ECB is running out of debt to buy – more smoke and mirrors needed1
“The ECB has elaborate rules that present a chimera of responsibility and assurance. They are consistently violated because the rules get in the road of essential policy interventions to keep the system afloat.
While QE has been a smokescreen and really amounts in the Eurozone case to the ECB funding government spending through the backdoor, the fact is that it has kept the Eurozone from collapsing.
To panic that the ECB is running out of debt to purchase just goes to show how ridiculous this straitjacketed system is.
The straitjacket only biased the system to stagnant outcomes and dramatically limits its ability to deal with economic crises.
Eventually, the Member States will have to see sense and change the whole nonsensical system.
(ii) Fikziozko literaturaren rola eta mito ekonomiko neoliberalak (2)
Hasierarako, ikus Fikziozko literaturaren rola eta mito ekonomiko neoliberalak (1)2
The role of literary fiction in perpetuating neo-liberal economic myths – Part 23
“I urge all prospective authors who want to discuss economics in their next book to base the narrative on Modern Monetary Theory (MMT) principles. That will help our cause immeasurably, presuming the books have wide sales.”
(iii) Paradigma aldaketaz: CORE delakoa eta DTM
Paradigm shift – not from the CORE Econ Project – as mainstream as you will get4
“In terms of ‘paradigms shifts’, our approach can justifiably be seen to satisfy the requirements.
The CORE project, despite its claims to the contrary, is a major disappointment and a waste of the significant funds that have been spent to develop the textbook.”
(iv) Jean-Claude Juncker
Jean-Claude Juncker in denial and somewhat delusional5
“Juncker’s speech displayed the usual mixture of hubris, denial and error-prone behaviour that has defined his Presidency.
Sure enough, the Eurozone is growing again, albeit rather slowly and in a divergent way from a Member State perspective.
But the legacy of all the fiscal austerity remains with suppressed growth rates, elevated unemployment levels and inferior employment outcomes.
And that is not to mention the continuing poor investment performance, despite Junckers ‘grand’ (not) plan for revival.”