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