UK Borrowed Foreign Currency from the IMF in 1976

The much vaunted IMF crisis in the UK was because the government violated an MMT golden rule: government must not borrow in a foreign currency

29 Jan 2021 09:50 +0000 · 2 min · NeilW

Planning for Tax Rises

Everybody wants to see tax rises, except the British economy. How can we do both?

28 Jan 2021 06:58 +0000 · 2 min · NeilW

It's Just Debits and Credits

When using bookkeeping tools to do stock/flow analysis, it’s important to remember that we are just doing debits and credits and summing them up into stocks of debits and credits. We are using the tools of journals and balance sheets to do economic analysis.

2 Jan 2021 14:00 +0000 · 7 min · NeilW

The Perpetual Problem With Interest Rates

How can you be worried about interest rises when you’re issuing fixed interest rate securities? Isn’t that sort of the point of fixing the interest rate?

28 Dec 2020 14:54 +0000 · 3 min · NeilW

Anatomy of an FX Transaction

How exactly does an FX transaction works in a floating currency rate environment? Read on to find out

27 Dec 2020 07:26 +0000 · 5 min · NeilW

How Money is Created in the UK

Money is created in the UK by order of HM Treasury. Here’s how it works

26 Dec 2020 09:00 +0000 · 5 min · NeilW

It's the Exporters Stupid

Running an external surplus requires exporters to export. The right to export more than you import has a price. What does that mean on the other side of the trade?

25 Nov 2020 04:07 +0000 · 4 min · NeilW

Resources Are People Too

The Resources you are looking for are in the Unemployment Queue

20 Nov 2020 17:04 +0000 · 2 min · NeilW

Why Banks Pay Interest on Deposits

How the central bank setting interest rates above zero forces banks to pay interest on deposits

8 Nov 2020 03:41 +0000 · 2 min · NeilW

Victory to MMT

Another neoliberal throws in the towel in the face of unassailable facts and logic

7 Nov 2020 06:26 +0000 · 3 min · NeilW