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.
China will be poster child for developing countries MMT — Richard Mills
Well, not exactly MMT-compliant, but close enough to be interesting. The basic idea, currency sovereignty, is OK. This means that a country that is sovereign in its currency doesn't need to obtain it because it issues it.
When are economics types quoting MMT going to realise that MMT is about spending (deploying physical resources), not lending.
The obsession with loans and interest rates is just unbreachable. They can't get their head around the idea that the government sector has no need to pay anybody any interest *and shouldn't*. It's just welfare payments for the rich.
Interest should be a private sector matter for the actors within the horizontal circuit to decide amongst themselves. Just like how much bread to produce today.
The obsession with loans and interest rates is just unbreachable
This assumption (belief) is foundation to their worldview as the way people structure their perception in terms of cognition into their "reality." Without this assumption, their "reality" falls apart. A world view is dependent not only on perception (data) but organizing that data into information. In that process a lot of noise can be introduced, e.g., by cognitive-affective bias, motivation, erroneous education, cultural bias, etc.
Friedman (monetarism) replaced Keynes (fiscalism) in the last big transition in the historical dialectic from the POV of economics/finance, and now Keynes's star is rising again.
These are two opposing ways of organizing knowledge on assumptions that are key in the historical dialectic at this "moment," and the outcome of their conflict will shape the next moment from the economic/financial standpoint.
There is a similar dialectical opposition now largely between liberalism and traditionalism, but also including fascism and communism in the political/geopolitical arena.
7 comments:
“That's right, the Federal Reserve has the unique ability to print money,”
Another Art Degree moron…
When are economics types quoting MMT going to realise that MMT is about spending (deploying physical resources), not lending.
The obsession with loans and interest rates is just unbreachable. They can't get their head around the idea that the government sector has no need to pay anybody any interest *and shouldn't*. It's just welfare payments for the rich.
Interest should be a private sector matter for the actors within the horizontal circuit to decide amongst themselves. Just like how much bread to produce today.
"The obsession with loans and interest rates is just unbreachable."
On purpose .....
Neoliberalism and globalism was founded on the idea that unelected bankers should replace elected governments.
Unelected bankers should be the allocater of both skills and real resources not elected governments.
That unelected bankers will control the unemployment rate.
Every decision made by a central bank is designed to help who ?
The poachers have become game keepers in every business sector on the planet.
“ On purpose .....”
Oh yes the good ol’ “vast neoliberal conspiracy!”…. I forgot….
“ "The obsession with loans and interest rates is just unbreachable."
Yes it’s called Monetarism and is the dominant theory in the Art Degree academe of Economics…
The obsession with loans and interest rates is just unbreachable
This assumption (belief) is foundation to their worldview as the way people structure their perception in terms of cognition into their "reality." Without this assumption, their "reality" falls apart. A world view is dependent not only on perception (data) but organizing that data into information. In that process a lot of noise can be introduced, e.g., by cognitive-affective bias, motivation, erroneous education, cultural bias, etc.
Friedman (monetarism) replaced Keynes (fiscalism) in the last big transition in the historical dialectic from the POV of economics/finance, and now Keynes's star is rising again.
These are two opposing ways of organizing knowledge on assumptions that are key in the historical dialectic at this "moment," and the outcome of their conflict will shape the next moment from the economic/financial standpoint.
There is a similar dialectical opposition now largely between liberalism and traditionalism, but also including fascism and communism in the political/geopolitical arena.
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