Soddy, Fuller and Modern Monetary Theory

By aligning our man-made economic thinking with physical reality, we can lay the path to ongoing human success. This is the promise of Modern Monetary Theory.

The Big Three

So long as progressive leaders are allowed to back-pedal on this topic—to try, somehow, to go forward based on the old economics of “commodity” money—little progress can ever be made to address the Big Three challenges that are growing more formidable every day.

A Comfortable Betrayal

The mainstream voices—the economists and journalists and political leaders—thrive on this question of how to divvy up the pot of “money” that America, by some inexplicable process, has been allocated to have. Staking out positions in this allocation argument is their career and sustenance. To take their argument away (by suggesting the pot of “money” is, in fact, expandable—as needed—by the direct sovereign spending of fiat-currency) threatens to leave them marginalized and irrelevant; even worse: possibly unemployed?

As the Debt Ceiling Approaches, a Fiscal Myth Echoes Across the Landscape of Politics

So, Congress is apparently going to both refuse to officially raise the debt limit, and also repeal the debt limit law, but instead will suspend the debt ceiling until next March, well after the 2018 Congressional elections, where a new Congress will decide whether one of the methods for permanently curing debt ceiling crises will be used to end additional episodes of debt ceiling brinksmanship after March 2019.

End the FEDish: Redirecting Our Anger and Efforts to Save the World

Modern Monetary Theory (MMT) represents a lens from which to view the various operational levers within the macroeconomy. It is simply the observable facts about how the monetary system works. Not "believing in" MMT is, in essence, denying reality.

Another Modest Proposal: The Future of Austerity Politics

The similarities of colonial Britain and the politics in American society today are brought to light by examining a centuries-old satirical essay, A Modest Proposal.

An Open Letter To Progressive Candidates and Incumbents

With the new OCF language, candidates and office holders can give an answer to “How are you gonna pay for it?”

THE SHIFT: Understanding and Using America’s Fiat Money

The importance of this is not simply that the U.S. government no longer must keep enough gold in its vaults to back up its money supply. The importance lies in a profound conceptual shift about what money is—and how a modern, democratic society can use that new understanding to address public needs and pursue collective goals.

Permanent Cures for Debt Ceiling Crises

While our attention is on the chaos and consequences of debt ceiling crises, is a good time to consider how we might eliminate them entirely. Here’s a rundown on the four most important methods one can use.

Some Advice for Linsey Fagan and Other Progressive Candidates

So, she can see that if she advocates for the spending needed to solve our problems, then she may be stepping into a mine field right off the bat.  How should she cope with that situation, which she is sure to hit soon if she hasn’t already gotten there? Well here is where MMT can help her and other progressive candidates.

No Trump, You Don't Get To Evoke FDR

It's been said that Trump's infrastructure plan has all the hallmarks of an FDR-era public works program. Here's why that's not true.

Canada: Flagellation Letter in National Post

A monetarily sovereign government is not like a firm or household and can never run out of its own "money" - its own IOUs. The only meaningful way to appraise the fiscal position of the Canadian government is to assess the state of the economy in real terms: do we have full employment, environmental stewardship, and first-class education and health infrastructure?

Why Your New Year's Resolution Should Be To Learn MMT

In 2018, for the sake of your family, your friends’ families and for every American family facing financial hardships, make your new New Year’s resolution to learn about the reality of our nation’s economic system, to learn MMT, and when you’ve done that, teach someone else what you’ve learned. Together we can spread this knowledge and save lives by answering that age-old progressive agenda-killing question: ‘how are we going to pay for it?’

The Truth About 'Printing Money'

Let's also clear up something that is really grating to the nerves.

