Tag Archives: GND

It seems now very opportune that I recently posted three times on my blog my views on Modern Monetary Theory (MMT), an increasingly attractive theory for the left to justify government spending to meet the ‘needs of the many’. For just this week, left Democrats in the US Congress, led by the rising star Alexandria Ocasio-Cortez (AOC), a member of Democratic Socialists of America, launched what they call the Green New Deal (GND), an alternative programme for a future US government to adopt...

To reiterate, we didn’t need people’s money to fund the war effort. And in case you don’t believe me, take the word of someone who was there. Beardsley Ruml, Chair of the Federal Reserve Bank of New York, published a piece in American Affairs in 1946 entitled “Taxes for Revenue are Obsolete.” Guess what he says! John Harvey might also have pointed out that this how the US government self-funds the military now, and everything else it spends money on, including Social Security. FDR knew...

Serious blunder on the part of Pelosi. The Establishment is showing signs of desperation.The 2016 election should have showed the Democratic establishment that poking progressives in the eye was fatal. The 2018 election should have demonstrated the growing power and influence of progressives. The demographic projections should inform the "centrists" that the future of the Democratic Party belongs to the left as the youth rising in numbers and influence come to power.But losers will be...

Essentially, Ocasio-Cortez is continuing to argue for Modern Monetary Theory — something she said "absolutely" needs to be "a larger part of our conversation" in a recent Business Insider interview. The theory says that because governments can literally print money, "they can spend as much as they like," Politico explains. "Inflation is the only obstacle" that should stop the presses, The Week details here. In short, it's a big, untested idea for a big, untested plan. Read more two...

The talking is over. A legislative proposal is being prepared and will be put on the table "next week." Politically, the big news is demographics. The millennial generation is now the most populous and the boomers are beginning to die off. Young politicians are staking their claims to the future — AOC and Tulsi Gabbard, for example. How successful they will be how quickly is uncertain. What is certain is that they are going to be around for a long while and they will be joined by...

Here’s the good news: Anything that is technically feasible is financially affordable. And it won’t be a drag on the economy ― unlike the climate crisis itself, which will cause tens of billions of dollars worth of damage to American homes, communities and infrastructure each year. A Green New Deal will actually help the economy by stimulating productivity, job growth and consumer spending, as government spending has often done. (You don’t have to go back to the original New Deal for...