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.
Austerity
Yanis Varoufakis: Greece was never bailed out – it remains a debtor’s prison and the EU won’t let go of the keys
It is odd that the EU still is trying to maintain its lie of “We saved Greece”. How can the EU lead Europe when it has lost all moral authority? Read here
Corruption
The Guardian: Iceland PM sold bank assets hours before financial crash, leaks show
The current prime minister of Iceland sold over a million Euros in assets in the Glitnir bank just hours before the the state took control of the collapsing bank in 2008 Read here
Economics
Shaun Richards: Borrowing for the energy crisis has become much more expensive for Euro area governments
Bloomberg has taken a look at what the energy crisis has cost so far and the numbers are not pretty. Europe got hit by roughly $1 trillion from surging energy costs in the fallout of […]
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