Continued financing of government debt by the Bank of Canada poses significant economic risks

May 18, 2021 | Fraser Institute (Canada)

Includes “The idea that the Bank of Canada can continue to finance government debt by printing money without a clear commitment to repayment, known as Modern Monetary Theory (MMT), poses enormous risks to the Canadian economy, finds a new study released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. ”

Janet Yellen speaks to the Pontifical Academy of Sciences about the need for global corporate tax coordination

May 14, 2021 | Economic Policy Journal

By Robert Wenzel, includes “This has to be a first for a United States Treasury Secretary. … There was no word on whether the Pope was taking notes.”

Imminent existential threat, or outright fiscal meltdown?

May 13, 2021 | Business World (Philippines)

By Diwa Guinigungo, includes “This monstrosity descended from the AFP-Retirement and Separation Benefits System (AFP-RSBS) during martial law. … AFP-RSBS failed to be a self-sustaining pension system. It was subsequently deactivated.”

Rainy day fund, simply a diversion

May 3, 2021 | O

By Graham Lane, includes “… It is using an old government ’accounting game’, it’s so-called ‘rainy day fund’, via something called the Manitoba Bridge Grant program."

Why public assets are key to debt sustainability: A moral goal

April 21, 2021 | MarketScreener

By Ian Ball, Dag Detter, Yannis Manuelides, and Wang Yen, includes “In thinking about the links between fiscal policy and bond markets, the focus has tended to be on debt.”

Janet Yellen, Kristina Georgieva and David Malpass meet in a room

April 7, 2021 | Economic Policy Journal

By Robert Wenzel, includes “The joint World Bank, IMF spring meetings are taking place this week. … The conversation was themed, ‘Economic Recovery: Toward a Green, Resilient, and Inclusive Future.”

In the secretive world of government-to-government lending, 100 Chinese debt contracts offer trove of new information

March 31, 2021 | Center for Global Development

By Scott Morris, includes “… Which raises the question, why aren’t more of these contracts made public? And not just Chinese contracts. The uncomfortable truth is that citizens in virtually any creditor or debtor country would have a very hard time tracking down their government’s debt contracts.”

Do sovereign wealth funds pose a national security risk?

March 10, 2021 | International Policy Digest

By Richard Carroll, includes “Historically, sovereign wealth funds have been passive investors in the world economy. That appears to be changing. Sovereign wealth funds are now becoming more proactive in investing in equities, bonds, and real estate worldwide.”

The unhelpful comparisons surrounding Britain’s COVID debt

March 4, 2021 | The New European

By James Ball, includes “… It’s a shame, then, that so often in politics – especially in the week of a budget – we start talking about government finances as if they work like a household budget…. For a household, budgeting is about accounting: making sure what’s going out (bills, rent or mortgage, debt repayments and so on) is, ideally, less than what’s coming in. But for a government, it’s really a matter of economics – when your actions can affect the whole economy of the country you manage, concentrating on the spreadsheets and the accounting can cost you far, far more than it saves.”

We need to bust the myth that a deficit is a bad thing

February 17, 2021 | The National (Scotland)

Letters to the editor, including one by Malcolm Parkin that includes “… Common sense says we can never now repay or even reduce the national debt, and history proves we don’t have to, as it has risen from £350 billion in 1997 to £2000bn in 2020.”

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