This pandemic has been massive amounts spent by governments, and a chunk of that government debt is being bought by central banks. But with central banks buying up government bonds, whilst maintaining low interest rates, who is really benefiting? The answer, of course, is the wealthy. This week Steve Keen explains why the current situation is widening inequality, with the central banks at the front and centre of tis change. But government policy is helping too, in the wrong direction. So, is there any way out of this. Or has COVID-19 simply amplified a trend that was already upon us?
The MMT Podcast – Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask
MMT economist Steven Hail helps understand the intricacies of a modern money banking system as they discuss the interplay of government spending, private sector transactions, reserve and bond accounts at the central bank and how […]
An interview with the Positive Penger Group. Jussi: So welcome all and welcome Michael. Good to have you here again. How are you? Hudson: It’s good to be back. Jussi: Our pleasure as usual. Let […]
In this enlightening video Yanis Varoufakis provides a detailed analysis of the ongoing humanitarian crisis in Gaza and the broader situation in Palestine. Varoufakis details the on-going genocide in Gaza, combined with Israel’s actions in […]