latest conference slides
Posted by WARREN MOSLER on May 31st, 2011
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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.-
MMT: Taxes function to regulate aggregate demand, and not to raise revenue per se.
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The funds to pay taxes and buy government securities come from government spending.
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May 31st, 2011 at 4:32 pm
Good summary. Who was the audience? What was their reaction?
You should link to your slides from somewhere in the website, and PDF would be a better format than powerpoint files in my opinion.
Now you mention that horizontal loans create both deposits and reserves. Aren’t reserves only created/destroyed vertically?
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WARREN MOSLER Reply:
June 1st, 2011 at 10:16 pm
yes, good point. the reserves are ‘created’ when a loan/deposit is made because the fed ‘created’ them when it required there be reserves in the first place, which created an ‘overdrawn’ situation that wouldn’t have otherwise been there.
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May 31st, 2011 at 4:49 pm
If any one has a long ride in a car, or simply has a few hours to listen to a podcast, iTunes has the 5 part Fiscal Sustainability lectures that Warren, Randy, Bill Mitchell, Marshall, Stephanie Kelton, and Pavlina did recently. Look under “Recover the Money”. Bill is quite pithy!
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Mario Reply:
June 2nd, 2011 at 1:51 am
@Robert Kelly,
thanks I found it.
Just fyi…you mean “REFORM the money” not recover the money.
Type in “fiscal sustainability and you should find it.
Cheers!
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Robert Kelly Reply:
June 2nd, 2011 at 3:46 pm
@Mario,
Thanks for the correction. Also of note is the Q&A after each speaker. I found it all very worthwhile.
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May 31st, 2011 at 8:01 pm
This link will get you started on the podcasts: http://itunes.apple.com/us/podcast/id355199643?i=93461789
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June 1st, 2011 at 10:09 am
Great presentation. Also, thanks to Robert Kelly and JD Palmer for reference and link.
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WARREN MOSLER Reply:
June 1st, 2011 at 10:18 pm
thanks!
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June 3rd, 2011 at 12:37 am
As a full time RV’er I would suggest re writing this material to an eight grade level and put it on Billboards throughout the country. It is the only way for these ideas to be disseminated to thhe majority of Americans who currently receive their information from the various “Opinionologists” I for one would be willing to make a modest donation towards that cause. If you’ll forgive my observation I think it more effective then running for office where the audience is essentially self selecting.
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