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.
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Sunday, April 22, 2012
Ramanan — Debt Monetization
Good clear explanation of a complex issue that is widely misunderstood by mainstream economists.
Read it at The Case of Concerted Action Debt Monetization
by Ramanan
"Also, while central bankers simply did not know that a crisis was going to hit but did good work (in my opinion) in preventing an implosion of the financial system, there is simply no need to congratulate them for having purchased government debt such as as done by Paul McCulley here and as done by Adair Turner here at the recent INET conference. Their arguments sound something like: central banks prevented a deflation of prices by purchasing government debt!"
Agree here, McCulley doesn't get it and I do not understand why he is still invited.... just like Soros letting Feldstein (pin-up boy for monetarist neo-liberal chaos) post on the Soros website.
"what communion has light with darkness?" 2 Cor 6:14
"Also, while central bankers simply did not know that a crisis was going to hit but did good work (in my opinion) in preventing an implosion of the financial system, there is simply no need to congratulate them for having purchased government debt such as as done by Paul McCulley here and as done by Adair Turner here at the recent INET conference. Their arguments sound something like: central banks prevented a deflation of prices by purchasing government debt!"
ReplyDeleteAgree here, McCulley doesn't get it and I do not understand why he is still invited.... just like Soros letting Feldstein (pin-up boy for monetarist neo-liberal chaos) post on the Soros website.
"what communion has light with darkness?" 2 Cor 6:14
Resp,