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.
“It’s so easy I thought it was fake,” another applicant told the Post, explaining that all he had to do was log into his Canada Revenue Agency account, click on the appropriate link and answer three questions before getting an approval message from the CRA saying the $2,000 benefit would be in his account within three days.
Close to one million applications for the CERB — which offers people $2,000 a month for up to 16 weeks — were filed through the CRA-operated processing portal within 24 hours of the benefit becoming available, according to the federal government, perhaps the largest-ever number of unemployment claims filed in a single day to date.
MMT recommends eliminating interest rate changes and placing the currency on a labour hour standard. That's how we anchor the monetary economy to the real economy. We haven't done that - so we're still using Neoliberal stabilisation policy.
Just paying people money has a tendency to be inflationary - again as MMT explains.
It's a framing trick - this thing that was done differently must be MMT so it's MMT that's incorrect.
10 comments:
Correction: David Parkinson's older brother Mike Parkinson was my best friend growing up.
What experiment?
All the people relying on financial leverage are all pissed off now that Fed is coming up off ZIRP and are blaming MMT for the “inflation!” …
JPM is up 33% from the October 11 bottom…
BAC, C, WFC up 10-15%
Blackrock up 40%
Even DB up 70% as EZ starts to increase the rates
Lenders way up …. borrowers way down…
Lenders time to benefit after 15 years of ZIRP…
Not MMTs fault… MMT advocates for permanent ZIRP…
MMT advocates for a job guarantee... I see no sign of it in the so-called experiment.
They did direct universal income transfers …
'So easy I thought it was fake': CRA’s CERB system gets stellar reviews in first days of operation
“It’s so easy I thought it was fake,” another applicant told the Post, explaining that all he had to do was log into his Canada Revenue Agency account, click on the appropriate link and answer three questions before getting an approval message from the CRA saying the $2,000 benefit would be in his account within three days.
Close to one million applications for the CERB — which offers people $2,000 a month for up to 16 weeks — were filed through the CRA-operated processing portal within 24 hours of the benefit becoming available, according to the federal government, perhaps the largest-ever number of unemployment claims filed in a single day to date.
Meanwhile, in the US...
Stimulus Checks May Be Delayed Because Our Man-Child President Wanted His Name on Them
"They did direct universal income transfers"
MMT recommends eliminating interest rate changes and placing the currency on a labour hour standard. That's how we anchor the monetary economy to the real economy. We haven't done that - so we're still using Neoliberal stabilisation policy.
Just paying people money has a tendency to be inflationary - again as MMT explains.
It's a framing trick - this thing that was done differently must be MMT so it's MMT that's incorrect.
Theyre all pissed off Neil
https://twitter.com/convertbond/status/1610638195506511873?s=61&t=GufSJf6LNV5MbJBlX1LQbA
“ "Why is Blackstone paying Tony Soprano yields (11%) for liquidity, trying to avoid an asset fire sale to meet redemptions.”
So Blackstone puts this out
https://www.zerohedge.com/markets/byron-wien-releases-10-surprises-2023-fed-remains-more-hawkish-twitter-recovers-mmt-fully
“ This time, Modern Monetary Theory is fully discredited because deficits have proven to be inflationary.”
They have to blame somebody else as it couldn’t possibly be their own fault…
Meanwhile the banks are hoovering up munnie like crazy for first time in 15 years…
It’s like Mike says it’s just a redistribution of the spoils.. these leveraged guys are the current losers.., suck it up cupcakes.,,
Post a Comment