Monday, July 23, 2018

Bill Mitchell — The neoliberal ‘progressives’ and their bankster mates are becoming rattled

You know, an Italian won the British Open golf championship yesterday (the first Italian to ever win a golf major) because of the uncertainty surrounding Brexit negotiations. The causality is impeccable. I am sure about that, although it might take me a while to work it out. But if a British golfer cannot win their Open Championship (Rose tied for second, two shots back) then it must be because of Brexit. Everything else that goes wrong is, so why not the golf? It is the same when three former US policy makers, central bankers, Wall Street-types, claim that the US no longer “have to tools to counter the next financial crisis”. They know full well that that statement is a blatant lie. But they say it. To remain relevant as their stars dim? To do service to their conservative mates? All of the above and more. But the media grab the headline and the American public and the public in general is dealt another piece of neoliberal misinformation that helps entrench the hold on power by the elites. But things are changing, and these entrenched elites and the vested interests they serve don’t like it a bit....
Fabricated causes and scapegoating.

Bill Mitchell – billy blog
The neoliberal ‘progressives’ and their bankster mates are becoming rattled
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

1 comment:

Matt Franko said...

“Monetary policy (interest rate changes) is relatively ineffective as a counter-stabilisation tool. That was demonstrated very clearly during the GFC as central banks claimed they were trying to elevate inflation rates and haven’t succeeded despite massive asset increases on their balance sheets arising from QE.“

Yeah but what was the effect of that CB policy on the Depository’s parameters which are used to compute regulatory ratios?