Heterodox
More proof we are ruled by morons. The battle line is drawn, with the ruling elite and neoclassical economists at the center and the flanks occupied by Austrians and Libertarians on the right and clueless progressives on the left, with corporate media in the background, facing off with the MMT economists at the center flanked by MMT advocates, backed by a public that agrees with genuine progressive goals. Now it is a battle for hearts and minds. Quartz Actually, deficits do matter,...
Read More »Bill Dudley — Budget Deficits Still Matter
Amazing. A major player at the Fed and key voice in setting monetary policy didn't know how the monetary system works based on correct operational understanding — which MMT provides and which he also proves ignorant about. And this when he was also serving on the FOMC and deeply involved in setting monetary policy for the US, which also affects the entire world, during the crisis and aftermath. Bloomberg OpinionBudget Deficits Still Matter Bill Dudley William C. Dudley is an American...
Read More »BIS — Speeches by Zhou Xiaochuan, Jerome H Powell and William C Dudley
Bank for International SettlementsZhou Xiaochuan: Prospects of the Chinese economy - broad-based growth Speech and Q&A by Mr Zhou Xiaochuan, Governor of the People's Bank of China, at the 32rd G30 Annual International Banking Seminar, Washington DC, 15 October 2017. Jerome H Powell: Introductory remarks Speech by Mr Jerome H Powell, Member of the Board of Governors of the Federal Reserve System, at the Roundtable of the Alternative Reference Rates Committee, The Federal Reserve Bank of...
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