J. D. Alt
New Wordology
By J.D. ALT Whenever I get frustrated—which is quite often these days—I vent some steam (and feel somewhat better) simply by imagining a response that Bernie Sanders, Elizabeth Warren, or Alexandria Ocasio-Cortez might give to some conservative pundit when they … Continue reading →
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ZEN and the Art of the Federal Reserve System
By J.D. ALT I know nothing about motorcycles, and not much more about the U.S. Federal Reserve system—yet I feel compelled to dismantle, pick apart, and understand the latter for the simple reason that it seems to be a machine … Continue reading →
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An American Budget
By J.D. ALT Let’s imagine pulling together a group of enlightened economic planners to create an American budget for, say, the years 2020-2024. What might they come up with? To begin with, how might they even go about thinking about … Continue reading →
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MMT’s Opening
By J.D. ALT I recently read in the WSJ that Modern Monetary Theory is defined as the proposition that the federal government can borrow as much money as it needs so long as the interest rate it pays is less … Continue reading →
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Macroeconomic System for Climate Change
Macroeconomic System for Climate Change A U.S. Patent Application Inventor: J.D. ALT (acknowledging all advocates of modern fiat money) Assignment: To all citizens of democratic free societies Abstract: A macroeconomic system including the issuing of a fiat currency by a … Continue reading →
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Let’s Rebuild Mexico Beach
By J.D. ALT It’s telling that in the media coverage about the damage inflicted by Hurricane Michael, there are a lot of stories about how the citizens of Mexico Beach would like to rebuild their town, but no stories at … Continue reading →
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FUTURE DOLLARS
By J.D. ALT In recent essays I’ve made reference to a new framing of what is actually happening when the U.S. treasury issues a bond. It seems to me, this new framing goes to the heart of MMT and might … Continue reading →
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CHANGE THE SUBJECT
By J.D. ALT So, I will now, once again, court blushing naivete…. In the middle of a contemplative walk—during which, I confess, I was imagining with enthusiasm how the Democrats might extract revenge should they win the House of Representatives … Continue reading →
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Paying for Hurricanes
By J.D. ALT What you believe America can build—or rebuild—as a collective society hinges on how you answer one fundamental question: When the U.S. government issues a treasury bond, is it “borrowing” money that must be repaid with future tax-dollars—or … Continue reading →
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