Tag Archives: Kelton

The deficit as of August 15, was $931 bln. That's the highest in 7 years. And as a percentage of GDP it's now at 4.4%, the highest in 6 years. So why are all the prominent MMTers silent about this?Nothing from Kelton. Mosler continues to put out bearish forecasts. (Going on 5 years now!)They only talk about deficits when it's convenient for them?They say they're not political, but it seems to me that not mentioning the deficit is a way of not giving credit to Trump, even...

Might not be MMT, but it isn't Socialism So there has been a lot written on Modern Money Theory lately. There is this piece by The Economist, Jerry Epstein's paper, and Lance Taylor's one, more on the Democratic Socialist ideas than MMT per se (here). There was also this op-ed by Robert Shiller in the NYTimes, and the two posts by Tom Palley, that I reposted here on the blog. Finally, Christine Lagarde also commented on MMT during the World Bank/IMF Spring Meetings.I can and I will not...

Modern Monetary Theory (MMT) has been in the news again, and for good reasons. I actually had a post with the same title back in February of 2012, hence the again in the title. But now, with the irruption of Alexandria Ocasio-Cortez in the political scene ,and with the discussion of a Green New Deal (discussed here 7 years ago) and the feasibility of higher taxes (here, also long ago, among the many on the topic) taking the center of the political debate, MMT has become trendy. The rise...

A giant end-of-month spending spree in August has ballooned the Federal defiicit to $980 bln and 4.8% of GDP.This is the largest nominal deficit since 2009 and the largest as a percentage of GDP since 2012.The MMT gods should be cheering this. They're not. Weird.