May 18, 2019
Steve’s guest is
Brian Romanchuk, founder of the blog bondeconomics.com., He is
known for, among other things, his detailed technical rebuttals to
critics of Modern Monetary Theory. Brian became interested in MMT
because, as a data analyst in the bond market, it was the first
macroeconomic theory that made sense. It actually matched what he
saw, on a daily basis, in the real world.
After a look at the
history of post-Keynesian thought, Steve asks him to delve into the
nuts and bolts of bonds. Those familiar with MMT understand the
role of Treasury bonds, but Brian gives us an overview of other
types of public and private bonds. Along the way, he compares US
state and Canadian provincial governments & municipalities, and
their relative power over the local economies.
And we can’t talk
with a Canadian without discussing single-payer health care. Brian
shares his thoughts on the economic impact of removing private
insurers from the equation.
Brian Romanchuk was a
fixed income quantitative analyst in Quebec. His writings can
be found on: