Category Archive: Uncategorized
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When Banksters Don’t Like the Law, Their Hired Hands in the Legislature Change It
In an excellent piece, Lawyer Roy Oppenheim warns that the Florida Legislature is moving to legalize bank theft of homes. See his piece here. As I’ve been writing for years, foreclosure is theft in most cases. You see, in their hurry to package mortgages into securities, the banksters virtually never followed the law. I won’t [...]
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Brad DeLong to Paul Krugman: Yes Deficits DO Matter in MMT
Finally, a prominent “mainstreamer” Keynesian gets MMT. Over the past couple of years, Paul Krugman has got close, but he keeps claiming that MMT believes “deficits don’t matter”. He refuses to cite any MMTer who has ever said such a silly thing. One doubts he’s actually read any serious piece by any proponent of MMT. [...]
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Eric Holder Makes it Official: Crime Is The Economic Model
It’s official. The nation’s top cop, Attorney General Eric Holder, has clearly articulated the administration’s policy on crime at the biggest banks: it will not be prosecuted. Indeed, as we’ve long expected, the criminals in top management will not be investigated, they will not be indicted, they will not be prosecuted, and they will [...]
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$100 Million Awaits First Deficit Hysterian to Prove Uncle Sam Can Run Out Of Money
Here’s a flashback to a press release from Warren Mosler’s Senate campaign in 2010. He bet that none of our deficit hysterians in Washington would be able to prove that Uncle Sam can run out of money. The money still sits on the table. Presumably Pete Peterson and his hired hysterians all know that they [...]
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MMT: Wray on the Thom Hartmann Program
Thom Hartmann continues his efforts to better understand Mondern Money Theory (MMT) by talking with Dr. L. Randall Wray, Professor, Economics, University of Missouri-Kansas City & Senior Scholar, Levy Economics Institute / Author, Modern Money Theory. Video Here. Or watch below: Part 1 Part 2 Part 3 Part 4 Part 5 Part 6 Videos available [...]
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Essential Viewing: Stephanie Kelton on Chris Hayes
From Hullaballoo: Heresy on Up With Chris by digby Up with Chris Hayes was just excellent this morning and I’m excerpting pieces of it below. I would encourage you to watch the whole thing, but the following segments that discuss the sequester and the budget wars are nearly heretical in their rejection of the normal [...]
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The Fiscal Cliff (Video)
Last week I mentioned my presentation, the Steinhardt Lecture at Lewis & Clark College in Oregon. The title was: “Fiscal Cliffs, Debt Limits, and Unsustainable Deficits: Can the US Really Run Out of Dollars?” Fiscal Cliffs, Debt Limits, and Unsustainable Deficits: Can the U.S. Really Run from The Resource Lab on Vimeo. Here is the video link. [...]
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Six “Facts” About Our Debt: Corrections to Robert Solow’s Op-Ed
In yesterday’s NYTimes, Nobel winner Robert Solow tackled the US debt debate, proclaiming that while it is a serious issue, many Americans are not aware of the facts. See here: http://www.nytimes.com/2013/02/28/opinion/our-debt-ourselves.html?_r=0 Solow is a “neoclassical synthesis” Keynesian, the type of Keynesian economics that used to be taught in the textbooks. He was also on the [...]
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The Economic Crisis: Causes, Consequences, and What’s Next
I’ll be joining Frank Partnoy and Robert Brenner at a conference at UCLA tomorrow afternoon. I gave a preview in an interview on KPFK’s Beneath the Surface with Suzi Weissman; you can listen to it here: http://archive.kpfk.org/index.php. It is the Friday Feb 22 show. Details of the conference are contained on this flyer: Partnoy Wray Brenner flyer 1 [...]
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Krugman is Right about Simpson-Bowles: The Buzzards Circle the Fiscal Cliff
In a powerful piece, Paul Krugman blasts Alan Simpson as an ignoramus when it comes to federal government budgets: http://krugman.blogs.nytimes.com/2013/02/21/alan-simpson-and-bernie-madoff/?smid=tw-share. He rightly wonders why anyone takes this nutter seriously: “Simpson is, demonstrably, grossly ignorant on precisely the subjects on which he is treated as a guru, not understanding the finances of Social Security, the truth [...]
