Category Archives: Macroeconomic policy

The Federal Reserve’s Coronavirus Crisis Actions, Explained (Part 5)

Muni purchases are finally here

The Use and Abuse of MMT

Using government spending power to bail out financiers and rentiers makes a travesty of MMT.

Last Chance to Save the Euro?

The actions taken so far to salvage the single-currency union expose its fatal flaws. The last bout of stress will be a test to destruction if fundamental changes aren’t made.

Angela Merkel Urged To Put European Solidarity Over German Interests and Back Coronabonds

Angela Merkel is under pressure to abandon her long-standing “Germany first” policy towards the EU. Will she finally relent?

How to Pay for the Pandemic War

Government responsese to the pandemic are making a hash of one of the comparatively easy issues.

The FT Says It’s Time for the Bank of England to Start Direct Funding of the Government: Modern Monetary Theory Has Won the Day

Modern Monetary Theory has a new convert. Too bad Americans are behind the curve.

The EU’s Green Deal: Bismarck’s ‘What Is Possible’ versus Thunberg’s ‘What Is Imperative’ in the Age of Covid-19

A detailed look at the Green Deal: bold goals, with a shortage of money, transition plans, and social democracy.

The Coronavirus Depression Requires A New Approach to Budgeting

Coronavirus spending illustrates the foolishness of legislators believing their own numbers.

Tax Justice and Modern Monetary Theory – A Guide

Does Modern Monetary Theory take tax justice for granted?

The Coronavirus Stimulus Bill Is a $2 Trillion Slush Fund for Washington Cronies

Why you should hate the coronavirus “stimulus” bill.

Covid-19 Hits the Dual Economy: Incomes Destroyed at the Bottom, Profits Supported at the Top

Why preserving (big) corporate profits will not bail out the economy.

At Long Last the Government Can Borrow Straight From the Bank of England – As Modern Monetary Theory Has Always Suggested It Should

The UK embraces modern monetary theory….and perhaps hopes no one notices.

Bailout Shenanigans: Making 2008 Look Good?

The bailout bill looks shameless, even by Trump Administration standards.

Michael Hudson: A Debt Jubilee is the Only Way to Avoid a Depression

In the face of massive economic calamity caused by coronavirus, Michael Hudson argues a debt jubilee is the only way to avoid a depression.

IMF Refuses Aid to Venezuela in the Midst of the Coronavirus Crisis

The IMF dons its enforcement brass knuckles.