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China’s Banking Assets Are $52 Trillion, Growing By $40 Trillion Since 2008: “This Is What Hyper MMT Looks Like”
China’s Banking Assets Are $52 Trillion, Growing By $40 Trillion Since 2008: “This Is What Hyper MMT Looks Like” Thermodynamics “The interaction of inflation-focused monetary policies in the west and China’s mercantilist model created what I call The Refrigeration Mode,” said the CIO, sitting atop his prodigious pile. “The process has been ongoing for twenty years,” […]
A tale of two civilisations
A tale of two civilisations In recent years, America’s unsuccessful attempts at containing China as a rival hegemon has only served to promote Chinese antipathy against American capitalism. China is now retreating into the comfort of her long-established moral values, best described as a mixture of Confucianism and Marxism, while despising American individualism, its careless […]
Here is The Hidden $150 Trillion Agenda Behind The “Crusade” Against Climate Change
Here is The Hidden $150 Trillion Agenda Behind The “Crusade” Against Climate Change We now live in a world, where bizarro headlines such as the ones below, have become a daily if not hourly occurrence: *TREASURY TO STUDY IMPACT OF CLIMATE ON HOUSEHOLDS, COMMUNITIES *TREASURY LAUNCHES EFFORT ON CLIMATE-RELATED FINANCIAL RISKS *BRAINARD: CLIMATE-SCENARIO ANALYSIS WILL […]
Karl Marx’s Road to Hell is Paved with Fake Money
Karl Marx’s Road to Hell is Paved with Fake Money “The way to Hell is paved with good intentions,” remarked Karl Marx in Das Kapital. The devious fellow was bemoaning evil capitalists for having the gall to use their own money for the express purpose of making more money. Marx, a rambling busybody, was habitually wrong. The […]
MMT Has Lit the Fuse on This Inflation Powder Keg
MMT Has Lit the Fuse on This Inflation Powder Keg An economic framework called Modern Monetary Theory (MMT) governs the financial world today, but fails to account for the consequences of its practices. In fact, MMT is leading us to an extremely dangerous financial situation that could blow up at any time. What is MMT? […]
Book Review: The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy
BOOK REVIEW: THE DEFICIT MYTH: MODERN MONETARY THEORY AND THE BIRTH OF THE PEOPLE’S ECONOMY In January, the Congressional Budget Office (CBO) released its Budget and Economic outlook for 2020 to 2030. It is horrific reading. Federal budget deficits are projected to rise from $1.0 trillion this year to $1.3 trillion over the next 10 […]
Blain’s Morning Porridge – 21st August 2020 – John Law’s MMT revisited
Blain’s Morning Porridge – 21st August 2020 – John Law’s MMT revisited “Earlier today apparently a woman rang the BBC and said she had heard that there was a hurricane on the way. Well if you are watching, don’t worry, there isn’t.” It’s blowing a full hooley out there this morning, which is very bad news […]
US Facing Mounting Debt Amid Global Pandemic – ABC
US Facing Mounting Debt Amid Global Pandemic – ABC Good interview with Professor Barry Eichengreen of UC Berkeley, a good friend of GMM, and odds on favorite to be a Nobel laureate one day. We agree with him that now is not the time to worry about the public debt as we are already down this rabbit hole and […]
Will MMT Trigger the Collapse of “Money”?
Will MMT Trigger the Collapse of “Money”? If the supply of money in an economy is $1 billion, each unit of currency buys X (the purchasing power of each unit of currency). If the money supply is doubled without any expansion in the consumers’ pool of goods and services, the purchasing power of each unit […]
What the Hell is the ECB Doing?
What the Hell is the ECB Doing? Danielle DiMartino poses an interesting question regarding the ECB. I have a set of answers. What is the ECB Doing? I started thinking about that question weeks ago. I have a set of answers and even started writing this post before DiMartino brought it to the forefront. There […]
Debasing the Baseless–Modern Monetary Theory
DEBASING THE BASELESS – MODERN MONETARY THEORY Populist politicians are turning to Modern Monetary Theory Fiscal stimulus has not led to significant inflation during the last decade MMT is too radical to be adopted in full but the allure of fiscal expansion is great Asset markets will benefit over the medium-term A recent post from […]
Not Modern, Not About Money, and Not Really Much of a Theory
NOT MODERN, NOT ABOUT MONEY, AND NOT REALLY MUCH OF A THEORY “Ignoring MMT’s rising popularity would be about as smart (and effective) as a dog barking at the waves in the ocean.”–KEVIN MUIR, author of the avant garde financial newsletter, The Macro Tourist “I believe that all good things taken to an extreme become self-destructive […]
Lacy Hunt Blasts MMT and Speaks of Hyperinflation If Implemented
Lacy Hunt Blasts MMT and Speaks of Hyperinflation If Implemented In the Hoisington First Quarter Review, Lacy Hunt blasts MMT as “self-perpetuating” inflation. Please consider the Hoisington Investment Quarterly Outlook for the first quarter of 2019. MMT Leads to Hyperinflation Under existing statutes, Fed liabilities, which they can create without limits, are not permitted to be used […]
MMT Is a Recipe for Revolution
MMT Is a Recipe for Revolution Historian Stephen Mihm recently argued that based on his reading of the monetary system of colonial Massachusetts, modern monetary theory (MMT), which he cheekily referred to as PMT (Puritan monetary theory), “worked — up to a point.” One can forgive him for misunderstanding America’s colonial monetary system, which was so much […]
The Real Problem With Modern Monetary Theory
The Real Problem With Modern Monetary Theory MMT supporters will point to 2008 and say, “Just look at QE. In 2008, the Federal Reserve Balance sheet was $800 billion. But as a result of QE1, QE2, and QE3, that number went to $4.5 trillion. And the world didn’t end. To the contrary, the stock market […]
