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.
Yawn. The people who will be punished are those who took risks by funding businesses via debt rather than equity. If they fail, then serve them right. They shouldn't have taken that risk.
When I hear the name Del Vecchio (the CEO of Brooks Bros.) I am reminded of that great hockey player Alex Delvecchio who played for over 20 years (1950-1974) with the same team the Detroit Red Wings.
https://en.wikipedia.org/wiki/Alex_Delvecchio
PS: Name suggestion for the Washington Redskins: Washington Red Wings. This way they get to keep the R. Probably will upset the Detroit :(
I'm on the justice side of the fence and that means ALL fiat creation should be for the general welfare and that EXCLUDES fiat creation for the banks and asset owners.
Justice also excludes government guarantees of private liabilities, including privately created liabilities.
Or have you never heard of equal protection under the law?
8 comments:
Banks report tomorrow....
Yawn. The people who will be punished are those who took risks by funding businesses via debt rather than equity. If they fail, then serve them right. They shouldn't have taken that risk.
When I hear the name Del Vecchio (the CEO of Brooks Bros.) I am reminded of that great hockey player Alex Delvecchio who played for over 20 years (1950-1974) with the same team the Detroit Red Wings.
https://en.wikipedia.org/wiki/Alex_Delvecchio
PS: Name suggestion for the Washington Redskins: Washington Red Wings. This way they get to keep the R. Probably will upset the Detroit :(
Washington Cherry Blossoms
Toronto Make Beliefs
Salt Lake City Slickers
May the hockey season begin...
Don't be too hard on the "borrowers", Ralph, since government privileges for private credit creation drive people and businesses into debt.
And the MMT folks are fine with government privileges for private credit creation and would INCREASE(!) those privileges.
And Neil, that's why your moralizing about free loaders is pious hypocrisy coming from an MMT proponent.
Presumably you're on the "shirker" side of the fence. Better start that charity and get the metro-liberals to fund it.
I'm on the justice side of the fence and that means ALL fiat creation should be for the general welfare and that EXCLUDES fiat creation for the banks and asset owners.
Justice also excludes government guarantees of private liabilities, including privately created liabilities.
Or have you never heard of equal protection under the law?
Andrew, you will have to build a movement for people who share your values, or can be persuaded to adopt similar values. Sign me up.
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