The reality is that it is only real resources, not monetary ones, that give life to and sustain an economy. From people to the physical resources employed in providing the things that keep society functioning. That is what must be managed for the public purpose. And the only burden that will be faced by future generations will be the one caused by insufficient government spending today to ensure a productive and sustainable future tomorrow.The Gower Initiative for Modern Money Studies
The needs of people must prevail over myths of a duty to balance the books
https://gimms.org.uk/2022/04/10/people-over-myths/
“ must prevail over myths”
ReplyDeleteIt’s not a myth…
“ a traditional story, especially one concerning the early history of a people or explaining some natural or social phenomenon, and typically involving supernatural beings or events.”
The books come first; the people come last. Because... priorities.
ReplyDelete
ReplyDeleteReal Gross Private Domestic Investment.Shows in inflation-adjusted terms how much firms have spent on adding to and maintaining physical cap
On the one hand, so what? Investment is the single most volatile component of GPD and we therefore witness many sometimes significant increases and decreases. Roughly six out of ten times, it rises; and roughly four out of ten, it falls. That’s not that far from 50-50. Surely decreases three-in-a-row is not unusual.
As a matter of fact, it’s not. This has happened thirty-three times since 1947. Unfortunately, however, only twice has it occurred without it being either in the year leading up to a recession or in the midst of one.
That was a strong figure in April.
Real Gross Private Domestic Investment drives a lot of things in the economy.