Part 2: Patricia and Christian continue their conversation with economist and author Dr Phil Armstrong about the least useful pieces of economic coverage from 2024.

 

This episode:

 

7) "Markets are natural!"

8) "Banks create all the money!"

9) Labour's Fiscal rule

10) "The government is helpless!"

 

Full conversation here: https://www.patreon.com/posts/patron-only-top-119833826

 

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

 

 

• "Finding The Money", a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: https://findingthemoney.vhx.tv/products/finding-the-money
• Updates on worldwide screenings of "Finding The Money" can be found here: https://findingmoneyfilm.com/where-to-watch/
• To arrange a screening of "Finding The Money", apply here: https://findingmoneyfilm.com/host-a-screening/

 

STUDY THE ECONOMICS OF SUSTAINABILITY!

• Details of Modern Money Lab's online graduate, postgraduate and standalone courses in economics are here: https://modernmoneylab.org.au/

 

 

Relevant to this episode:

• Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) :https://www.patreon.com/posts/29621245
• Episode 31 - Steven Hail: Understanding Government Bonds (Part 2):  https://www.patreon.com/posts/29829500
• "Federal Debt and Modern Money" by Steven Hail & David Joy: https://www.global-isp.org/wp-content/uploads/PN-121.pdf
• "There is no need to issue public debt" by Bill Mitchell: https://billmitchell.org/blog/?p=31715
• 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
• Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 
• Episode 167 - Richard Tye: The Bank of England - The Prequel: https://www.patreon.com/posts/81601103?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.com/posts/35073683 
• Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183
• Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929 

 

For more on Quantitative Easing:

• Episode 59 - Warren Mosler: What Do Central Banks Do?: https://www.patreon.com/posts/39070023
• Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true 

 

Episodes on inflation:

• Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508
• Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678
• Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835
• Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379
• Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558

 

Our Job Guarantee episodes: 

• Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701
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