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.
Warren says something to the effect that "deficits have nothing to do with morality" but he's wrong. So long as we have a government-backed credit cartel then deficits by the monetary sovereign are a moral imperative so the aggregate interest to that cartel can be paid. And no, using exports to generate the interest is not a moral solution since the central bank dilutes domestic purchasing power for the sake of foreigners which on the face of it IS TREASON.
Really nice. Sharp, crisp image.
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ReplyDeleteWarren says something to the effect that "deficits have nothing to do with morality" but he's wrong. So long as we have a government-backed credit cartel then deficits by the monetary sovereign are a moral imperative so the aggregate interest to that cartel can be paid. And no, using exports to generate the interest is not a moral solution since the central bank dilutes domestic purchasing power for the sake of foreigners which on the face of it IS TREASON.
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