Fix the Debt – One Group’s Efforts to Cause an Economic Depression

Derp: (noun): Foolishness or stupidity. In the profession of economics, there’s a lot of derp. I mean, a lot of it. In fact, when it comes to economics, derp is everywhere. On TV, derp is there: from Fox Derp, Bloomderp, CNBDerp and Derp Dynasty, to MNSBDerp and Derp Maddow. Newspapers too, like The New York[…]

Junk Economics: A Brief Look at Mainstream Mysticism

Today’s article is a continuation of my last concerning the mainstream’s zero lower bound and loanable funds fantasies with a look at fiscal rules and other shenanigans. Fig. 1: A Mainstream Economist Coupled with the debunked Loanable Funds Theory is the mainstream assumption that the national government experiences a hard financial constraint and must fund its[…]

Australia – A Continent That’s Adrift but Salvageable

There’s a whole lot of stupid coming from the Australian government these days. This particular type of stupid isn’t your average stupid. It’s a maximum strength stupid that is produced when your average, run-of-the-mill stupid is no longer stupid enough to meet the needs of the Australian Treasurer. It is a sort of supernatural stupid.[…]

Public Purpose Spending is Not Socialism – It’s the Job of the Federal Government

There is an immense problem with the term “socialism”, especially in the United States, where the word is abused endlessly by right-wing politicians, “free market” enthusiasts and now, even liberals have joined the red-baiting bandwagon, labeling former Sanders supporters, many of whom are now Stein supporters as “socialists” and any proposed economic initiatives as “socialism”.[…]

A Few Words Concerning the Ubiquitous Term, “Printing Money”

For one reason or another, which to this day baffles me, some of my colleagues have allowed the term “printing money” to go unchallenged. Because so many abuse and misuse the term when referring to how the federal government spends, it’s as if some are quite content to just let orthodoxy have its way and[…]