Hell No! The Ultimate Pushback against the Grand Bargain
The underlying rationale for “a Grand Bargain” and the President’s deficit reduction budget including cuts to both Social Security (SS) and Medicare and many valuable discretionary programs, apart from...
View ArticleAnd the Last Shall Be First – It Was the Peanut Farmer, Not the Tall Guy or...
By Warren Mosler (Cross-posted with permission of the author from The Center of the Universe) (Editor’s note: I think this reaction of Warren’s to the death of Margaret Thatcher is pretty unique and...
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Reply to Reinhart and Rogoff’s NYT Response to Critics
Warren B. MoslerBy Warren Mosler (Cross-posted with permission of the author from The Center of the Universe) The intellectual dishonesty continues. As before, it’s the lie of omission. R and R are...
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Make ‘em Prove the Causality Before They Cause Any More Suffering: Part One
OK, austerity has always been about the causality. The people who are trying their best to get us to cut more and more spending, somewhat less than their best to get us to raise taxes, and who are...
View ArticleMake ‘em Prove the Causality before They Cause Any More Suffering: Part Two,...
In Part One, I asked whether the Carmen Reinhart/Kenneth Rogoff study and book didn’t show that, on average, nations experiencing debt-to-GDP ratios above 90% had negative rates of economic growth? And...
View ArticleMake ‘em Prove the Causality before They Cause Any More Suffering: Part...
This post is a more complete statement of my conclusions based on the analysis in Parts One and Two of this series. As I’ve explained in Part Two, there’s no reason in the Reinhart-Rogoff (R-R) data to...
View ArticlePass “The Pay China First Act:” End Debt Ceiling Hostage-taking for Good!
On May 9, 2013, The Republican House passed H.R. 807 the Full Faith and Credit Act. The Bill says in part: (a) In General- In the event that the debt of the United States Government, as defined in...
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Sorry Folks, Austerity’s Not Dead Yet!
It makes a good headline; but it’s dangerous to say “austerity is dead,” just because new budget projections indicate that the deficit has already been cut by $200 Billion more than in previous...
View ArticleWhat Social Security/Medicare Solvency Problem?
For years now, economists using the ideas of Modern Money Theory (MMT) have been telling us that the so-called long-term “funding” problems of Social Security (SS) and Medicare emphasized incessantly...
View ArticleLavoie’s Critical Look at Modern Money Theory: A Reply
In October 2011 Marc Lavoie, a post-keynesian economist, very friendly to Modern Money Theory (MMT) wrote a paper presenting a friendly critical look at MMT. In his conclusion, Lavoie states that “. ....
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