He is referring to Government or central bank.
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
- Thread starter piezoe
- Start date
He is referring to Government or central bank.
Still crickets on who gets first dibs on the created money. Sounds a lot like trickle down economics that the liberals supposedly mocked last decade.
When you borrow, credit is created and the money in circulation is expanded. Credit, according to Mitchell, is the determining factor in money supply. It isn't, again according to Mitchell and as commonly thought, expanded by Central Bank Bond buying. which does of course increase reserves.Who is doing the credit creation?
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What I am commenting on has to do with Treasury-Central Bank-Commercial Bank operations and nothing to do with" trickle down" economics, which is something entirely different, and not germane to this forum.Still crickets on who gets first dibs on the created money. Sounds a lot like trickle down economics that the liberals supposedly mocked last decade.
What I am commenting on has to do with Treasury-Central Bank-Commercial Bank operations and nothing to do with" trickle down" economics, which is something entirely different, and not germane to this forum.
Walk me through the process of Treasury-Central Bank-Commercial Bank operations. Tell me at which point who receives more money and why.
He lives in the US Virgin Islands because it is a tax shelter with nice weather
This is the most famous proponent of MMT. Haha. These academics are such a joke.
This Headline in today's Bloomberg (
Here I will add that contrary to popular lore, Fiat Money is not backed by "thin air" ; it is backed by productivity! So yes, deficits do matter in the long run, and they matter in proportion to productivity.
But what happens when 80% get lazy.........?[/QUOTE]
That is slack in the economy and the government will create more money to employ them. Win-win situation. If they don't want to work, they will be forced to work.But what happens when 80% get lazy.........?