The US Government (and it's budget) is NOT like a household or a corporation. Anybody who uses this time-worn analogy is simply not telling the truth and is likely either ignorant or is trying to pull the wool over your eyes. Randy Wray explains the many reasons. You (your household) must finance your spending (either … Continue reading The US Government is NOT like a Household
Day: March 22, 2010
More on Modern Banking – end of fractional reserves
More on MMT & end of fractional reserve banking: From Naked Capitalism and Washington's Blog. There's more in the entire post to see, but this is a critical part (bold is mine): ... From Fractional to Fictional Reserves But whatever you think about fractional reserve banking, whether or not you agree with its critics, the … Continue reading More on Modern Banking – end of fractional reserves
EconProph 