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Warren Mosler: Because We Think We Can Be the Next Greece, We're Turning Ourselves Into the Next Japan

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February 23, 2012 – Comments (1)

This is a fantastic interview with Warren Mosler. The observations about the monetary system are exactly right and what inflation and taxes really are. His observations about 'inflation' and 'money supply' are particularly apt, including oil price spikes.

I discussed oil prices / energy policy / inflation in this post: Why Deficit Spending and Creative Destruction are not Mutually Exclusive Positions, particularly Sections 5 and 6

I also had a debate regarding oil prices and 'monetary inflation' here: see this comment

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Warren Mosler: Because We Think We Can Be the Next Greece, We're Turning Ourselves Into the Next Japan
http://www.neweconomicperspectives.org/2012/02/warren-mosler-because-we-think-we-can.html

The interview starts at minute 19:00

1 Comments – Post Your Own

#1) On March 22, 2012 at 1:45 PM, binve (< 20) wrote:

http://moslereconomics.com/2012/03/09/radio-interview/

7:23 to 11:00 - disscussion regarding oil and saudi price hikes, natural gas conversion, and the 70s stagflation and volcker's policies at the time, and the fact the monetary policy was *not* the solution to the crisis and that is actually made the problem last longer than it otherwise would have by manipulating cost channels. 

Good thoughts on entering into long term contracts with stable trading partners, but right now there is no move to do that, which means we will continue to be subject to the spot market (of which OPEC is still the marginal price setters). Again, this has nothing to do with 'monetary inflation' and is a cost push phenomenon as described here 

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