If You Can Deliberately Restrain Federal Spending, You Can Deliberately Expand It

Anti-austerity is a word, of which, culturally and socially speaking, perhaps the Spartans wouldn’t have approved of. We can accept that. It was a Laconian thing. We wouldn’t understand anyway. However, it is also a word, economically-speaking, that many orthodox economists and politicians understand but outright refuse to accept. It’s a neoliberal thing. We cannot[…]

Osborne’s Call Not to Change Course On Austerity is a Murderous Demand

The following is from a recent BBC article, the link for which can be found here: http://www.bbc.co.uk/news/uk-politics-40265875 “Former chancellor George Osborne has urged the government not to change its economic strategy after being left without a Commons majority. Mr Osborne’s newspaper editorial said a so-called “end to austerity” would lead to a ‘loss of economic[…]

Labour Should Not Fall For The Tory-Led ‘Costing’ Trick – Here’s Why

This Tory-led ‘costing’ theme currently running rampant throughout the UK is pure political nonsense, the lot of it. Costing has absolutely nothing to do with anything when it comes to the UK. The UK Government is monetarily sovereign. It has the exclusive, monopoly authority to issue British pounds. Pounds come from nowhere else. When the[…]

It’s Always a Good Time to ‘Blow Up’ the Deficit; Just Not How The Republican Party ‘Blows Up’ The Deficit

Since we had some technical difficulties last night – apparently, the Russians hacked us – we didn’t have time to address one of the main points to understanding deficit spending: You need a target for it to be immediately effective. So, let us address this topic presently. We recall from last night’s discussion on Real[…]

Bits of Reality

The following is a summary of my posts for 14.02.2017. Feel free to use them to get the word out. On Where Dollars Come From: “Dollars are not a rare commodity created by the Earth, the universe or even God. Dollars are man-made monetary instruments. They are just a ‘money thing’ which the issuer places[…]

Introductory Series: The Monetary System – US Currency Part 3

Morning everyone. We will continue where we left off with a look at budget deficits, surpluses and the national debt. Previously, we’ve discussed US Dollars, what they are, where they come from, how they enter and leave the US economy, and US paper currency. In case you’ve been linked to this particular article, here is[…]