Profiles

Those who defend the science fiction fallacy of MMT say that if the government cuts the deficit, then the world will run out of US dollars and there will be a global monetary meltdown. This is so ludicrous that it should not even have to be discussed.

If the only antidote offered to prevent a 2008-style contraction is monetary easing, then the risk of stagflation is even higher. Without drastic cuts to deficit spending, or a recession, the likely outcome is stagflation.

This is the first time in human history that the energy transition has been decided by politicians without allowing technology, competition, or human ingenuity to come up with a better, more flexible, and more economical alternative.

We should not be surprised that credit in the eurozone is falling along with monetary aggregates. The entire burden of monetary normalization is falling on the productive sector, families, and businesses, while many governments continue to increase deficit spending.

Most BRICS currencies are weak and getting weaker, and creating a new joint  "BRICS currency" won't solve the problem.  Joining together a bunch of weak currencies does not somehow create a strong currency.