2023年6月15日木曜日

2023/06/15 The MMT Podcast with Patricia Pino & Christian Reilly: Steven Hail: Bond Vigilantes! Inflation! The National Debt! The Excuseonomics Killing The Planet

 
 
MMT Podcast (Christian Reilly)
⁦‪@MMTpodcast‬⁩
🎙️ Out today! 🎙️

Ep 172: Bond Vigilantes! Inflation! The National Debt! The Excuseonomics Killing The Planet 

We talk to Professor ⁦‪@StevenHailAus‬⁩ about the climate emergency and the excuses selectively employed by policymakers to avoid addressing it:
tinyurl.com/59kwhhy5 pic.twitter.com/lcjT5gOWxg
 
2023/06/15 15:54
 
 

#172 Steven Hail: Bond Vigilantes! Inflation! The National Debt! The Exc... 
2023/06/15
I don't think that the labor party take ecological issues seriously Progressive governments around the world and you may soon have a labor government in the UK are doing the minimum they can get away with they're still taking money from fossil fuel companies we just had a fossil fuels conference that some of my friends protested at and our labor government was so annoyed by that that they've now introduced a law where protesters can be fined fifty thousand dollars or sent to prison for three months we have to get past this idea that governments cannot fund the energy transition or investments in ecological sustainability generally it will need an mmt perspective to bring that about there's still time to do something about it [Music]

労働党がエコロジー問題を真剣に考えているとは思えません。世界中の進歩的な政府、そしてもうすぐイギリスにも労働党政権が誕生するかもしれませんが、彼らは逃げ切れる最低限のことをしています。
 抗議者には5万ドルの罰金か3カ月の禁固刑を科すという法律を導入したのです。
政府はエネルギー転換や生態系の持続可能性への投資に資金を提供することはできない、という考えを捨てなければなりません。それを実現するためには、MMTの視点が必要です。

 
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Steven Hail: Bond Vigilantes! Inflation! The National Debt! The Excuseonomics Killing The Planet
The MMT Podcast with Patricia Pino & Christian Reilly

Patricia & Christian talk to economist and founder of the ground-breaking Modern Money Lab project Professor Steven Hail about the urgency of a swift and just transition to a sustainable economy and examine some of the excuses politicians selectively employ to avoid policymaking as if people and the planet matter.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast     All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our patron-only episodes: https://www.patreon.com/posts/57542767   Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers" (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html   LIVE EVENTS! Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/ Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/ To attend James K. Galbraith's Keynote Lecture, (June 15th, 2023, 1-2:30pm ET) RSVP at the bottom of this page: https://edi.bard.edu/events/     Relevant to this episode: All our episodes with Steven Hail: https://www.patreon.com/posts/43083051 Find out more about Modern Money Lab courses and "Rethinking Capitalism" events here: https://modernmoneylab.org.au/events/ Our two-part interview with Steven explaining the terminology and the mechanics of government bonds: Episode 30 - Understanding Government Bonds (Part 1): https://www.patreon.com/posts/29621245 and episode 31 - Understanding Government Bonds (Part 2):https://www.patreon.com/posts/29829500 Steven mentions Warren Mosler's view on interest rates, and how central bank base rate rises likely have an inflationary bias. For more on that listen to Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Steven mentions the dubious theory that interest rate hikes fight inflation by creating an expectation that inflation will fall (I know, right?) Turns out expectations converge to reality, and not the other way around, as L. Randall Wray explains in episode 163: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true     For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Quick explanation of government debt and deficit: "Some Numbers Are Big. Let Me Help You Get Over It": https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/     For a short, non-technical, free ebook explaining MMT, download Warren Mosler's "7 Deadly Innocent Frauds Of Economic Policy" here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf       Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.c

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