Even though we have had a book called The Deficit Myth for years, the myth persists.New WaylandMMT Verify: How We Can Staff the NHS Without Tax RisesNeilW

Another example of hype versus reality.  An alternative payments system based on an alternative currency is just "an aspiration" at this point. The devil, as usual with anything complicated, is in the details. In addition, it won't be a simple matter to get agreement among all the parties. This doesn't mean it will not happen eventually, only that it won't happen in the time frame many are representing and hoping. For now, bilateral trade in the currency of the counterparties is the viable...

PPI too volatile to be a useful indicator of inflation or predictor of CPI.Bond Economics Random PPI ObservationsBrian Romanchuk

from Marcello Spanò and RWER issue 104 Let us now turn to the signals of changes that are emerging with the war in Ukraine. The field of analysis regarding the relation of the war with the breakdown of unipolarism and its transformation into a multipolar world is certainly vast and complex. Here we limit the analysis some relevant aspects connected to the centrality of the dollar in the international monetary system. If we examine the 25-year period prior to 2014, we can...

Universalism vs woke racism You may argue that theory is secondary: of course woke activists seek solidarity, justice, and progress. Their struggles against discrimination are animated by those ideas. But they fail to see that the theories they embrace subvert their own goals. Without universalism there is no argument against racism, merely a bunch of tribes jockeying for power. And if that’s what political history comes to, there’s no way to maintain a...

Abstract The financialization hypothesis (FH) is a popular leitmotiv which argues that the financial system conquers the commanding heights of the capitalist economy. It maintains that finance gained independence from productive-capital and began to dominate it. The FH bases this argument on several empirical claims concerning the size and the strategic role of financial entities. This article offers a critique of crucial analytical and empirical claims of the FH. It argues that the...

[unable to retrieve full-text content]A recent presentation to the Global University of Sustainability. Photo by Jason Leung on Unsplash The post The Financial Upsweep first appeared on Michael Hudson.

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We are again discussing people on Medicaid who may not know they have to reenroll. The largest unknowing segment of that population are those over 65 years of age. This is a combination of several different articles on the Medicaid Disenrollment occurring today. Private business again taking advantage of the lack of knowledge of people and the situation. The Company Salivating Over The Medicaid Disaster (levernews.com), Matthew Cunningham-Cook...

As is usual with trends of all kinds, some recent electoral successes for far-right parties in Europe have been extrapolated into a narrative in which the rise of the far-right is just about unstoppable. That narrative took a blow with the recent Spanish elections in which the far-right Vox party performed poorly and its coalition with the traditional conservative Popular Party failed to secure a majority. Possibly as a result, the leader of the German CDU backed away from a...