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24
Jan

What would happen if a Sovereign Currency Issuing Government with a floating exchange rate ran a Fiscal Deficit without Borrowing?

moneyThere is no nexus that demonstrates that borrowing has anything to do with “financing” government net spending. Borrowing is a monetary operation aimed at interest-rate maintenance.

 

Read more at: The Australian Independent Media Network

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24
Jan

We are governed by Idiots

imageAfter several interest rate reductions over the past two years, a tool used by the Reserve Bank to stimulate activity, not much has happened. Business has not been prompted to invest and consumer spending is flat. So one might well ask, what’s going on behind the scenes?

Read more at: The Australian Independent Media Network

24
Jan

This Bernie Sanders’ Appointee Has Proposed an ELR- So Who is She and What is That?

The Déclassé Intellectual

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An Employer of Last Resort, also known as a job guarantee, is exactly what it sounds like. It is a promise by the government through either through private partners in the community or through government institutions to provide a job to any worker who is able and willing to work but cannot find suitable (or any) employment in the private sector.

In December of 2014 Bernie Sanders appointed Stephanie Kelton to be the Chief Economist for the Democrats on the Senate Budget Committee.

Dr. Kelton is a Research scholar at the Levy Economics Institute of Bard College, the founder and editor in Chief of one of the world’s most prescient economics blogs New Economic Perspectives and an Associate Professor at the University of Kansas City Missouri. She is also one of the leading proponents of a federally funded ELR.

As one of the world’s most prominent…

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