Warren Mosler joins us to discuss inflation, Medicare for all, and a Wall Street Journal article about Modern Monetary Theory (MMT).
- “Modern Monetary Theory Isn’t the Future. It’s Here Now.” https://www.wsj.com/articles/modern-monetary-theory-isnt-the-future-its-here-now-11637446538
- Warren Mosler’s website Mosler Economics http://moslereconomics.com/
- Warren Mosler’s Twitter https://twitter.com/wbmosler
- “Inflation is up 6.8% over the past year, the largest rate increase since 1982. Here’s what that means” https://fortune.com/2021/12/10/inflation-largest-increase-since-1980s/
- CPI 2017-2021 https://fred.stlouisfed.org/graph/fredgraph.png?g=JZKS
- Oil futures go negative in April 2020 https://i.insider.com/5e9dfd7c4bca630f615b7b96?width=1667
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Prices may also reflect added costs for many things: due to pandemic measures taken by corporations and retailers, costs to ramp up refining and delivery of fossil fuels, delays in the supply chain with ships unable to dock in ports with goods, etc.
Pay Fors is an a example of weaponizing debt and deficit for partisan purposes. In Canada a politician whinged about the debt broken down per person to $31,250. My response was that I was pleased because that means that I might have an asset in that amount somewhere. My speculation is that at least some of that was in the pensions funds.
It is true, the public “debt” is the private sector’s net saving to the penny pretty much.