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.
If people believed, even rationally expected, greater prosperity, then they would allow the government to spend more. Corporations could hire more and give wage rises, without fearing shareholder anger. The poverty mentality really does cause poverty and everyone becomes paranoid that they are going to be the chump that spends their last cent before the next crisis or their job is on the chopping block. As recently as the 1950 & 60s the trajectory was rising instead of falling and government did really audacious things like build golf courses, parks, swimming pools not because they were needed but because they increased the quality of life and offered opportunity for recreation. In today's political climate, those sort of investments would be considered wasteful and frivolous for a government project, they would be called pork barrell spending. We can't even spend on health care without people getting upset much less some small luxury. How did we get to the point that we aren't willing to spend on ourselves?
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If people believed, even rationally expected, greater prosperity, then they would allow the government to spend more. Corporations could hire more and give wage rises, without fearing shareholder anger. The poverty mentality really does cause poverty and everyone becomes paranoid that they are going to be the chump that spends their last cent before the next crisis or their job is on the chopping block.
As recently as the 1950 & 60s the trajectory was rising instead of falling and government did really audacious things like build golf courses, parks, swimming pools not because they were needed but because they increased the quality of life and offered opportunity for recreation. In today's political climate, those sort of investments would be considered wasteful and frivolous for a government project, they would be called pork barrell spending. We can't even spend on health care without people getting upset much less some small luxury. How did we get to the point that we aren't willing to spend on ourselves?
Interesting:
Feb 15 : news says the Banks took the 0% Fed money and carry traded it to Turkey S. Africa and Argentina.
Feb 27 news says Turkish people over leveraged with personal debt from credit cards.
Is there a connect??
Gee ..... no G.E.
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