MMT Archive

BoJ Gov Shirakawa – Japan’s Fiscal Situation “Very Severe”

Because they think they could be the next Greece they *are* Japan. BOJ’s Shirakawa Says Japan’s Fiscal Situation Is ’Very Severe’ By Mayumi Otsuma March 23 (Bloomberg) — Bank of Japan Governor Masaaki Shirakawa said that while Japan’s fiscal situation is “very severe,” investors’ trust in the country’s policy makers is keeping ...Read More

Japan- economic ramifications

Nothing much to say here about the financial aspects. Need to see how they react. Best I can tell this doesn’t effect the world economy all that much. Oil demand may initially fall some, due to a temporary reduction in consumption and maybe a refinery shut down. And domestic demand in general ...Read More

A few Boehnalities and other notables on the US going broke

Cross currents of right and wrong but always for the wrong reasons. Bonds Show Why Boehner Saying We’re Broke Is Figure of Speech By David J. Lynch March 7 (Bloomberg) — House Speaker John Boehner routinely offers this diagnosis of the U.S.’s fiscal condition: “We’re broke; Broke going on bankrupt,” he said ...Read More

Excellent post on the MMT controversy

Straw Men (And Women) By Peter Cooper This post is for all the MMT foot soldiers out there in cyberspace, including myself and most readers (prominent MMT economists who are kind enough to drop in from time to time excepted, of course). Come on, we know who we are. Battling it out ...Read More

FMOC Minutes

New Forecasts (central tendency and range of forecasts) in Table 1 below: Long-Run inflation forecast of 1.6-2.0% is basically their target; 2011 and 2012 unemployment forecasts revised up by 0.6-0.7%. Note that low-end of GDP forecast for 2011 is 2.5%. This is above many other forecasters. Interesting Observations from FRB Staff; Outlook ...Read More

Zoellick Sees ‘Elephant,’ Not Endorsing Gold Standard

Back pedaling from yesterday’s remarks, but just getting the fish hook in deeper. Gold is a non financial asset,not an ‘alternative monetary asset’ Starting to look like the QE fairy dust is wearing off. The dollar selling was the focus of the ‘risk on’ hysteria, and it looks like the dollar may ...Read More

Highlighted comment

Colin Kendall Says: November 4th, 2010 at 10:36 am I am a new convert to the ideas of MMT. As a British Mensa member, it is quite embarrassing for me to admit that for the first sixty years of my life I believed every one of Warren’s Innocent Frauds. ...Read More

MMT and Fed/Treasury operations

Excellent- an instant classic! Modern Monetary Theory—A Primer on the Operational Realities of the Monetary System By Scott Fulwiller ...Read More

Paul Krugman Blog –

The way I read it, he’s agreed that it’s about inflation, not solvency. That is, in ratings agency speak, willingness to pay could be an issue, but not ability to pay. That’s enough for me to declare victory on that key issue, and move on. Not that I at all agree with ...Read More

MMT Blog

Credit and Credibility ...Read More