Tuesday, September 21, 2021

Is China Facing a Minsky Moment? — Philip Pilkington

If you think this sounds like a shell game, then you have to recognise the reality that fiat-based monetary systems are always a sort of shell game. So long as the banking system is unconstrained in the amount of money it can create, and so long as the banking system (and the central bank) are under control of the government, then bad loans can always be flushed down the proverbial toilet.…
Philip Pilkington gives an MMT-based analysis.

Fixing the Economists
Is China Facing a Minsky Moment?
Philip Pilkington

1 comment:

Matt Franko said...

This Art degree moron is famous for his paradox “stability creates instability!” …

So how is the Fed increasing reserve assets to 4.2T being “stable”?

It’s NOT stable.. it’s the exact opposite of stable…

You guys should all be barred from dealing with any of this stuff…

You’re unqualified untrained improperly educated idiots…