Rage Against Austerity

I woke today with an inner rage that can only come from experience and knowledge.   This winter, hundreds of thousands of Americans will be on the streets homeless, without food, shelter or heat.   Families will break up from financial distress. Kids will be dealing with life insecurities, bullies who capitalize on weakness and observers will judge "misbehavior" versus dig deeper for the real root causes.   45,000 suicides from joblessness will occur and many more will unsuccessfully try to take their lives in despair.   Millions will suffer from food insecurity or poor nutrition because of financial destitution, austerity and  Calvinism.   Millions will die from pollution and the environmental destruction from contaminated drinking water. Airborne illnesses from air pollution will kill or severely damage their lungs as well.   Hundreds of thousands of minorities, vulnerable from years of systemic and envrionmental racism will die attempting to survive by living in alternative economies from unregulated prostitution to slinging drugs and gang related violence.   Many women will suffer the effects of rape and be forced to self-medicate, have unsafe, unregulated procedures and even commit suicide from a lack of available,  affordable services.   Millions of individuals suffering from mental illness will go untreated, commit suicide, commit murders, destroy families and end up in jail as opposed to a medical facility...   All because the people are more worried about the tone of activists sharing the econonic truths to fix all of the above... tone policing.    And ultimately because of austerity. Cutting federal spending. Tax cuts for the rich and not Medicare for All, student loan forgiveness, free college for all, a Federal Job Guarantee,  Green Energy and an overall dereliction of duty to serve the people by our "elected representatives". Voters are easily distracted and politicians gleeful of our short memories.   #LearnMMT #FuckAusterity #GetSmart #RiggedElections #ShortSightedness #DNC #TaxScamBill

Let's talk about the word 'theory' for a moment

This is how everyday miracles are thwarted by a lack of faith and foresight

MMT Works Today

So let's save the planet now instead of tearing down the system first!

How Progressives Can Win Big

Casting out the Spirit of Defeatism, One Keystroke at a Time

Semantics Regarding 'Taxes Do Not Fund Spending'

So stop wasting time and lives by arguing that the statement is not true!

An Appeal to the Green Party about MMT

The Green Party want to extricate our society from the clutches of neoliberalism, yet their economic platform is riddled with infectious neoliberal catchphrases that tighten our chains.

Tax Reform? We're Having the Wrong Discussion

...We should be worrying about the public purpose, instead.

No Time to Waste

I am tired of dancing the sweet dance of privilege... It takes a truly privileged mindset to slow play saving the suffering from destitution. 

MMT is Reality

MMT, aka Modern Monetary Theory, however poorly the name works for you, is not a system that has to be implemented someday. It is a perfectly accurate description of how our currency works. It is a myth-busting destroyer of propaganda and myths. The establishment and the activist alike speak in lies from the tablecloth... MMT destroys those arguments by shining a light on the functional realities.

A Message to the Green Party National Committee and Howard Switzer Regarding Monetary Reality

Recently, the Green Party of Tennessee posted this and also the first reply (timestamped 12:38 PM) to a comment by Sylvia Saadati on that post. My message below is a critical reply to the main text of this comment, excluding the final portion about AMI. It breaks that paragraph up into its component statements for purposes of a more systematic critique. My conclusion is: whether private or public, neither a Fed bank, nor the Fed’s Board of Governors,  can deny the sovereign will of Congress as it is being implemented by the Treasury. It must create the necessary reserves in the Treasury spending account, whenever Congress mandates spending requiring those reserves, and Treasury pushes the right buttons to force the Fed to create them in its spending account.

The People's Convergence Conference Was A Breakthrough For Progressive Cooperation

The People’s Convergence Conference brought so many new ideas and strategies together, which will only strengthen the burgeoning coalition. One thing is for sure, a new era of progressive cooperation is beginning to take shape.

Incarceration, INC.

Nobody should have a vested interest in anybody else's incarceration.

Where Safety Considerations Don't Matter; The Keystone XL Story

An explanation pre-decision on what will happen with the Keystone XL Pipeline, the danger present, and where people can go if they are interested in changing the circumstances. The Keystone XL Pipeline would be a ticking timebomb if built, so why are we considering it? MOPSA is the name.