Foundational Problems of the Left Part II: Progressives and Errant Views of Inflation

As an addendum to yesterday’s post, before I begin, I’d like to clarify the point that taxes reduce spending power and thus, can reduce the spending power of the rich whilst raising the spending power of the poor. When progressives say, “tax the rich!”, what they’re saying, though they do not know it, is, “destroy[…]

The Foundational Problem of the Left – The Taxation of the Rich Prior to Spending

In furtherance of my series on what’s wrong with the left, today I wish to discuss national taxation and how it relates to the left’s strategy. The fundamental problem is the errant notion that capital is somehow greater than its sovereign, the currency-issuing national government. The left sees the world through the eyes of Eugene[…]

Today’s Reply to George Kendall on Monetary Mechanics in the UK

I’ve tried repetitively to post my reply to Mr. Kendall, but Facebook seems to be having issues with posting in the group. Therefore, for that reason and to further a learning opportunity for the general public, here is my reply to George Kendall. KENDALL: “The following is a response to these two statements: ‘no need[…]

One of My Replies to George Kendall on UK Budget Deficits

George Kendall, Andy Blatchford, Peter Martin and I have been having a pleasant, albeit a bit frustrating discussion. Frustrating because the now defunct Bretton-Woods system always manages to obstruct progress towards an understanding of macroeconomic reality. This morning, George replied to Peter and myself, demonstrating that the Bretton-Woods obstruction is still very much alive and[…]

The Australian Government is Sailing the Neoliberal Waters of Recession

For laypersons unfamiliar with monetary policy, or for those who believe in its “healing powers”, allow me to set the record straight. Today, the RBA is busy trying to stimulate growth in the Australian economy by shifting around dollars that already exist. Monetary policy is a blunt instrument that does not add needed dollars to[…]