MMT Archive

MMT to Obama- Taxes Function to Regulate Aggregate Demand, Not to Raise Revenue per se

We, the undersigned economics and financial professionals, seeking to foster world prosperity, send the following urgent message to President Obama and the US Congress: Taxes Function to Regulate Aggregate Demand (total spending), Not to Raise Revenue per se That means: Federal spending is NOT inherently dependent on revenues from taxing or borrowing. ...Read More

Death by 1000 cuts: The economics of innocent subversion

Even NY Fed Chief Bill Dudley, well aware of his role as a manager of expectations, is worried: Dudley Headlines: DUDLEY SAYS IMPORTANT NOT TO OVERREACT TO RISING INFLATION DUDLEY ATTRIBUTES LOSS OF MOMENTUM TO RISING OIL PRICES DUDLEY SAYS U.S. ECONOMY LOST SOME MOMENTUM IN PAST TWO MONTHS Last I heard ...Read More

Mosler virtual MMT interview

Link to interview here. ...Read More

U.S. Consumer Spending/Credit

This is a good sign top line growth was continuing it’s modest growth in March. Federal deficit spending continues to work to add the income and savings that allows consumers to both reduce their credit card debt and expand their consumption. Deficit spending continues to be sufficient to support the modest GDP ...Read More

UMKC Honor Roll: MMT/PH.D Graduate Students

A very special thanks to all of you who help support our grad students. As you can see from the attached list, many are now out spreading the word at the university level. Also, Jim is still open to donations to the UMKC Ph.D program. Hi Warren I hope this finds you ...Read More

Wall of Shame

Unsustainable budget threatens nation March 24 (Politico) — Repeated battles over the 2011 budget are taking attention from a more dire problem—the long-run budget deficit. Divided government is no excuse for inaction. The bipartisan National Commission on Fiscal Responsibility and Reform, under co-chairmen Erskine Bowles and Alan Simpson, issued a report on ...Read More

Harvard’s Mankiw- a disgrace to the economics profession

CAUTION: BE SEATED WHEN READING COMMENTS BELOW: It’s 2026, and the Debt Is Due By N. Gregory Mankiw March 26 (NYT) The following is a presidential address to the nation — to be delivered in March 2026. My fellow Americans, I come to you today with a heavy heart. We have a ...Read More

Haley Barbour’s ‘innanity’

Barbour slams Obama on taxes, economy By Jillian Harding March 26 (CNN) — Mississippi Republican Gov. Haley Barbour on Saturday criticized President Obama’s economic policies and urged fiscal discipline in Washington. Speaking in Des Moines, Iowa, to a crowd of conservative activists, the potential 2012 GOP presidential contender said, “When the government ...Read More

US Approaching Insolvency, Fix To Be ‘Painful’: Fisher

I waited a couple of days before doing this thinking there might be some retractions. Or some serious mainstream push back. But apparently not. Apparently this high ranking Fed official, as well as the mainstream financial press, actually believes the US Government could lose it’s ability to make payments, demonstrating they all ...Read More

Reuters Insider Videos

Warren on Reuters Insider: Deficit Cuts Could Lead to Depression, Hedge Fund Head Says After the Quake: Japan Avoids Currency Manipulator Status The Fed Has It All Wrong, Hedge Fund Manager Mosler Says ...Read More