Sectoral Financial Balances for the UK as a % of GDP, smoothed over a year
For every Printing Press, there is a Shredding Machine. You can’t have one without the other.
The number of people in the UK without work that want it
There is far more inflationary pressure from government spending that causes an increase in taxes than from deficit spending
We’ve had mostly floating exchange rates for fifty years. You’d think by now people would report using the correct currency
Two titans of UK politics face off over government interest payments, while completely missing the obvious answer: stop giving rich people free money
Spending only happens if there was something to buy. If that spending is then deficit spending it has a lower inflationary impact than spending that is tax-matched.
Time for another exercise in mythbusting. It turns out it is very difficult for something that cannot move to fly. Who knew?
There is no risk that interest rates on UK government debt will reach crippling levels. Interest rates are policy variables. Paying interest is a political choice. Betteridge’s law of headlines applies.
Bill Mitchell explains how MMT sees the effect of Interest Rate changes on the economy