- 13 Apr 2021 07:19
#15166344
The cat is progressively getting out of the bag – Part 1 & 2.
Part 1. . http://bilbo.economicoutlook.net/blog/? ... ment-71715
Part 2. . http://bilbo.economicoutlook.net/blog/?p=47257
In Part 2 the MMTer Prof. Mitchell wrote, "In relation to the helicopter money question, Charles Goodhart, a banking academic and former Bank of England Monetary Policy Committee member, then added:"
Charles Goodhart testified, "Under the Biden stimulus programme, every family will be sent a cheque for $1,400. If that is not helicopter money, I do not know what is.
"The Fed is now arguing that it will not raise interest rates effectively until it sees inflation occurring. If that is not modern monetary theory, I do not know what is.
"We are in a very weird world where we are actually undertaking helicopter money; we are following exactly the precepts of modern monetary theory, otherwise known as the magic money tree; and at the same time we are claiming that we are not doing it. We are doing what we claim we are not doing. I find this situation absolutely weird."
OTOH, I see this BS fear mongering. All the examples given involved a supply shortage and not JUST exces deficit spending.
Economics Explained says Hyperinflation is Already Here – You Just Haven't Realised It Yet.
Part 1. . http://bilbo.economicoutlook.net/blog/? ... ment-71715
Part 2. . http://bilbo.economicoutlook.net/blog/?p=47257
In Part 2 the MMTer Prof. Mitchell wrote, "In relation to the helicopter money question, Charles Goodhart, a banking academic and former Bank of England Monetary Policy Committee member, then added:"
Charles Goodhart testified, "Under the Biden stimulus programme, every family will be sent a cheque for $1,400. If that is not helicopter money, I do not know what is.
"The Fed is now arguing that it will not raise interest rates effectively until it sees inflation occurring. If that is not modern monetary theory, I do not know what is.
"We are in a very weird world where we are actually undertaking helicopter money; we are following exactly the precepts of modern monetary theory, otherwise known as the magic money tree; and at the same time we are claiming that we are not doing it. We are doing what we claim we are not doing. I find this situation absolutely weird."
OTOH, I see this BS fear mongering. All the examples given involved a supply shortage and not JUST exces deficit spending.
Economics Explained says Hyperinflation is Already Here – You Just Haven't Realised It Yet.