Category Archives: Fiscal Statements

Another fictional characterisation of MMT finishes in total confusion

I am travelling across Europe today and so am just writing this in between various commitments. I will soon be back home in Australia and have received a lot of E-mails about the way the Australian media has been treating … Read the rest of this entry »

Posted in Economics, Fiscal Statements, Framing and Language | 38 Comments

The conga line of MMT critics – marching into oblivion

The US-based Eastern Economic Association, which aims to promote “educational and scholarly exchange on economic affairs”, held its annual conference in New York over the weekend just gone. One of the panels focused on “New Views of Money” and I … Read the rest of this entry »

Posted in Economics, Fiscal Statements, Framing and Language | 53 Comments

Britain’s austerity costs are larger than any predicted Brexit losses

On February 21, 2019, the British Office of National Statistics (ONS) released the latest fiscal data for the British government – Public sector finances, UK: January 2019. There was a lot of press reaction applauding the result and even progressive … Read the rest of this entry »

Posted in Britain, Economics, Fiscal Statements, UK Economy | 17 Comments

The NAIRU/Output gap scam reprise

It is Wednesday and despite being on the other side of the Planet than usual (in Helsinki at present) I am still not intending to write a detailed blog post today. I am quite busy here – teaching MMT to … Read the rest of this entry »

Posted in Admin, Eurozone, Fiscal Statements, Higher Education, Inflation, MMT Textbook, Music | 14 Comments

The NAIRU/Output gap scam

There is a campaign on the Internet calling itself CANOO (the Campaign against nonsense output gaps) which one Robin Brooks, economist at the Institute of International Finance and former Goldman Sachs and IMF employee, is pursuing. You cannot easily access … Read the rest of this entry »

Posted in Economics, Eurozone, Fiscal Statements | 14 Comments

The erroneous ‘lets have a little, some or no MMT’ narrative

It is Wednesday – so just a few observations and then we get down a bit dirty (funky that is). Today, I consider the GND a bit, critics of MMT, Japan, and more. Never a dull moment really. I didn’t … Read the rest of this entry »

Posted in Central banking, Economics, Fiscal Statements, Framing and Language, Japan, MMT Textbook, UK Economy, US economy | 55 Comments

Those Imbecilic Keynesianisticists are loose – lock up your … whatever!

It is Wednesday – a blog lite day – sort of. I am travelling a lot today and I have a large report to finish. But I couldn’t resist typing out the term “Keynesianisticists”, which refers to those imbeciles who … Read the rest of this entry »

Posted in Economics, Fiscal Statements, Framing and Language, Hyperinflation, Music | 33 Comments

MMT is sending us crazy – the end is near … hold on, not quite near

The – Final Report – from Australia’s Royal Commission into to Misconduct in the Banking, Superannuation and Financial Services Industry was released to the public yesterday. The Commission was conducted under highly restricted terms of reference and barely scratched the … Read the rest of this entry »

Posted in Central banking, Economics, Fiscal Statements | 32 Comments

Monetary policy has failed – we must reprioritise fiscal policy

Remember back in early 2009, when the then head of the European Central Bank Jean-Claude Trichet (boasted that the “euro … is a success … it helps to secure prosperity in participating states”. He was still making these claims in … Read the rest of this entry »

Posted in Central banking, Eurozone, Fiscal Statements, Inflation | 6 Comments

Operationalising core MMT principles – Part 2

This is the second and final part of this cameo set, which aims to clear up a few major blind spots in peoples’ embrace with Modern Monetary Theory (MMT). This is all repetition. I don’t apologise for that and it … Read the rest of this entry »

Posted in Capital controls, Central banking, Fiscal Statements, Job Guarantee | 24 Comments