Comments by "boz" (@BOZ_11) on "Yanis Varoufakis on the economic and political impact of the coronavirus | DiEM25" video.

  1. Yannis has missed a number of things with regard to the health of the financial sector. The only reason the financial sector was in trouble was because of accounting, all you have to do is adjust the rules for said accounting and/or print central bank reserves (which are NOT money, since it only exists in the closed loop of the banking sector) to improve the health of the banks and other financial institutions. There's nothing evil or wrong about it, in and of itself. The alternative is to create a brand-new legal foundation for a new financial sector (ain't nobody got time for that). Inequality can only be ameliorated through Govt mandating that banks must lend some percentage of their overall credit issuance to SME's and green projects, combined with fiscal expansion of public infrastructure, and a generous increase in the minimum wage, which should then be indexed to the CPI
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