Recently, the neglected question of why the US government borrows, given that it can print money, has arisen in the context of discussions surrounding a new documentary, Finding the Money. As L. Randall Wray observes in this one-pager, Modern Money Theory has been providing answers to this question for some time; and, he argues, it is a topic that mainstream economists are ill-equipped to address, since very few concern themselves with the monetary operations that underlie the question of why a currency-issuing government issues debt.
Geopolitics
Anatol Lieven – The Mask of Imperialism
Liberal internationalism died in the ruins of Gaza and Beirut. Donald Trump’s return to office has only put a tin plate on the coffin. The doctrine lost all legitimacy through its dependence on American global […]
Economics
DeStatis: German recession setting in: Retail turnover in October 2022 decreased by 5% year on year
Retail turnover, October 2022 (provisional, calendar and seasonally adjusted) -2.8% on the previous month (in real terms) -1.7% on the previous month (in nominal terms) -5.0% on the same month a year earlier (in real […]
Geopolitics
Alon Mizrahi – The US and Israel have already lost the war
This is taken from X, but apparently was first posted on Telegramm “We are witnessing history. Iran, to everyone’s surprise, is destroying American bases so thoroughly, on such a large scale, and so decisively that […]
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