Milton Friedman: From Modern Monetary Theory to Monetarism
How Milton Friedman was an advocate of functional finance, the precursor to Monetary Monetary Theory before he wasn’t.
Read more...Category Archives: Macroeconomic policy
Bond Markets Do Not Rule – Governments Do
A reminder that the bogeyman of bond vigilantes, as in investor/capitalist dominance, is overdone.
Read more...Powell Tap Dances on Interest Rate Outlook as Stagflation Starts to Kick In
Powell threw Mr. Market and Trump a bone by hinting the Fed might cut rates in Sept. But the Fed lacks good options with stagflation looming
Read more...CBO Confirms Trump Budget Law Will Trigger Over $500 Billion in Automatic Medicare Cuts
Tax breaks for billionaires are set to force over half a trillion dollars in Medicare cuts.
Read more...Why “Spend Before Tax” Is the Key to Unlocking a Future for Young People
The future younger people inherit is being decided less by the constraints of economics than by the limits of political imagination.
Read more...Abundance of Accelerationism: Democrat Rebrand Promises to Keep Foot on the Breakdown Gas
If Elon Musk were to really start his own political party, would that signal that the donor class no longer has any use for the Democrats?
Read more...Trump’s Self-Destructive Fight with the Fed for Low Interest Rates: His “Fiscal Dominance” Game of Chicken
Trump is fighting another war he can’t win: trying to use interest rates to counter the inflation created by his yawning fiscal deficits.
Read more...Why UK [and US] Governments Are Never Dependent on Financial Markets
As Mr. Market idelivers a big raspberry in response to Trump’s big beautiful bill, remember it won’t affect the ability to keep spending
Read more...Michael Hudson: The Collapse of America’s Economic Empire
Michael Hudson, expanding on his seminal work Super Imperialism, chroniciles the rise and in-process decline of US financial hegemony.
Read more...The Millionaire Exodus Myth
Millionaires are not fleeing countries to escape taxes.
Read more...Downgrading Uncle Sam, Not America
An orthodox economist describes inconsistencies in rating agencies’ approach to downgrading US debt and their view of reserve currency status
Read more...The Economic Consequences of the Second Trump Administration: A Preliminary Assessment
An overview of the economic impact of Trump’s second term flurry from some Serious Economists. They don’t find much to like.
Read more...Yanis Varoufakis: The Economics of Europe’s Descent into Warmongering
The long path that has led Europe to see big defense spending will be a lifeline, hence the need to stoke war fever.
Read more...Satyajit Das: A Fist Full of Dollars
Two recent books seem unduly complacent about the status of the dollar as reserve currency.
Read more...The Projected Death Count from Trump’s One Big Beautiful Bill
Researchers projects that “big beautiful bill” cuts to public health insurance coverage may lead to upwards of 51,000 deaths a year.
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