By now, you’ve heard about the untimely bombshell delivered by Senator Joe Manchin (D-WV) on FOX News Sunday. Manchin’s declaration put a fork in President Biden’s Build Back Better (BBB) agenda. While a handful of progressive lawmakers (and some republicans
So, what is your stand on the current inflation rate and when will it go away?
I'm slightly surprised that you do not address what you consider to be Manchin's motivation for using these excuses to stop the bill. Do you think it is anything other that his greed? His own self interest in dirty energy, and his corruption in satisfying his donor's demands to prevent tax increases on them?
Thanks Stephanie. I do love your sound assessment on JM and hope in 2022. JM’s phony economic fears drive me crazy (of course I blame you for opening my owl eyes) but he always sounds sincere…I wonder if his Maserati goes 185? The Owl Lobotomy of Congress continues to progress too slowly for my taste but my hopes remain as I heard that over a third of Congress now subscribes to MMT! Hope…keep the Faith! Merry Christmas to you and your family.
Stephanie, When you highlighted "mostly dead," I figured you'd be going for the Billy Crystal shtick in "The Princess Bride."
When are Democrats going to get tough and start threatening blue state secession? If the red states would let us go without another Civil War, we should do it (I'm talking about the Northeast and the West Coast). If they can't afford to let us leave, then they have to bring something to the table. Right now it's just one slap in the face after another. Tax cuts for the rich, voter suppression, packing the Supreme Court and, oh, that little thing we call an insurrection. Does anyone else feel abused and stupid, or am I the only one who feels like a chump?
The inflation hawks will only be satisfied when the US suffers the fate of Japan. Stuck in a deflationary/stagnent slump for decades.
So being accountable and living within your means make you a Grinch, interesting analogy!
Stephanie - Taking the time to fully understand MMT has occupied quite a bit of 2021 for me and I am truly blessed with this investment. I am so genuinely curious about why we'd argue so hard against payfors at this point when inflation is the focal point of mmt fiscal philosophy. Is it conviction in inflation forecast returning to normal? (Breakevens give plenty of cover for that). Simply curious at what point you'd hit the pause button with resource utilization so clearly stretched.
It's sad that America is being held hostage by one man. Maybe America should consider that when the next election comes up.
This is totally off subject, but Dr. Kelton could you please direct me to resources, or provide your understanding, of how the European Union (Euroland), a non-sovereign entity, increases its money supply. MMT gives me a clear understanding of how a sovereign entity does so, but I'm perplexed how Euroland does so. Thank you very much for your clarity and leadership in MMT.
Stephanie, In your excellent book, you talked eloquently about inflation being the true signal that new actions are necessary, that deficit spending is inconsequential unless the result is inflation. Okay, we're there. So what policies or actions would you now propose to rein in inflation?
I heard Summers say at the end of last year he supported BBB and that it was anti inflationary. Late term capitalists need to fill their bellies any which way they can, so Semmers may be correct with his statement. If corporations need huge influxes of money for growth it is much more civil and practical to put the money into the hands of people who need it, who will spend it, and fatten the capitalist that way, than to subject the poor and working class to more deprivation and want. Of course my consistent observation is the best solution to the deprivation and inflation problems and a slew of other social and economic problems is to end "wage slavery" and implement a national "living wage."