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clintballinger.bsky.social @clintballinger.bsky.social · 8d

“New quantum discovery challenges Heisenberg's uncertainty principle”

www.yahoo.com/news/article...

New quantum discovery challenges Heisenberg's uncertainty principle

For centuries, scientific progress has depended on more precise tools for measuring the world around us. Galileo’s telescope revealed Jupiter’s moons and shook the geocentric universe.

www.yahoo.com

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clintballinger.bsky.social @clintballinger.bsky.social · 11d

All of #econtwitter converging on post keynesianism without even realizing it (“yes the real world is more complex than our models can capture, complexity science doesn’t really help per se, but if we add in real world dynamics & observations our work can matter…but that’s *haaard*!) #econsky

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clintballinger.bsky.social @clintballinger.bsky.social · 18d

What macroeconomic model is most useful, and what macroeconomic model is most accurate/realistic compared to empirical data?

#econsky

clintballinger.bsky.social @clintballinger.bsky.social · 22d

It’s 2025.
This is a top 5 journal.

People are still writing as if a currency issuer is financially constrained in its own currency

ifs.org.uk/sites/defaul... #econsky

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clintballinger.bsky.social @clintballinger.bsky.social · 22d

It’s 2025. This is a top five journal.
Crowding out, bond issuance driving rates
onlinelibrary.wiley.com/doi/10.3982/...

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clintballinger.bsky.social @clintballinger.bsky.social · 23d

Krugman’s Flashing Neon Sign

By Scott Fullwiler Update: Paul Krugman has posted a reply to this post that is a straw man. He and Nick Rowe are viewing this all through the lens of the old Monetarist/Keynesian debates in which…

neweconomicperspectives.org

clintballinger.bsky.social @clintballinger.bsky.social · 23d

Definitive.
Lending creates deposits out of “thin air.”

“Selgin…has confirmed that the Endogenous Money view is correct. But he didn’t see this because, like almost all Neoclassical economists, he doesn’t use double-entry bookkeeping”
profstevekeen.substack.com/p/selgins-ho... #econsky

Selgin’s Hot Air on Bank Money Creation

George Selgin announced some weeks back that he planned to write a definitive critique of the argument that “banks do not simply act as intermediaries, lending out deposits that savers place with them...

profstevekeen.substack.com

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clintballinger.bsky.social @clintballinger.bsky.social · 25d

“A Blueprint for African Prosperity”
www.myjoyonline.com/how-african-... #econsky

How African Nations can fund their own Grand Ethiopian Renaissance Dam - MyJoyOnline

Let's look at a monumental example that's literally reshaping the landscape of East Africa: the Grand Ethiopian Renaissance Dam (GERD).

www.myjoyonline.com

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clintballinger.bsky.social @clintballinger.bsky.social · Aug 29

“when we look at the World Bank database, there is no evidence that higher interest rates down-regulate inflation.
If anything, the evidence suggests that rate hikes make inflation worse.” economicsfromthetopdown.com/2023/02/19/i... #econsky

Interest Rates and Inflation: Knives Out – Economics from the Top Down

There is strong evidence that higher interest rates don’t mitigate inflation. Instead, they might make it worse. I wade through the details here.

economicsfromthetopdown.com

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clintballinger.bsky.social @clintballinger.bsky.social · Aug 15

“The rise of MMT in China”
www.chinabankingnews.com/p/chinese-ec... #econsky

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clintballinger.bsky.social @clintballinger.bsky.social · May 26

“What is modern monetary theory?”

theconversation.com/what-is-mode... #econsky

What is modern monetary theory? An economist explains how it could help Canada

A heterodox school of economic thought known as modern monetary theory has significant implications for how Canadians understand public debt and deficit spending.

theconversation.com

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 29

“The General Relativity of Fiscal Space: Theory and Applications”

www.tandfonline.com/doi/pdf/10.1... #econsky

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 25

Good time to remember that profits and wages are always a political decision, not an economic one.
And provably so
#econsky

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 25

"Why Are Free Traders So Emotional About Trade?"

'Those who dogmatically object to any strategic trade policy cannot be taken seriously as critics'

commonplace.org/2025/04/24/w...

Why Are Free Traders So Emotional About Trade? | Commonplace

Opponents of tariffs who dogmatically object to any strategic trade policy cannot be taken seriously anymore as critics.

commonplace.org

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 23

(*caveat- an MMT lens can analyze *any* system; however, I think it is safe to say the key insights are closely tied to a system with floating exchange rates)

clintballinger.bsky.social @clintballinger.bsky.social · Apr 23

“MMT* seems inherently incompatible with Keynes’ bancor proposal or anything like it, due to the fixed exchange-rate mechanism of an International Clearing Union (adjustable, but imposed by the ICU)”

Discuss

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 22

2024

“A CONSENSUS IS FORMING FOR IMF REFORM”

www.imf.org/en/Publicati...

A Consensus Is Forming for IMF Reform

The IMF must listen to the needs of its global membership and adapt to emerging challenges

www.imf.org

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 22

I mention this bc
“1” seems to have zero likelihood of happening

“2” is always suspect & probably too narrow to force change

So we will just trundle on w the default option (key currency) despite its many flaws (& despite Trump-caused issues w the $—they won’t flip the system)

clintballinger.bsky.social @clintballinger.bsky.social · Apr 22

Seems no one really wants to change the $ key currency system except:

1. Minority of observers who worry about imbalances impacting developing countries; they don’t just want replacement but creation of ~International Clearing Union

2. Sanctions worriers

Everyone else just wants $ stability

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Reposted

clintballinger.bsky.social @clintballinger.bsky.social · Apr 18

(When the Treasury's "financing" criteria conflict w both qty & types of trys for 1) collateral & 2) monetary policy)

I am pointing out that from an opposite angle- as seen in the ways "money" developed (taxes, commodity-exchange, credit) that a liability-free safe asset important for int'l sphere

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 18

(When the Treasury's "financing" criteria conflict w both qty & types of trys for 1) collateral & 2) monetary policy)

I am pointing out that from an opposite angle- as seen in the ways "money" developed (taxes, commodity-exchange, credit) that a liability-free safe asset important for int'l sphere

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 18

Nathan Tankus points out that unlimited FDIC would help resolve this problem crisesnotes.com/the-night-th...

and that allowing the Fed to issue securities is a related issue crisesnotes.com/we-should-au...

clintballinger.bsky.social @clintballinger.bsky.social · Apr 18

The unexpected Triffin Dilemma: Shadow Banking

The elegant fix? More treasuries

The more elegant fix?

Get rid of the Key Currency int’l system altogether

www.imf.org/en/Publicati... #triffin #shadowbanking

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clintballinger.bsky.social @clintballinger.bsky.social · Apr 18

ZIRP is a bad name bc it is not a policy.

I propose “Il dolce far niente rate”

clintballinger.bsky.social @clintballinger.bsky.social · Apr 18

That’s why both Austrians and the mainstream hate it

clintballinger.bsky.social @clintballinger.bsky.social · Apr 18

MMT is an explanation of why we need to focus on fiscal policy

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