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I read an article on MSN yesterday from February 3rd about how we’re at the “inflection point” where all that “quantitative easing” the Fed has been doing is going to start causing inflation. And, if we are finally at that inflection point, the world will then slowly begin to concern itself with stagflation and inflation, . . . → Read More: Inflation Chicken Little Bill Fleckenstein I don’t like to do Meta posts, but there’s a debate raging in the MMT world that offers some insight into MMT and it’s Job Guarantee(JG) policy proposal. Modern Monetary Theory is a relatively new school of economic thought and I think it is experiencing it’s first growing pains as more and more people accept . . . → Read More: MMT and the Job Guarentee Conservative politicians and commentators repeatedly assert that employers need to reduce “labor costs” to stay competitive(Examples here and here). They assert that lower wages will be better for the country by creating more jobs and cheaper products. These assertions do not standup well against 30 seconds of critical thinking. Putting aside the morality of lowering . . . → Read More: The Cost of Labor SHOULD be High You probably all know about the story of Copernicus. In the 1500s he spread the idea that the Sun – and not the Earth – was at the center of our solar system. Despite fierce resistance from the Church, the idea caught on and changed the way scientists think about our place in the Universe. . . . → Read More: Reframing Money Back in October, Senator Bernie Sanders put together a panel of economists and other public policy experts to come up with a plan to “reform” the Federal Reserve structure. As his news release makes clear, there is a lot of room for improvement. Sanders announced formation of his expert advisory panel in the wake of . . . → Read More: Sen. Sanders showing MMT some love while reforming Fed In 2009, there was a crazy, wild-eyed passion spreading among conservatives and the Teabagger. Here are some choice quotes from prominent conservatives and teabagger favorites. Glenn Beck and Ron Paul Ron Paul: [snip] So the bailout is a disease, it’s contagious, it’s ongoing, and the result of this will be the destruction of the dollar, . . . → Read More: Still waiting on that hyperinflation. No two countries are exactly the same. One would think this would be obvious, but to many politicians and economists it is not. Economists “assume” that they are to simplify certain models where the differences are irrelevant to what they are studying, but then forget to “unassume” for others. No where was this more obvious . . . → Read More: Euro and Free Trade I ran across this “old” testimony from a spokesperson for the “American Securitization Forum”(ASF) to congress in 2003(pdf). The ASF is made up of mostly large financial firms involved in the securities market including the now infamous mortgage backed securities(MBS). Much of the testimony included is a matter-of-fact history of the development of the secondary . . . → Read More: Revisiting the Confidence of our Sophisticated Financial Wizards The European Union was set up in a manner that guaranteed that eventually, one of its members was going to have a debt crisis. What makes the Euro so unique is that it was setup almost like a gold standard. Each nation does in the Eurozone does not issue it’s own money. It must be . . . → Read More: Euro Zone Debt Crisis Was Going to Happen Eventually A lot of news over the weekend on the Euro ‘crisis’. As I write this, but before I publish it – Greece may even have a new government. That’s how quickly things are changing. Because of all the news, I’m pretty sure all my posts this week are going to concentrate on Greece, the Euro, . . . → Read More: Greek Week Rush – Analyzing the Euro Crisis |
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