Clark
before I start I would like you to read following article and hopefully spend
some time having a look around that website:
line-height: 14pt”>https://positivemoney.org/2021/09/lawmakers-urge-bank-of-england-to-regulate-fossil-finance/
IMO Money creation is the core problem. Most of the money is created by private banks as debt.
It is up to them (banks) to lend where they find it profitable and least risky.
Fundamental problem is that they do not lend other people’s money as we all believe.
But governments have to borrow with interest.
There might be some restrictions after 2008 but nothing major.
I strongly believe that Government should create extra money at least interest free if not debt free.
If D G joins this discussion, this link is for him. It is a Swedish link but very readable.
https://www.riksgalden.se/fi/our-operations/central-government-debt/how-does-the-government-borrow/
I don’t disagree with MMT but I question the assumption of their theory, and as such DG’s comments in the main thread.
BTW Sir Keir Starmer’s speech for me was cringeworthy. Any comments?