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Tag Archives: monetary theory
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 […]
Monetary Consequence of Tariffs
MONETARY CONSEQUENCE OF TARIFFS Last week in Monetary Paradigm Reset, we talked about the challenge of explaining a new paradigm. We said: “The hard part of accepting this paradigm shift, was that people had to rethink their entire view of cosmology, theology, and philosophy. In the best case, people take time to grapple with these challenges […]
The Dollar Dilemma: Where to From Here?
The Dollar Dilemma: Where to From Here? Introduction: Where We Are It’s a fallacy to believe the US has a free market economy. The economy is run by a conglomerate of individuals and special interests, in and out of government, including the Deep State, which controls central economic planning. Rigging the economy is required to […]
Modern Monetary Theory and Strong Towns
MODERN MONETARY THEORY AND STRONG TOWNS Last year I read Debt: The First 5,000 Years by David Graeber. I found it compelling and included it in an article I wrote about Puerto Rico (“The Spooky Nature of Debt“), mentioned it in a podcast and included it in the list of books I published in December. […]
Is Washington tacitly operating under a new monetary theory?
Is Washington tacitly operating under a new monetary theory? In 2002 when soon-to-be-dismissed U.S. Treasury Secretary Paul O’Neill warned then Vice President Dick Cheney that the Bush administration’s tax cuts would drive up deficits and threaten the health of the economy, Cheney famously answered: “You know, Paul, Reagan proved deficits don’t matter.” In the wake […]
Four Reasons Central Banks are Wrong to Fight Deflation
Four Reasons Central Banks are Wrong to Fight Deflation The word “deflation” can be defined in various ways. According to the most widely accepted definition today, deflation is a sustained decrease of the price level. Older authors have often used the expression “deflation” to denote a decreasing money supply, and some contemporary authors use it […]
Why We Need a Recession
Why We Need a Recession According to the National Bureau of Economic Research (NBER), a recession is defined as a “significant decline in economic activity spread across the economy, lasting more than a few months.” Often, this is understood as two consecutive quarters of negative economic growth as measured by a country’s GDP. Public opinion is generally […]
Cyclical Changes in Business Conditions
Cyclical Changes in Business Conditions The Role of Interest Rates In our economic system, times of good business commonly alternate more or less regularly with times of bad business. Decline follows economic upswing, upswing follows decline, and so on. The attention of economic theory has quite understandably been greatly stimulated by this problem of cyclical […]
