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Money and Banks
The problem with China is that the entire economy is a huge indebted model that needs almost ten units of debt to generate one unit of GDP, three times more than a decade ago.
The One Ring of power stands for the particularly evil idea of creating a state of states, a world government, a world state. A one-world fiat currency is similarly dangerous.
The new "2 percent average" standard from last year helped the inflationists, but there are now calls for scrapping the "too low" 2 percent inflation limit altogether.
An economic depression is not caused by a decline in the money supply per se, but results from a shrinking pool of savings made possible by a previous bout of monetary inflation.
A euro collapse, rather than gas prices and bottlenecks, is the most likely source of sustained high CPI inflation in Europe following the Merkel era.
As Japan did, the eurozone is betting all on government spending, stimulus packages, and massive debt monetization. In other words, there is no real economic recovery in sight.
Some fed officials simply shrugged off what was an obvious conflict of interest when they traded stocks and real estate holdings while making policy. The rules don't apply to central bankers.
Petrou's new book on monetary policy details how the Fed's turn toward QE and ultralow interest rates have done wonders for billionaires while impoverishing millions of ordinary people.
Without establishing the underlying causes of boom-bust cycles, employing policies in response to changes in economic indicators to counter economic cycles is likely to destabilize the economy.
MMT is a pseudoreligious conviction that anything is possible and that the one and only solution is always Glorious Government.