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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Monday, August 21, 2017
Nafeez Ahmed — Inside the new economic science of capitalism’s slow-burn energy collapse
"financialization of GDP, such as through increasing “monetary flows” through creation of new debt, without however increasing material or energy throughput (think quantitative easing);"
Tom economists use 'real' and 'nominal' to (to them) adjust for that already... QE does not effect their GDP... so I don't know what this guy is talking about here...
Matt, he is saying that the finance is growing and not finance (production/productivity) is not growing. The increasing numbers are the illusion of actual growth. The growth is in paper shuffling involving rent-extraction and portfolio adjustments. Michael Hudson has explained this in detail.
Well a lot of rent ($75/bbl) has just been removed over the last couple years after being there for 10 years.... this guy should re run his numbers using only the last 18 months...
"financialization of GDP, such as through increasing “monetary flows” through creation of new debt, without however increasing material or energy throughput (think quantitative easing);"
ReplyDeleteWhat does this have to do with anything?
What does this have to do with anything?
ReplyDeleteIllusion of growth. The only thing that has grown is the numbers. The real economy is in the doldrums since the crisis.
Tom economists use 'real' and 'nominal' to (to them) adjust for that already... QE does not effect their GDP... so I don't know what this guy is talking about here...
ReplyDeleteMatt, he is saying that the finance is growing and not finance (production/productivity) is not growing. The increasing numbers are the illusion of actual growth. The growth is in paper shuffling involving rent-extraction and portfolio adjustments. Michael Hudson has explained this in detail.
ReplyDeleteWell a lot of rent ($75/bbl) has just been removed over the last couple years after being there for 10 years.... this guy should re run his numbers using only the last 18 months...
ReplyDelete