Amazing how the amount of money the federal government contributes to the economy is matched by the amount of money the public wants to save, innit?
And a graph of private income to government spending:
Steve Keen’s graph of public to private debt/gdp:
Hyperinflation! This is a study done by Cato institute researchers showing 56 hyperinflation episodes. It doesn’t analyze causes, simply creates a handy graph. But, interestingly, it found *NO* hyperinflations in democratic, stable nations that weren’t undergoing some major disruption such as wars. Hyperinflation is very rare and is always the result of something that disrupts *supplies*. Never from just printing money. In a normal, stable state, printing expands production and employment, and may result in some minor inflation once it reaches full employment, but it *never* hyperinflates. And ironically, Cato thoughtfully supplied the proof for us.
Global Hyperinflations–Cato Institute
Intro to MMT and why we need to understand the differences between what we have now and what we had on the gold standard:
Why we don’t need the Fed to raise rates:
The Natural Rate of Interest is Zero–Mosler, Forster
Graphs, Flowcharts, Animations:
And this gizmo is really cool! It shows the effects of various spending/saving/credit operations on the entire economy, with excellent explanations.
Nice set of graphics and explanations for how the mainstream view of money differs from the MMT version. There are 2 tabs, the Issuer-User Paradigm, which is the MMT approach explained with graphics, and the User Paradigm, which clarifies which economists adhere to each version.