Daily Archives: December 24, 2012

An MMT Christmas Carol

By Dan Kervick


SCROOGE:  Cratchit!  Cratchit, come here!

CRATCHIT:  Yes Mr. Scrooge?

SCROOGE:  Cratchit, I need you to work until midnight tonight.

CRATCHIT:  Tonight, Mr. Scrooge?    On Christmas Eve?!

SCROOGE:  Yes, indeed, Cratchit.   And you must work every day until New Year’s Day.  I’m sorry about this, Cratchit, but we have very important public business to attend to.

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Kill the “fiscal cliff” instead of the Economy

By William K. Black
(Cross Posted at Benzinga.com)

Everyone now agrees that the so-called “fiscal cliff” is a stupid policy that threatens our economy and our people.  Everyone agrees why the “fiscal cliff” is stupid – it inflicts austerity at a time when it is likely to throw the nation into a gratuitous recession.  Causing a recession leads to increased unemployment and a larger budget deficit.  We have all seen austerity force the Eurozone into a gratuitous recession in which Italy, Spain, and Greece have Great Depression levels of unemployment. Continue reading