Those who advocate for a "weak dollar" to encourage trade with American firms show how little confidence there is in American industry. Meanwhile, cheapening the dollar punishes savers and ordinary workers.
As confidence in the dollar falls, Americans put more of their money in gold, silver, and cryptocurrencies. State governments can help this process along by deregulating sound money.
As a follow-up to his discussion on MMT with Rohan Grey, Bob goes solo to explain the basic cash balance framework for thinking about money, inflation, and debt.
If there is a new dawn, it is for the Sinicization of Europe—China-style stimulus administered alongside a severely ailing financial system kept whole by widespread financial and monetary repression.
According to Keynesians, wealth effects result from money creation, and they have a beneficial impact. The Keynesians are right that wealth effects exist. But they're wrong about who benefits.
If there is a new dawn, it is for the Sinicization of Europe—China-style stimulus administered alongside a severely ailing financial system kept whole by widespread financial and monetary repression.
Proponents of modern monetary theory have come up with their own idiosyncratic definition of savings in support of their theory. But the common usage of the term shows MMT doesn't work the way its supporters think it does.
Our current position on debt seems to be akin to saying the only way to keep from drowning is pouring more water over the victim.
According to Keynesians, wealth effects result from money creation, and they have a beneficial impact. The Keynesians are right that wealth effects exist. But they're wrong about who benefits.
Our current position on debt seems to be akin to saying the only way to keep from drowning is pouring more water over the victim.
