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.
Not only did he not know the blance at the central bank stayed the same he actually thought more Euro's were created in that process and not cancelled out.
10 comments:
I see Simon has went on the attack again against Bill and Thomas Fazi
The blog war
https://mainlymacro.blogspot.co.uk/
Put them in a room pair of boxing gloves each for 5 mins.
I'd pay to see that.
Tom,
I don't use facebook can you put up a live stream for the Mosler v Keen debate
tonight ?
If there is one - Thanks in advance.
I purposely minimize my use of FB and Twitter.
No live stream apart from them then ?
I can't believe Steve Keen did not know that in a flexible exchange rate for a transaction to complete you need a buyer and a seller
£--------------> Euro
£<-------------- Euro
So the amount at the central bank does not change just the name on the account.
Not only did he not know the blance at the central bank stayed the same he actually thought more Euro's were created in that process and not cancelled out.
Mind boggling stuff.
And his grasp on trade defcits and trade surpluses
Mind Blowing
I'd hate to see what his models turn out like. Not the real world that's for sure.
Ouch!!!!
Foot,
Never trained in Accounting...
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