Saturday, June 01, 2019

interview with Tim Heidecker

interview with Tim Heidecker

BLVR: What’s a movie you’ve loved recently?
TH: They’re all the kids’ movies, because I have a five-year-old. I’m not kidding when I say that Paddington 2 is the best movie I’ve seen in a long time. It’s so clever and funny. I’m not kidding. Watch it. First of all, everyone in the movie is a great, accomplished actor. It looks like Wes Anderson, but without being so heavy-handed. I liked this way more than I liked Isle of Dogs, which I feel is so in on its own joke. Paddington 2 has great British humor; it’s unpretentious, genuinely funny. Emotional. Very emotional. And [the first] Paddington is also good, but this one is better. And I wept. 

Tuesday, March 19, 2019

Andrew Yang

538 piece on Yang

Some on the left HATE him. Why? b/c of the UBI? They pin everything on his alt right following. 

Yang is the only 2020 candidate thus far to put a universal income front and center, and his campaign says it’s been key to attracting support. But it’s probably not a strong enough issue to propel Yang to victory on its own. A Gallup poll from 2017 found the concept to be divisive — 48 percent supported a universal basic income, while 52 percent opposed it. Support was higher (65 percent) among Democrats, but not overwhelmingly so. That said, if Yang does indeed make the debate stage, he could succeed in making the issue a part of the national conversation.
We’d expect Yang to get a good deal of support from The Left; most Americans think providing a universal income is a socialist position (though it has conservative adherents as well), and Yang has taken progressive viewson a host of other issues...

Saturday, March 16, 2019

MMT, campaigns and unions

MMT Takes Center Stage – and Orthodox Economists Freak by William Black

Warren is the MMT campaign and Sanders is the dem socialist one (even though Sanders hired Kelton for 2016. She's no longer advising Sanders).

If neoliberals want to define as “socialism” an effective government that produces markets in which honest people prosper and we imprison or at least drive from the markets the elite cheaters, then we are all socialists. An economic system without an effective rule of law and with massive negative externalities such as global climate change is a suicidal kleptocracy. If neoliberals want to define that as “capitalism,” they should get used to the public rejecting it as an ideology that is as economically illiterate as it is inhumane and unethical. Kleptocracy and plutocracy invariably corrupt and ruin democracy. The truth is that honest markets and governments are complements and that the most effective economies are ‘mixed-economies.’ Using ‘socialism’ or ‘capitalism’ as swear words is a pointless waste.

MMT doesn't sound like socialism to me.
We did not design this branch of our work, which began in 1984, to help any candidate. It is remarkable that Warren has not yet used this strand of MMT research to bolster her central policy positions.
Warren says she's a capitalist and believes in capitalism. She started as a Republican but her program (wealth tax, break up tech giants, housing, childcare, M4A, Green New Deal (vague)) is better than what we saw from Obama or Clinton.

She gave a bad answer on abolishing billionaires.

How is MMT on unions and the labor movement?

Monday, March 11, 2019

MMT & foreign exchange markets

(more random thoughts sorry)

which reminds me of Mosler’s earlier comment above on ISLM – i.e. that it applies to a fixed exchange rate model)

Fixed exchange rate means what? Central bank will buy and sell to maintain rate of exchange.

Sterilize important concept. Central bank would "sterilize" gold inflows to maintain value of money relative to gold. 

Bond vigilantes. Chinese selling Treasury bonds which they bought to maintain exchange rates. Krugman and Baker regularly point out if they sell, makes currency cheaper, exports more competitive. Increases jobs and income and demand. Greece couldn't adjust b/c of euro.

Friday, March 08, 2019


(random thoughts sorry)

In reference to price-gouging, Bernie Sanders say drug companies raise price to "what the market will bear."

At a certain point, people will stop paying higher prices and other priorities for spending are put ahead of the new high price. Sanders want to move drug prices down to what people can afford.

Inflation as it relates to demand, businesses will raise price if they can or if they must. If there is more demand at a certain income, business will supply good and services at prices that the consumer will pay and business can survive on.

In the 50s and 60s teens had more money so they could spend on music or comics and this allowed artists to have careers.

cost push demand pull