The scale of this crisis is unprecedented. The downturn in economic activity in April was 20.4% according to the Office for National Statistics: Of course
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It would be quite easy to give up. But I’m damned if I’m going to.
I admit that I have found the last week difficult, and I have no doubt that this has been reflected in the blogs that I
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Mythbuster: modern monetary theory
Myth Modern monetary theory is just a bunch of lefty economists saying that we can borrow without limit and that tax does not matter because
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The scale of the economic crisis about to hit us is almost unimaginable
The FT has an article this morning that suggests that there will be at least 5 million people unemployed in the UK once the furlough
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The Deficit Myth by Stephanie Kelton
Stephanie Kelton’s new books is only a day or so from publication now: As Waterstones says of it: The leading thinker and most visible public
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Niall Fergusson misrepresented the truth about US Federal borrowing on Channel 4 last night
Stephanie Kelton was on Channel 4 News last night. I recommend watching. She is, undoubtedly, the best exponent of modern monetary theory that there is.
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The European Central Bank intends to cover the EU’s deficits with new QE: there will be no increase in net government borrowing in Europe
As the FT noted yesterday: The European Central Bank has added an extra €600bn to the bond-buying programme that it launched to support the eurozone’s
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The Basics of Modern Money
Thank goodness for the government’s ability to create money
I have just put out the following Twitter thread to address some of the nonsense being said about inflation risk today, and other comments that
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Richard Murphy
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