Wednesday , April 24 2024
Home / Mike Norman Economics / As US Modern Monetary Theory advocates make their case in Australia, Gareth Vaughan explains the world through their lens and how it might go down in New Zealand — Gareth Vaughan

As US Modern Monetary Theory advocates make their case in Australia, Gareth Vaughan explains the world through their lens and how it might go down in New Zealand — Gareth Vaughan

Summary:
This article, which is favorable to MMT, contains a good explanation of what MMT is and isn't.interest.co.nzAs US Modern Monetary Theory advocates make their case in Australia, Gareth Vaughan explains the world through their lens and how it might go down in New ZealandGareth VaughanAnother side of the story.[US] Conservatives, [El Salvador’s President Nayib Bukele] said, “always tell me that the problem is high taxes, but they are wrong.”“The real problem is that you pay high taxes only to uphold the illusion that you are funding the government, which you are not,” he claimed, before describing how the government is financed by Treasury bonds, which are purchased by the Federal Reserve with printed money backed by the bonds themselves.“The government is funded by money printing, paper

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

New Economics Foundation writes New Economics Podcast: Why is the benefits system failing disabled people

Michael Hudson writes Jill Stein: Splitting the Pro-Imperial Vote

Editor writes In search of radical alternatives

Stavros Mavroudeas writes «Οι καταστροφικές επιπτώσεις της ΕΕ στην Ελλάδα και τους εργαζόμενους» – Στ.Μαυρουδέας ΠΡΙΝ 20-21/4/2024

 This article, which is favorable to MMT, contains a good explanation of what MMT is and isn't.

interest.co.nz
As US Modern Monetary Theory advocates make their case in Australia, Gareth Vaughan explains the world through their lens and how it might go down in New Zealand
Gareth Vaughan

Another side of the story.
[US] Conservatives, [El Salvador’s President Nayib Bukele] said, “always tell me that the problem is high taxes, but they are wrong.”

“The real problem is that you pay high taxes only to uphold the illusion that you are funding the government, which you are not,” he claimed, before describing how the government is financed by Treasury bonds, which are purchased by the Federal Reserve with printed money backed by the bonds themselves.

“The government is funded by money printing, paper backed by paper. A bubble that will inevitably burst,” he said, adding that “the situation is even worse than it seems, because if most Americans and the rest of the world were to become aware of this farce, confidence in your currency would be lost. The dollar will fall, and Western civilization with it.”

RT — Question More (Russian state-sponsored media)
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *