MMP Blog #19 Responses
Comments and responses on the Modern Money Primer Part 19.
Let us now begin to examine in more detail the government’s budget and impacts on the nongovernment sector.
Our next topic: government spending, taxing, interest rate setting, and bond issue. We will examine fiscal and monetary policy formation by a government that issues its own currency.
I had thought the distinction between real and financial (nominal) was clear—but obviously it was not.
The fundamental point to be made here is that the Euro arrangement was flawed from the beginning.