MMT Archive

Mtg Purchase Apps, Arch. Billings, Japan Exports, Bernie Article

After the up and down in front of the change in regulations new purchase apps are, so far, lower than before: Fits with the permit spike/decline story, and there was also this note: The multi-family residential market was negative for the eighth consecutive month – and this might be indicating a slowdown ...Read More

School and Unemployment, Spain Conference Link

How Have Prime-Age Workers in School Affected the Labor Market? Just one of several possible factors keeping the participation rate down and the reported unemployment rate lower than otherwise, which in my narrative are the consequences of low aggregate demand/the federal deficit is too small, etc. From the St. Louis Fed: In ...Read More

The Fed’s Sort of Right Move for the Wrong Reasons

The Fed did not raise rates because the FOMC concluded this was not the time to remove accommodation. I agree this is not the time to remove accommodation. But I do not agree lower rates and QE are accommodative. Changing rates shifts income between borrowers and savers, and with the federal debt ...Read More

Krugman on debt

Debt Is Good By Paul Krugman Aug 21 (NYT) — Rand Paul said something funny the other day. No, really — although of course it wasn’t intentional. On his Twitter account he decried the irresponsibility of American fiscal policy, declaring, “The last time the United States was debt free was 1835.” Which ...Read More

WRKO The Voice of Boston Radio Interview

Click here to listen to my interview on WRKO The Voice of Boston on July 17th ...Read More

Nice Mentions in Bloomberg

Nine People Who Saw the Greek Crisis Coming Years Before Everyone Else Did By Julie Verhage and Alex Balogh (Bloomberg) Saw it all coming in 1995 and held a conference on it in 1996 in Bretton Woods. ;) ...Read More

Sanders endorsement, Greece, Passenger transportation services index

A bit of press for my endorsement of Bernie Sanders for President after a chat with Stephanie Kelton which included how they’ve been working together on his economic agenda. Warren Mosler – An International Leader in Modern Monetary Theory Endorses Bernie Sanders Varoufakis completely misses the point. First, the only way public ...Read More

Udine presentation

These are the slides of one of my presentations here in Italy. One of the main points is that the deficit limit functions to limit the euro denominated net ‘savings’ of the economy, with the unemployment the evidence that 3% currently falls short of the ‘demand for savings’. (Note that when I ...Read More

from Prof. Terzi

Presentation from Professor Andrea Terzi: The Eurozone crisis: A debt shortage as the final cause ...Read More

Kelton in the news

Some errant criticism and cheap shots, but that goes with the territory. It’s happening! (And note my comment at the end…) A Socialist Sets the Budget By Martin Longman ...Read More