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	<title>Mecpoc</title>
	<link>http://www.mecpoc.org</link>
	<description>A forum for alternative views in economics</description>
	<lastBuildDate>Thu, 24 Jun 2010 01:21:02 +0000</lastBuildDate>
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		<title>Independent Conn. Senate Candidate Warren Mosler Signs Pledge to Vote Against Any Cuts in Social Security or Medicare</title>
		<description><![CDATA[Middletown, Conn. (June, 2010) –Warren Mosler, a leading voice in the fight against the Congressional  bipartisan move to slash Social Security and Medicare, has signed a University of  Missouri Kansas City (UMKC) economics department pledge to never vote for any  reductions in Social Security or Medicare benefits, or any delays in eligibility.

“There [...]]]></description>
		<link>http://www.mecpoc.org/2010/06/independent-conn-senate-candidate-warren-mosler-signs-pledge-to-vote-against-any-cuts-in-social-security-or-medicare/</link>
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		<title>Views on Unemployment</title>
		<description><![CDATA[Mainstream economics claims that full employment brings inflation, and some unemployment (often called &#8216;natural&#8217;) is inevitable. During bad times, like today, unemployment rises significantly from its &#8216;natural&#8217; level and bites even more harshly. We at Mecpoc believe that full employment should be the primary target of economic policy.  As our chosen topic of exploration, [...]]]></description>
		<link>http://www.mecpoc.org/2010/03/views-on-unemployment/</link>
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		<title>When is Government-Issued Debt Safe?  If You Think This is Only True When Debt is Below Some Threshold You May be Dead Wrong</title>
		<description><![CDATA[This story began in earnest back in the early 1990’s when Italian government bonds denominated in lira yielded about 2% more than the cost of borrowing the lira from the banks.  One could buy Italian securities at about 14%, and borrow the lira to pay for them at about 12% for the term of [...]]]></description>
		<link>http://www.mecpoc.org/2010/02/when-is-government-issued-debt-safe-if-you-think-this-is-only-true-when-debt-is-below-some-threshold-you-may-be-dead-wrong/</link>
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		<title>The Fed is the Monopoly Supplier of Net Reserves to its Banking System; Therefore, has no Option But to Set at Least One Interest Rate</title>
		<description><![CDATA[Explanation why:  The reserves of the banking system exist in only one single form: deposits at the Fed.  Banks ‘own money’ when they own a deposit at the Fed.  Banks make payments by transferring their credits.  New deposits at the Fed can only come into existence as a result of Fed [...]]]></description>
		<link>http://www.mecpoc.org/2010/02/the-fed-is-the-monopoly-supplier-of-net-reserves-to-its-banking-system-therefore-has-no-option-but-to-set-at-least-one-interest-rate/</link>
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		<title>In the Banking System, the Causation Runs From Loans to Deposits, That is: ‘Loans Create Deposits’.</title>
		<description><![CDATA[Explanation why:  When a bank agrees in making a new loan, it credits the agreed amount on a bank account.  The only constraint for the bank is when the borrower spends the loaned amount; it will have to clear the payments using reserves at the Fed.  Making more loans increases the need [...]]]></description>
		<link>http://www.mecpoc.org/2010/02/in-the-banking-system-the-causation-runs-from-loans-to-deposits-that-is-%e2%80%98loans-create-deposits%e2%80%99/</link>
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		<title>Operationally, Government Spending is Not Inherently Revenue Constrained.  Any such Constraints Are Necessarily Self-Imposed</title>
		<description><![CDATA[Explanation why:  The government spends by writing checks on the US Treasury General Account at the Fed.  When the check is deposited by the private recipient, the check is cleared directly with the Fed that debits the account of the US Treasury and credits the reserves of the bank that has cleared the [...]]]></description>
		<link>http://www.mecpoc.org/2010/02/operationally-government-spending-is-not-inherently-revenue-constrained-any-such-constraints-are-necessarily-self-imposed/</link>
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		<title>Government $ Deficit = Non Government $ Surplus (Net Financial Assets)</title>
		<description><![CDATA[Explanation why:  Taxes are liabilities that the state has the authority to impose on private sector’s balance sheets.  It is a unilateral transaction driven by a hierarchy relation (not by contractual arrangements).  At the moment a new tax is approved (and before it is paid), the net worth of the private sector is reduced.

Under current institutional arrangements, [...]]]></description>
		<link>http://www.mecpoc.org/2010/02/government-deficit-non-government-surplus-net-financial-assets/</link>
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		<title>Warren Mosler on CNBC</title>
		<description><![CDATA[Warren Mosler&#8217;s appearance on CNBC has started a controversial debate in the midst of the fiscal crisis of Greece.
It all boils down to understanding monetary operations:

 An ECB distribution to European States entails no issuing of debt;


Taxing functions to regulate demand, it does not actually collect revenue;


When China buys US Treasury securities, it makes no specific resource [...]]]></description>
		<link>http://www.mecpoc.org/2010/02/warren-mosler-on-cnbc/</link>
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		<title>How to Fix the US Economy in Less Than 500 Words</title>
		<description><![CDATA[By: Warren Mosler
Aiming at public purpose while reducing government discretionary power, increasing spending power, fixing the banking system, restoring states’ budgets, keeping inflation in check, achieving full employment, easing tensions in the mortgage market, and ensuring sufficient liquidity at all times.

1.  A full payroll tax holiday where the US Treasury makes all FICA payments for [...]]]></description>
		<link>http://www.mecpoc.org/2010/02/how-to-fix-the-us-economy-in-less-than-500-words/</link>
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		<title>2010 Mecpoc Symposium</title>
		<description><![CDATA[Franklin College Switzerland is hosting the 3rd Mecpoc Symposium sponsored by the Mosler Economic Policy Center.
When: Tuesday April 20, 2010
Where: Franklin Auditorium
To view the program, .
]]></description>
		<link>http://www.mecpoc.org/2010/01/2010-mecpoc-symposium/</link>
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