsessing over using the deficit as a guide to public policy. Government deficits equal private sector surpluses. A whole slew of the world’s problems can be solved … Continue reading How We Think About the Deficit Is Mostly Wrong – NYTimes.com
The Democrats claim to be the Party that “really cares” about the deficit. This is not simply dishonest and financially illiterate, it is also a trap. It’s time for our politicians to … Continue reading Jared Bernstein & the cost of not understanding sovereign currencies
It’s a sign of just how extreme US and global wealth inequality has become that even the folks on the winning side of the class war are starting to worry about it. … Continue reading Inequality is getting so bad even Wall Street is starting to pay attention
The solution is simple. It just takes money. Source: How to save Puerto Rico Continue reading How to save Puerto Rico
Not only is this article factually wrong, we don’t own Puerto Rico’s debt, speculators do, it’s also irresponsible when millions are without power and people are dying due to a lack of … Continue reading Who owns Puerto Rico’s mountain of debt? You do
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