Warren Mosler is right

This blogger has doubts:

I really do want to believe that MMT is right and the Mosler is an oracle, but like I said it seems too good to be true – and when things seem to be too good to be true they usually are.

I hesitated for the same reason. I saw him present at the Fiscal Sustainability Teach in Counter Conference. He was very clear that just printing money could lead to inflation. The key is unused productive capacity, and with unemployment soaring to 9% we are over taxed and in desperate need of a fiscal stimulous.

You can download his book for free here. Or just read his blog and ask questions, he responds to his email.

edit –

RALPHONOMICS

Warren Mosler has been trying to spell out the solution for a long time now. Namely a payroll tax reduction: that feeds stimulus direct into household pockets.

But the political and Wall Street elite would hate to see money flowing into peasants’ pockets. The former want it flowing into their own pockets. That wouldn’t matter too much if they actually spent it on something: butlers, chamber-maids, servants, yachts, you name it.

But they don’t: they use the money boost stock market prices or take the money out of the US altogether in search of better returns around the globe.

Perhaps the elite will finally be happy when the peasants are chopped up into little pieces and turned into dog food.

The elite would do well to listen to Mosler and the MMT people, otherwise it is the peasants who might do the chopping.

 

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