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.
Economics
South China Morning Post: Nowhere to hide for Chinese developers as slump deepens amid cash crunch, debt defaults despite easing measures
Home sales fell 25.6 per cent last quarter as concerns about credit squeeze, debt defaults sidelined buyers Local authorities in more than 60 municipalities have taken steps to unshackle the market from rules hobbling the […]
Economics
DeStatis – Germany: Production in February 2023: -1.6% on previous year
While corporate media implies all is well with the EU’s largest economy, government statistics tell another story. Read HERE
Economics
CNBC: U.S. GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit
Gross domestic product in the U.S. declined at a 1.4% pace in the first quarter, below analyst expectations of a 1% gain. Declines in fixed investment, defense spending and the record trade imbalance weighed on […]
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