Phantom Wealth, Phantom Debt, and Viral Pandemic

A great deal of angst has emerged over the huge amount of money, initially two trillion dollars, being conjured “out of thin air” to counter the economic collapse occurring under to stay-at-home orders and business closures as the COVID-19 pandemic accelerated. The Two trillion dollars quickly proved to be wildly insufficient to stimulate the economy … More Phantom Wealth, Phantom Debt, and Viral Pandemic

Debate on “Modern Monetary Theory” Misses the Mark

Artificial wealth comprises the things which of themselves satisfy no natural need, for example money, which is a human contrivance. ~  St. Thomas Aquinas Buzzwords seem to rule public discussion of just about everything. Money is no exception. Now it’s “Modern Monetary Theory.” What’s that? Well, it depends on who you ask. In modern times, … More Debate on “Modern Monetary Theory” Misses the Mark

Trapped by Finance Capital: Business as Usual While Planet Burns. Part I: Control

Despite the absurd antics of a few fossil-shills in the U.S. Congress, most Americans now recognize the urgency of taking strong actions to mitigate the rapidly growing climate crisis. Mitigation has to mean stopping the flow of CO2 into the atmosphere and oceans so that the damage to ecosystems that is well underway can be … More Trapped by Finance Capital: Business as Usual While Planet Burns. Part I: Control

Borrowing Nothing from Nowhere: Phantom Money and Phantom Debt

Borrowing money is a tricky thing to talk about, even trickier than talking about money itself. We all seem to have a love-hate relationship with the stuff. Well, maybe ‘stuff’ is not the right word. People disagree about what money actually is. Some, who I’ll call “money realists,” believe that the essence of money is … More Borrowing Nothing from Nowhere: Phantom Money and Phantom Debt

Public Renaissance: What Ebola, Ferguson, and Finance Can Tell Us

Public concern over the possible spread of the Ebola virus epidemic from West Africa to the U.S. is growing. While the Centers for Disease Control (CDC) is taking various precautions, the situation is nevertheless of sufficient complexity to warrant concern. The outrage over the police killing of unarmed black teenager Michael Brown continues as a … More Public Renaissance: What Ebola, Ferguson, and Finance Can Tell Us