What a tangled web we weave when first government accounting practices to deceive….

This was a good Zoom meeting: ‘The Austerity Doctrine in the Time of Coronavirus’ here (about an hour), with Yanis Varousakis, Naomi Klein, Brian Eno and Stephanie Kelton, which is quite a line-up. For me Yanis Varousakis was the most on the ball in his assertion that the ‘nightmare of the powerful is that the… Read more

‘Better things aren’t possible’

I enjoyed this – old as it is, which I’ve just encountered: It set me thinking that really the journey to understand money is also a journey to show that better things are possible and especially with today’s narrow thinking, also affordable, when ‘affordability’ is so often used to shut down further discussion. Understanding money… Read more

Spectator goes anti-austerity and full MMT

There is an article from this week’s Spectator by Malcolm Offord,who is the founder and chairman of Badenoch & Co (an investment company). He is standing on the Lothian list for the Conservative Party in May’s Scottish Parliament election. The article also appears under the right-wing think tank, Policy Exchange banner, where the title ‘Why… Read more

Bankers’ currency and Conservative deceptions

I enjoyed Jim Osborne‘s comment mentioning what he called “bankers’ currency”. Clearly bankers’ currency is what all currency now is. The only ‘recent’ example of currency that was not (but was in fact the Treasury’s rather than the bankers’) is the short-lived Bradbury’s. It showed that we do not actually need the bankers to produce… Read more

Financial freedom seems to be feudalsim in different clothes

Money as Felix Martin has suggested, seems to give you both freedom and stability. He wonders whether this proposition is possible? After all it used not to be: Barons were for life and inherited that life – and feudal peasants the same. Today’s ‘freedom’ was unknown. Of course today’s freedom includes the freedom to be… Read more

BBC’s continuing learning curve…

This is an item from the twitter feed of Andy Verity, BBC Economics correspondent, about housing and how he thinks the market is overheating: Andy Verity@andyverity·31mThe official forecaster the Office for Budget Responsibility has warned about the effect on government finances of a rise in interest rates. Never mind them (they can always ‘print’ money… Read more

Hyperinflation – an attempt to buy yourself out of a previous currency collapse

I stumbled across this lovely explanation of the ‘hyperinflation’ – in this case in Zimbabwe. The article by outlining the years of disasters that led up to it, shows clearly that hyperinflation is not ’caused’ by printing money. It concludes: “Hyperinflation” is a kindergarten concept of currency collapse. Calling a currency collapse “hyperinflation” is like… Read more