PoMo endorses MMT

I have long been critical of Positive Money (PoMo)’s ideas on money (although I am a regular Positive Money member). At last! they seem in favour of ‘Direct Monetary Financing’ (DMF). This, it seems to me, is basic so-called ‘Modern Monetary Theory’ (MMT): a sovereign government alone issues its own money so, if anyone wishes… Read more

Criticism all round – even from your major supporter abroad

When even the Trump administration – and indeed the man himself – ridicules the UK government’s covid-19 policies you are not in a good place… Hers is a good point of course, but it would be better still when we know that the survival rate on a ventilator is roughly 50:50, I understand. Whereas fewer… Read more

Knowing where money comes from is key to keeping healthy…

Unilever has always been a fairly progressive company – although there are certainly arguments about its products and advertising strategy so I was interested to see this piece in this week’s ‘Sunday Times’: Giving hand sanitiser to the NHS is all fine and dandy but I strongly suspect Jope has no idea that this does… Read more

The Magic Money Tree used for the advantage of banks – again

These are key quotes from the British Business Bank, the bank designed to keep business running till the Coronavirus crisis passes: Coronavirus Business Interruption Loan Scheme gives the lender a government-backed guarantee for the loan repayments to encourage more lending. The borrower remains fully liable for the debt. The Big Four banks have agreed that… Read more