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The book I always recommend is L. Randall Wray's book, "Understanding Modern Money, " because it is at once authoritative, readable, detailed, and available used at reasonable price, under 40 bucks. This was published in 1992, but is by no means out of date except in minor detail with perhaps...

Governments that issue their own fiat money control the amount of money they spend into their economies and the amount of money they sidetrack via bond sales. Furthermore, they accept only the money they issue in payment for taxes, and that's for a very good reason. If they allowed crypto...

For the record, I have always been against the Moscow Mitch incarnation of the filibuster! In my opinion it is in clear conflict with the Senate's duties as prescribed by the Constitution. The "standing filibuster" as in Strom Thurmond's day, is not, I believe, in violation, at least not in...

We may both be right!

Republicans, for as long as I can remember, have made tax cuts their number one priority; applied, without exception, so as to help Capital more than Labor and grow the deficit. In a perverse way, this is consistent with their belief that government "is the problem; not the solution" ; so as...

No, we won't.

My guess is that if a company that has been padding their profits via government subsidy of their lowest wage workers suddenly starts paying 15/hr, they will be surprised at how easy it is to hire reliable workers once government support payments dry up. That will mean that the companies doing...

Some economists believe it was it a mistake not to pump more stimulus into the economy coming out of the Great Recession. They say that then we would have recovered much faster than the ten years it took to get back to full employment. I think if you were to ask Obama why more wasn't done...

Nevertheless, you can see how difficult it will be for those whose stimulus checks got them up to the 15/hr level to go back to less. It's going to put even more pressure on Congress to pass the 15/hr minimum.

It wasn't my question however. I agree with you re a main reason. There are other fundamental reasons as well. That "WHY" was part of the NYT Headline.

That's a more reasonable position. But I can also see the good sense and benefits to come from bumping the the lowest wage folks up to a living wage and from holding the line on higher paid laid-off workers who will nevertheless struggle to squeak by on what seems to others to be overly...

Wait a minute. Wait a god damned minute. Are you saying we shouldn't have helped these folks who would have otherwise been on breadlines , as many were, when their jobs suddenly disappeared from under them. Because despite there being no jobs, your conviction that they must be a lazy bunch of...

I think you missed my point again. Let's wait a bit to make that call. those service sector jobs are just now starting to open up again. And congratulations if your hauling in 400K/yr or more. Nice going. The rest of us will see a little increase but not much most of this stimulus is going to...

Not sure, but you may have inadvertently made one of my earlier points that as long as these payments are there, employers will have to compete. I concluded that's not necessarily a bad thing! You won't be surprised to learn that for many, many years some economists have been proposing that...

I've lost track of when Trump's "personally signed" checks* hit mail boxes, but isn't "March" right now? And correct me if I'm wrong, but didn't Biden win the last election? One thing I'm pretty sure of is that when Trump sent me that check there were way too few jobs in the service sector...

Let me throw in a word of grandfatherly caution here. There's much jumping to conclusions in the posts to this thread one week after the Biden Admin stimulus and/or rescue checks (whatever you prefer to call them) started going out -- "Millions of Jobs, Nobody Will Work". It might be a good...

Yah. It was the NYT's "Why", that was supposedly answered in the article. But I would say Tradingforaliving is on the right track. This is going to be a huge demand side stimulus coming down the pike, something that it seems would never have occurred to a Republican Senator... Economists...

I have a suggestion for the name of the new network: "Echo Network". I hope it's every bit as successful as "Trump Vodka", or the Trump "Presidency" was.

Question? What was the question?

What makes you think the monetary system is broken? A gold standard, or any other commodity standard, is impractical unless the price of that commodity can be controlled. Even then, it makes no sense in today's world. A monetary system based on fiat money that floats according to supply and...