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The problem, I would guess, that GWB was referring to is that the charts were from the media and not from the original source. As such, they can be, and very often are, taken out of a broader context. The result can be misleading, even if technically correct. For example, Bloomberg Printed...

If you ignore Japan.

Read the new addition of L. Randall Wray's : "Modern Money Theory" it will answer all your questions. Or buy a used copy of "Understanding Modern Money", This latter book is Wray's masterful, scholarly work on fiat money. By now a classic work in MMT. Thoroughly referenced. Or read...

This is all correct but misleading. CDC HAS NOT STOPPED TRACKING BREAKTHROUGH CASES THAT WERE HOSPITALIZED. _______________________________________________________________ Just so you'll know, As of July 26, 2021, The percent fully vaccinated that have been hospitalized due to Covid...

This is about the most up to date data available from CDC as reported by CNN yesterday: where you see ellipses I have omitted photos to save space: About 99.999% of fully vaccinated Americans have not had a deadly Covid-19 breakthrough case, CDC data shows By Deidre McPhillips and Christina...

Ha ha, DeJoy, another wonderful example, of how the Republicans will try and take a wrecking ball to any government body they want to privatize. And who better to swing the Wrecking Ball then someone who has a controlling interest in a private, for profit, competitor. Talk about a conflict in...

Open most undergraduate texts in Economics and you can read about "Regulatory Capture." The U.S. System of Medical Care is the poster child for "Regulatory Capture." There can be no better example of its pernicious effects.

The common tactic of "conservatives" both in the U.K. and in the U.S., if they can't get their way in one fell swoop (or one swell foop!) is to ruin anything they don't like bit by bit. Then they'll say, "see, I told you it wouldn't work". They are taking that approach to social security. They...

I figured it out years ago, and I'm not even a caveman. Capitalism can never succeed in a market where both the buyer and seller are not free to walk!

Did you have France in mind?

Wow!!! only max of 20,000 Pounds (~28,000 $; less than a new car) compared to $123,000 for ave cost of coronary bypass surgery in the U.S. in 2018!!! (That's ~$142,000, inflation adjusted to 2021!) "Bring on single payer", I say. It can't happen soon enough! I tried to get an appointment with a...

Overnight was right!

I get it. You feel that way. But have you considered that the way you "feel" may be dead wrong? When you or I must buy something, and we don't have the money to pay for it, we first borrow the money, then we buy, and then we pay back our creditor over time. The order is borrowing, buying...

NOTE: The following is a brief excerpt from the Justin Fox Column in Today's Bloomberg. Please visit Bloomberg.com for the entire article. From today's Bloomberg Economics GDP Growth Under Trump Was the Worst Since Hoover The pandemic was partly to blame, and there are some measures that make...

You understand nothing of what I posted. I'm perfectly OK with that.

You should read again what I wrote. The United states does not borrow in the usual sense of the word "borrow" and has no "debt" in usual sense of the word "debt". The amount of money it can print and spend into the economy without debasement is limited by productivity. I have made this clear...

Of course they can, but why would they want to? And this has nothing to do with MMT, which you brought up. MMT in fact is all about getting the amount of money supplied to an economy correct to avoid unemployment and the adverse effects of either too little or too much money printing. It's...

When you post remarks such as this: "yes there is no limit to this [amount of new money created]", you betray an astounding naivety for someone who claims to be an economist. With regard to MMT, your characterizations are incorrect. Obviously you haven't studied MMT it in any depth. As a...

Let's hope. Nevertheless I would strongly encourage anyone to get fully vaccinated against Covid, especially since we are lucky to have the new mRNA vaccines available in the U.S. It can be a very nasty virus.

I don't know what you mean by the second degree of separation, but please don't feel obligated to explain. I'm fine with things as they are. There is a guy here that used to trade bonds for a bank, that means, i would think, that he dealt regularly with the fed. He wouldn't have to know...