The FED has no way of re-balancing or raising rates without crashing the markets. The FED doesn't want to take the blame. Not again. Even though the markets are crying out for a correction. There is no discipline. The level of incontinence is unprecedented. QE has got to stop. But how? One would like new … Continue reading “Digital Corrections – will crypto save capitalism, and the FED ?”
This crisp little pick 'n' mix history of money by Jacob Goldstein makes for an easy, entertaining read. As gripping as a money book can be it has the light touch of journalistic storytelling, veined by vivid vignettes and sorted around some refreshingly newish themes. Like China's paper money phase or a chapter on John … Continue reading MONEY – the true story of a made up thing – by JACOB GOLDSTEIN
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 ?
update (25/1/2021) - sroll down for original post - Peter Bofinger "Corona - Krise : Stunde der MMT?" Plurale Ökonomik : "Wie funktioniert unser Geldsystem, was macht eine Zentralbank und welche Ursachen haben Finanzkrisen? Diesen und weiteren Fragen wird in der Ringvorlesung Finanzkrisen und Geldsysteme“ nachgegangen...." more on youtube or watch below: Vortrag … Continue reading German Economist sees MMT across the sea
In a pre-summit article, German finance and foreign ministers Olaf Scholz and Heiko Maas suggest flexible ESM adjustments to provide "quick and targeted relief... (and) ... a pan-European guarantee fund to secure loans ... (so) the European Investment Bank (EIB) would ensure liquidity for small and medium-sized enterprises in the EU countries." read the whole … Continue reading Creditors Kill Europe
Is the coronavirus an act of green terrorism? Allegedly the currently globalising coronavirus did not just accidentally escape from the Wuhan virology lab but was deliberately smuggled out by a 21 year old researcher and self declared Greta Thunberg fan. "I wanted to disrupt the earth-killing global economy" declared the biochemistry student who sneaked out … Continue reading Crisis!
There has been an explosion of attention for MMT this year. Most coverage is rather superficial, either bagging manna from heaven or burning a straw man. Having initially dismissed MMT as "socialist quackery" The Economist eventually produced a perhaps surprisingly cautious article (read GayaMoney copy here). But for more serious engagement it is best to consult primary sources, … Continue reading Apropos of MMT…