SCOTT PELLEY: Is that tax money that the Fed is spending? BEN BERNANKE: It’s not tax money. the banks have — accounts with the Fed, much the same way that you have an account in a commercial bank. So, to lend to a bank, we simply use the computer to mark up the size of the account that they have with the Fed. So it’s … Continue reading The Revolutionary Potential of Modern Money Theory
Reagan proved deficits don’t matter. Dick Cheney Who the hell cares about the budget? We’re going to have a country. Donald Trump In Part 1, we looked at UBI as the new primary purpose of government, the only way out of the immediate predicaments of underemployment, collapsing labor value, and the political explosiveness generated by the resulting economic deprivation. Then in Part 2, we explored … Continue reading Last Chance Moonshot – Part 3: Modern Money Theory
As we come down the home stretch of the shitshow that is the 2024 Presidential election, it has become clear that our problem is not just Trump, or his legion of followers, or even the entire American political system, which has tipped over completely into plutocratic servitude. What is really crippling us is a dysfunctional set of ideas, a system of zombie ideas so entrenched … Continue reading Hard to Kill: Zombie Ideas That Need Slaying
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