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‘‘While MMT may seem like a purely theoretical construct, it should be recognized that many governments, including the U.S. government, are effectively already putting MMT into practice.’’

"After the unmitigated disaster of the global financial crisis of 2008 which the economists not only failed to foresee, but did much to help bring about by their advocacy of deregulated financial markets."

"The government’s logic lies in its ecclesiastical faith that with increased money the wealthy will splash their cash in shops and services to the extent that it will get people working again."

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With so many Americans now struggling to sustain a middle-class standard of living, threats to the nation’s long-term prosperity and to middle-class security demand a wider prism.

"Financial crises have often been touched off in the past under such conditions by the inevitable shift from policy ease to policy tightening, which is likely still at least several years away, but could surprise sooner"

"The revised fiscal 2021 estimate will be critical because it will set the boundaries of the coming debate over tax hikes, spending cuts, reserve fund use and other measures that will need to be worked into a state spending plan for the ...Read More

“Pensions are complex at the best of times, so raising awareness of the impact key life events can have on people’s savings is vital”

"High house prices, interest-only and part interest-only borrowing, and getting on the housing ladder later than previous generations all play their part in delaying the day homeowners pay off the last of their debts."

The good news is that there is little evidence that the recent increase in unemployment claims, particularly in the pandemic program, reflects a real world increase in the rate of job losses.

"Strong labour productivity growth in the 1990s enabled wages to rise without squeezing corporate profits. While the dotcom boom is often remembered for the enormous valuations achieved by profitless upstarts with no clear path into the ...Read More

It would seem that as far as macroeconomic policy is concerned, bond purchases and forward guidance are the preferred tools of the FED. But “Central bank tools cannot eliminate the direct costs of the virus, including the suffering and loss ...Read More

"Since foreign countries price their imports and exports in dollars and thus they remain vulnerable to rises in the exchange value of the dollar, as that interferes with their trade and causes the value of their debt burden to grow."