Steve Roth — An MMT Thought Experiment

I ask not just for clarity, but because (as always), I’m struggling with the relationship between fixed assets and financial assets, between saving and investment.

Read it at Angry Bear
An MMT Thought Experiment: The Arithmetic and Political Mechanics of Net Financial Assets
by Steve Roth
(h/t Kevin Fathi via email)

Angry Bear — It's the Private Debt, Stupid

Read it at Angry Bear
It's the Private Debt, Stupid
Posted by Steve Roth
(h/t Kevin Fathi via email)

Go figure.

When really smart people like Ben Bernanke constantly ignore an elegant, simple, even obvious explanation that's been lying on the ground, ready to pick up, for at least 75 years, you gotta figure they've got some incentive -- whether they're conscious of it or not.

Must read.