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Twilight of the Blobs
Twilight of the Blobs “Respect the blob, learn from the blob, love the blob.” — Robert Kagan, Arch Blob Monster, Brookings, 2020 HG Wells concocted a marvelous trick ending to his classic tale The War of the Worlds (1897). Remember: the colossal Martian tripod “fighting machines” swarm all over the planet zapping cities with “heat […]
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 […]
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 […]
Do You Believe in Magic?
Do You Believe in Magic? The people pretending to run the world’s financial affairs do. The more layers of abstract game-playing they add to the existing armatures of unreality they’ve already constructed, the more certain it becomes that they will blow up all the support systems of a sunsetting hyper-tech economy that now has no […]
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? […]
Penalizing Prudence
PENALIZING PRUDENCE “Economy, prudence, and a simple life are the sure masters of need, and will often accomplish that which, their opposites, with a fortune at hand, will fail to do.” – Clara Barton “Affairs are easier of entrance than of exit; and it is but common prudence to see our way out before we venture […]
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 […]
Powell: “Now Is Not The Time To Be Concerned About Debt”
Powell: “Now Is Not The Time To Be Concerned About Debt” In what was perhaps the most illuminating soundbite from the Powell press conference, in response to a question about the sustainability of the US fiscal trajectory in general, and the soaring debt and deficit in particular – both of which the Fed is now […]
Doug Casey on What the International Ruling Class Have Planned for You
Doug Casey on What the International Ruling Class Have Planned for You International Man: No matter the problem, the prescription of the Davos crowd is always more welfare, more warfare, more money printing, more taxes, and of course, more centralization of power into global institutions. What’s your take? Doug Casey: The people who attend Davos […]
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 […]
ECB Official: Can Use Portfolio To Combat Climate Change
ECB Official: Can Use Portfolio To Combat Climate Change Central banks have been making all kinds of ridiculous climate change statements in the last several quarters. Some monetary authorities have even said, they could also expand balance sheets to purchase climate-related financial investments. Sabine Lautenschläger, Member of the Executive Board and Governing Council of the […]
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 […]
