Spending flows have slowed considerably. A correction is coming. 

[unable to retrieve full-text content]Ep. 232 Michael Hudson. Transcript Ep 232 Macro N Cheese – Hudson   https://realprogressives.org/podcast_episode/episode-232-is-the-us-a-failed-state-with-michael-hudson/ Michael Hudson [Intro/Music]: America cannot re-industrialize without reversing this whole philosophy of post-industrial society as a class war against labor. You can’t have both. You can’t have a class war against labor and reindustrialization with the labor...

June housing report: a tale a two diametrically opposed sectors  – by New Deal democrat Yesterday I wrote that housing under construction, along with new vehicle sales, were two important reasons that no economic downturn had occurred yet. Today’s report on housing construction for June showed two almost diametrically opposed trends: single family houses had a sharp increase in permits and starts, while units under construction made a 12 month...

June housing report: a tale a two diametrically opposed sectors  – by New Deal democrat Yesterday I wrote that housing under construction, along with new vehicle sales, were two important reasons that no economic downturn had occurred yet. Today’s report on housing construction for June showed two almost diametrically opposed trends: single family houses had a sharp increase in permits and starts, while units under construction made a 12 month...

from Lars Syll Using ‘simplifying’ tractability or ‘heuristic’ assumptions — rational expectations, common knowledge, representative agents, linearity, additivity, ergodicity, etc — because otherwise they cannot ‘manipulate’ their models or come up with ‘rigorous ‘ and ‘precise’ predictions and explanations, does not exempt economists from having to justify their modelling choices. Being able to ‘manipulate’ things in models cannot per se be enough to warrant a methodological choice. If...

While the details of the post are specific to Australia, the MMT point is general, namely, that raising the price of "money" by increasing the interest rate adds an increased inflationary bias to already increasing inflation as the price increase of "money" is passed on to goods and services owing to increased costs and also monopoly power.The thinking behind this is apparently that increasing the price of "money" makes not only goods and services more costly but also the cost of borrowing...

In a recent meeting in Cape Town, South Africa, the foreign ministers of the BRICS countries, along with representatives from more than twelve nations, emphasized their intention to establish an international trading currency.Sounds more like an international payments system rather than a currency for public use. Some details are given but so far it is nebulous other than the joint commitment to do it.Covert GeopoliticsRussia Confirms BRICS Will Create A Gold-Backed Currency

Federal Revenue: Where Does the Money Come From, (nationalpriorities.org) This is a rather well explained documentation of US revenues, where it comes from and where does it go. This and my earlier commentary is to explain what is going on so we have a better idea of how to discuss this. The US budget . . . Where Does the Money Come From Taxes are by far the largest source of income (or revenue) for the federal government. The government...

Federal Revenue: Where Does the Money Come From, (nationalpriorities.org) This is a rather well explained documentation of US revenues, where it comes from and where does it go. This and my earlier commentary is to explain what is going on so we have a better idea of how to discuss this. The US budget . . . Where Does the Money Come From Taxes are by far the largest source of income (or revenue) for the federal government. The government...

Federal Budget, Why Should you Care About the Federal Budget, (nationalpriorities.org) It appears, we need to better understand what we are talking about. Or at least establish a foundation for our words which I believe we take for granted. I took the liberty of pulling this up from a site. It is pretty basic. Borrowing and the Federal Debt In any given year, if federal revenues and government spending are equal – as in, the government takes...