Back in February 2021, I sat down with Ron Biscardi, the CEO of iConnections to talk MMT, the incoming Biden administration’s policies, capacity constraints, the problem with relying on interest rates to fight inflation, and more.
It seems, unfortunately, that the Biden administration are … ahem… ‘unable’ to use policies like negotiating lower drug prices or making sure *everyone* can benefit from free child care to offset inflation on other things and rising cost of Gas. When I say “unable” I find it hard to believe that the administration is not using the corporate Democrats (most notably Manchin & Sinema) as cover for their own lack of enthusiasm for more progressive policies. They didn’t really try hard at all to get them in the final version of the BBB Bill which says it all really. So, the intransigence of said Senators did Biden & the leadership a favour. Their past record tells us as much and it also says a lot that the second most costly item in the bill is the SALT Tax provisions, but nobody is wringing their hands over whether that’s “paid for” or not.
It’s a massive, intentional, missed opportunity. The voters (or rather *non* voters) will punish the Dems in the Mid Terms and 2024.
Dr. Kelton, how does the EEU (Euroland) increase it’s money supply? It is not as apparent as the MMT explanation of the US primary source and method of increasing the primary money supply.
The EU has its own “money printing” bank : The European Central Bank, which operates in the same way as the Fed in the US and The Bank of England in the U.K.
It seems, unfortunately, that the Biden administration are … ahem… ‘unable’ to use policies like negotiating lower drug prices or making sure *everyone* can benefit from free child care to offset inflation on other things and rising cost of Gas. When I say “unable” I find it hard to believe that the administration is not using the corporate Democrats (most notably Manchin & Sinema) as cover for their own lack of enthusiasm for more progressive policies. They didn’t really try hard at all to get them in the final version of the BBB Bill which says it all really. So, the intransigence of said Senators did Biden & the leadership a favour. Their past record tells us as much and it also says a lot that the second most costly item in the bill is the SALT Tax provisions, but nobody is wringing their hands over whether that’s “paid for” or not.
It’s a massive, intentional, missed opportunity. The voters (or rather *non* voters) will punish the Dems in the Mid Terms and 2024.
Very interesting exposé.
Dr. Kelton, how does the EEU (Euroland) increase it’s money supply? It is not as apparent as the MMT explanation of the US primary source and method of increasing the primary money supply.
The EU has its own “money printing” bank : The European Central Bank, which operates in the same way as the Fed in the US and The Bank of England in the U.K.