When poor countries fall prey to inflation, it’s not because they’re “too socialist.” The rising popularity of modern monetary theory (MMT) has inevitably brought misconceptions.
Steven Hail explains the basics of Modern Monetary Theory using the Australian government as an example.
Sloan strives for one more scare tactic. MMT will cause the United States to lose its reserve currency status and all the foreign bondholders will dump their treasury securities. This may sound scary to the average reader but those versed in bond markets will immediately see through the farce.
The purpose of this white paper is to publicly present the fundamentals of MMT.
The Automatic BOOST to Communities (ABC) Act, introduced by Congresswoman Rashida Tlaib with the support of Congresswoman Jayapal as well as economist and lawyer, Professor Rohan Grey, is how we could save the American people and the small businesses we depend on from perfectly preventable ruin at the hands of this pandemic. To grasp the …
The American fossil fuel industry is a sinking ship, and its workers need to ask themselves what will come next. The industry was already deeply in debt even before the Covid-19 crisis, and the current drop in crude prices will lead to a wave of firms claiming bankruptcy. This drastic reduction of fossil fuel prices …
The Green New Deal Will Save Fossil Fuel Workers & Their Communities Read More »
In this article in The Atlantic, Derek Thompson lays out a plan on how we can prevent a Great Depression for 2020. He writes about the legislation already passed and then puts together a new plan to cover those areas not covered by the CARES and HEROES acts:
HR6407 is a purposefully horrible law and a gross miscarriage of justice that continues to this day. No other government agency at any level nor any federal contractor or private company has been mandated by law to fund retirement accounts 75 years into the future. The damage done to one of our national treasures by this law continue
Capitalism’s most fundamental rule is: if workers have no money then business has no customers. Today, with our economy at a practical standstill and federal politicians more interested in serving their donors rather than the people, this is more true than ever before. This sad reality is slammed into all our faces as we waddle through this Covid-19 pandemic.