MMT: when does government deficit spending improve debt-to-GDP ratios?

Modern Monetary Theory (MMT) (previously) is an alternative to neoclassical economics that holds that sovereign states that issue their own currency can't default on debts denominated in that currency (if you are the sole source of Canadian dollars and all your debts are in Canadian dollars, you can always pay those debts), and that deficit spending is normal (every dollar in circulation was "deficit spent," since the money to pay taxes enters the economy when the government spends it into existence), and that inflation isn't a mere function of government spending -- but rather, inflation occurs when governments and the private sector are bidding against each other for the same goods and services. Read the rest

Woman's short hand lengthened in undeniable miracle

"One woman has come with a problem. One of her hands is shorter than the other." A beautiful and happy outcome for a sadly disadvantaged person. [via] Read the rest