Central Bank direct purchases of Treasury Bonds are banned by law in most countries. But they're not banned by the accounting. If they did happen, guess who would suffer the most?

Legislative laws--rather than the laws of double-entry bookkeeping--require Central Banks to buy Treasury Bonds from the private banks in Open Market Operations, rather than directly from the Treasury. This video explains this process.

Mainstream economists believe--without having done the double-entry bookkeeping--that Treasury bond sales amount to the government borrowing from the private sector. Checking the double-entry bookkeeping gives an entirely different answer.

xxx A panel about Maria da Conceição Tavares with talks by three of her disciples and students, Ricardo Bielschowsky, Carlos Medeiros and Franklin Serrano.

Using Ravel, it's easy to show that the basic argument of MMT--that government spending in excess of taxation creates money--is correct. Ravel is available from https://www.patreon.com/ravelationfor $7 per month; Minsky is available from the same site for $1 per month.

Ravel is a brand new, intuitive way to analyse data. It is built on top of the Open-Source system dynamics program Minsky, which is the only program in existence that is designed to model financial flows using double-entry bookkeeping. I explain that fundamentals of double-entry bookkeeping in this video. In the next in this series, I put MMT under the crucible of double-entry bookkeeping to see whether it makes sense. Ravel is available from https://www.patreon.com/ravelation for $7 per...

Another take on Housing and Supply of Housing by Skanda Amarnath at the well-known Employ America. This follows or leads what New Deal democrat has been discussing at Angry Bear blog here, here, and here. When we bought into our single-family home, I was able to lock in a 2.6% 30 year mortgage. At this point in time 50% of my mortgage payment goes to principal. The city we live-in is building apartments like they never existed before. The housing...

Tom has it correct. I am not so sure I would want to be associated with the jackasses engaging in ageism. I am not far behind Biden in age. The initial debate was a shocker. A shocker where one person can speak lie after lie in front of millions of people and stand there looking justified in doing so. And those who support him and such behavior are no better. Tom Sullivan at HuLLaBaLoo, July 17, 2024 They’re both old. The Republican is a...

If you have not been watching, Manafort returns to Trump’s side. Forty-seven months in prison was too short for Manafort. And Trump reveals his ways by having him there. Convicted criminals’ side by side. And Democrats are in disarray over Biden or . . . “July 18, 2024,” Walking the floor of the Republican National Convention by Prof. Heather Cox Richardson Letters from and American Paul Manafort walking onto the floor of the...

Global heating continues unabated. While decarbonizing our energy sources is certainly important, it is too late to prevent global disaster. Coastal flooding, desertification, wildfires will continue to increase, driving vulnerable populations to migrate and igniting resource wars for fresh water and arable land. It’s already driving migration and violence in the Middle East and Central America.We must find a way to decarbonize the atmosphere on a...