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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Friday, December 13, 2013
Warren Mosler fisks Alan Blinders WSJ op ed
Warren fisks Alan Blinders WSJ op ed. Blinder, a former Fed vice chair, really is clueless about monetary operations. It's astounding.
The Greek banks have been bailed out with billions exceeding 90% of country's GDP since 2008. When citizens suffer from heavy taxes, unemployment strikes the Greek society, Greek economy faces deep recession and Greeks sink in poverty, it appears that Greek governments do have money, but only for the banks. Billions were given in bailouts, but no one knows where the money went and how they were exploited. The only thing that is certain is that they didn't go where they should go: to the real economy.
Greece: money and support only for the banks
ReplyDeleteThe Greek banks have been bailed out with billions exceeding 90% of country's GDP since 2008. When citizens suffer from heavy taxes, unemployment strikes the Greek society, Greek economy faces deep recession and Greeks sink in poverty, it appears that Greek governments do have money, but only for the banks. Billions were given in bailouts, but no one knows where the money went and how they were exploited. The only thing that is certain is that they didn't go where they should go: to the real economy.
http://failedevolution.blogspot.gr/2013/12/greece-money-and-support-only-for-banks.html
And Dan has a good one too coming at it from the 'closed system' type of analysis here:
ReplyDeletehttp://ruggedegalitarianism.wordpress.com/2013/12/11/blinder-and-the-banks/
rsp,