An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
I enjoyed watching the local CSPAN show broadcast this past Sunday evening where Stephanie Kelton presented the information in these slides. Thanks for this link as it confirms the source of my confusion when, at 11:00 to 11:10 min., Stephanie mis-stated the color-coding conventions used in the mirror-image slide when, to paraphrase, she says-
'the only way you keep the private sector (in red) above zero ....'
when she meant to say -
'the only way you keep the private sector (in blue) above zero ...'
It also seemed that the deficit projection discussion could have been a bit smoother. All in all, it was another excellent presentation and was complementary to James Galbraith's contributions.
In any event, her arguments were much more rational than those given by B Bernake in his CSPAN presentation this evening to the Economic Club of New York. (He attempted to defend his policies of the past few years as he claimed that the lenders would not lend to allow the government to function if govt doesn't face up to its responsibility to reduce the govt's deficit.)
"He (B Bernake) attempted to defend his policies of the past few years as he claimed that the lenders would not lend to allow the government to function if govt doesn't face up to its responsibility to reduce the govt's deficit."
Good god, MMT stands absolutely no chance of gaining traction if the head of the Fed himself denies MMT's operational realities.
"He attempted to defend his policies of the past few years as he claimed that the lenders would not lend to allow the government to function if govt doesn't face up to its responsibility to reduce the govt's deficit.)"
right he often tries to deflect the failure of his monetary policy by scolding congress for not "addressing the long term fiscal issues"...
3 comments:
I enjoyed watching the local CSPAN show broadcast this past Sunday evening where Stephanie Kelton presented the information in these slides. Thanks for this link as it confirms the source of my confusion when, at 11:00 to 11:10 min., Stephanie mis-stated the color-coding conventions used in the mirror-image slide when, to paraphrase, she says-
'the only way you keep the private sector (in red) above zero ....'
when she meant to say -
'the only way you keep the private sector (in blue) above zero ...'
It also seemed that the deficit projection discussion could have been a bit smoother. All in all, it was another excellent presentation and was complementary to James Galbraith's contributions.
In any event, her arguments were much more rational than those given by B Bernake in his CSPAN presentation this evening to the Economic Club of New York. (He attempted to defend his policies of the past few years as he claimed that the lenders would not lend to allow the government to function if govt doesn't face up to its responsibility to reduce the govt's deficit.)
"He (B Bernake) attempted to defend his policies of the past few years as he claimed that the lenders would not lend to allow the government to function if govt doesn't face up to its responsibility to reduce the govt's deficit."
Good god, MMT stands absolutely no chance of gaining traction if the head of the Fed himself denies MMT's operational realities.
"He attempted to defend his policies of the past few years as he claimed that the lenders would not lend to allow the government to function if govt doesn't face up to its responsibility to reduce the govt's deficit.)"
right he often tries to deflect the failure of his monetary policy by scolding congress for not "addressing the long term fiscal issues"...
rsp
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