Search Results for: inflation

The Great Austerity Swindle!

By Joe Firestone Our Congresspeople, corporate CEOs, tea partiers, most economists, Pete Peterson’s minions, and even our President, tell us that we’re running out of money; and that if we can’t keep running huge deficits, and increasing our national debt … Continue reading

Understanding the Permanent Floor—An Important Inconsistency in Neoclassical Monetary Economics

By Scott Fullwiler I’ve written numerous times already about how a deficit “financed” by bonds vs. “money” doesn’t matter in terms of inflationary effect.  Notwithstanding my views there (which are not discussed in this post), the point of this post … Continue reading

The Most Embarrassing Financial Column of 2013

By William K. Black We are only two weeks in to 2013 and there is plenty of time for far more embarrassing financial columns to be written, but The Guardian’s financial editor, Heidi Moore, has opened up an early lead … Continue reading

The Quadrillion Dollar Thought Experiment

By Dan Kervick Imagine this:  In a burst of manic, public-spirited zeal and budgetary enthusiasm, the US Congress passes, and the President signs, the following law.  (Lawyers, forgive my poor mastery of legalese and feel free to translate the sense … Continue reading

Ezra Klein Chooses Fear Mongering the Big Coin, I Choose Ending Austerity!

By Joe Firestone (H/t to Lambert Strether for the title!) Here’s a commentary on Ezra Klein’s recent diatribe against Platinum Coin Seigniorage (PCS). But there’s nothing benign about the platinum coin. It is a breakdown in the American system of governance, … Continue reading

Krugman and Obama’s Dangerous Austerity Myths

By William K. Black Austerity in response to the Great Recession has proven to be an economic weapon of mass destruction.  On January 10, 2013, Paul Krugman (Nobel Laureate in Economics) and President Obama launched the same dangerous austerity myth … Continue reading

Wake Up Progressives: the Trillion Dollar Coin Can Be Game-Changing!

By Joe Firestone Well, not really. But if you view the Trillion Dollar Coin (TDC) meme, as I do, as a short-hand for the more general idea of using Platinum Coin Seigniorage (PCS), then yes, it can change the whole … Continue reading

Sovereign Spending and Public Goods

By J. D. Alt Based on my new understanding of Fiat Money, I’ve concluded that it is both logical and desirable for the U.S. sovereign government to issue and spend MORE dollars than it collects back in taxes. Doing so … Continue reading

The Small Ball Trillion Dollar Coin Seigniorage Exception

By Joe Firestone The exception to the general pattern focusing on the Trillion Dollar Coin (TDC) as the solution to the debt ceiling problem I outlined and critiqued in my last post, is in Joe Wiesenthal ‘s posts here and  here. … Continue reading

Wake Up Progressives: The Bad Guys Are Trying To Steal the Trillion Dollar Coin to Save the Financial Status Quo!

By Joe Firestone Among the many posts on the Trillion Dollar Coin (TDC) and Platinum Coin Seigniorage (PCS) we’re seeing this week, is a category of posts favoring using PCS in a limited way to avoid the debt ceiling crisis, rather than … Continue reading