Notes for Book on MMT


Personal

Updated Mar 12th, 2021

Edgar Database Is this the best free way to get company financial info?

Employment and inflation. Fred keeps unemployment low proactively to fight inflation.

Is economics cool to keep mindset right

Fuck the up an MD down of the markets. Build a better future instead.

Pull people out of the mindset gutter. Social media, reality tv, consumerism, material goods. Instead for education productivity focus on building a better tomorrow .

chapter 2 inflation: excellent. Had no idea about nairu

QTM Quantity Theory of Money: More money equals inflation. inflation is everywhere.

Chapter 3. Japan practices yield curve control, (pinning 10 year rate to zero in addition to just short term rates), and this has essentially retired 50% of all government debt, which was 240% to GDP. And could pay it off tomorrow with no side effects?

How is paid off by central bank the same as retiring debt?

Debt monetization is another term for the central bank paying off debt / retiring debt? From Wikipedia: Monetizing debt is thus a two-step process where the government issues debt (Government bonds) to cover its spending and the central bank purchases the debt from secondary markets and perpetually rolls it over, leaving the system with an increased supply of money.

The central bank cancels the debt by buying the bonds but it just increased the money supply. Any problems here? The quantity theory of money (Friedman) says this is inflationary.

Here is a good chart on central bank balance sheets. What is the downside to exploding central bank balance sheets?


Top