"The only way to call time on QE, if that is what we truly want, is to deconstruct and then reconstruct, regulate and stabilise the whole financial system, so that the extraordinary privilege of credit creation is always balanced by a responsibility not to take undue risks." Ann Pettifor
f featured/intro updates below see also >Ann Pettifor >Michael Hudson >David Graeber twitter.com 2022 "A theory of debt is basically a theory of everything" - Andrew J. Douglas debt updates 9-2022 theguardian.com 9-2022 Now Britain is in the 100% debt-to-GDP club, what’s the spending plan? Covid has pushed many states’ debts above annual income, but … Continue reading DEBT past present future public private crisis
Turns out Peter Bofinger is not the only German economist who can see MMT across the sea. There is at least one other. Maybe more to follow? "Say it quietly, but Germany has learnt the lessons of Keynes," argues Thorvaldur Gylfason. Mind you, he is talking fiscal largesse, not ECB money. In the "we are … Continue reading De facto MMT disequilibrating DSGE ?