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Month: April 2020

Modern Monetary Theory and Increased Federal Spending

April 24, 2020April 24, 2020 by Michael McCormick B.S., J.D.

Modern Monetary Theory puts forth the idea that the Federal Government can engage in highly expansionary fiscal policy without inflationary  consequences so long as the additional money is directed in an appropriate manner, there are no significant supply constraints, and

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Federal Spending and Inflation

April 10, 2020June 24, 2020 by Michael McCormick B.S., J.D.

At some point during this health crisis the financial class will likely begin its campaign against further Federal fiscal expansion, at least that portion directed towards the working class. They will wrap this argument in the language that heavy federal

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It’s Just Accounting

April 2, 2020April 2, 2020 by Michael McCormick B.S., J.D.

The Federal Reserve (FED) is funding various loan facilities for corporate and other business enterprises which are struggling in the midst of the Coronavirus. The Treasury Department will backstop these loans with $454 billion, certainly more to come, if needed,

Continue reading…It’s Just Accounting

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