Sharon and I voted today in the primary for the office of U.S. Senator from Massachusetts.

I added an addendum to my February post Ed Markey – Stephen Lynch Comparison.

I notice a lot of people are reading this blog post in the last two days. What has become increasingly apparent is that Ed Markey is the only truly progressive candidate in this race in either party. For instance, all the other candidates seem to be in favor of repealing Obamacare after we fought so hard to get a barely acceptable plan in place. I hear that Stephen Lynch has even abandoned the pretense that he voted against it because it was not good enough. I remember how the election of Scott Brown to the Senate was the final nail in the coffin of getting a good bill passed. If Lynch thinks we can repeal what is in place and get something better, I have to wonder what he is smoking.

After we worked so hard to get Elizabeth Warren elected and Scott Brown ousted, the last thing we need to do is repeat the original mistake by putting anybody else in the Senate but Ed Markey.

Even if you do not agree with me, the stakes are too high to not go out and vote.

Seeking Alpha has the article titled Because Debt Is Money.

The financial crisis and the subsequent recession have sparked a continuing debate on inflation and deflation. To date, the fears of deflation among policymakers and economist have been more profound than the prospects of inflation or hyperinflation. This, despite the fact that the U.S. adjusted monetary base has expanded by nearly $2.2 trillion and government debt by nearly $8 trillion after the crisis. This article discusses the reason for inflation remaining muted in the United States amidst ultra expansionary monetary policies of the central bank.

Also check out the article’s link to the Federal Reserve Bank of Chicago’s workbook, Modern Money Mechanics – A Workbook on Bank Reserves and Deposit Expansion.

The article and the workbook are great explanations of why using monetary policy to fight a recession is just like pushing on a string. You can give the banks all the resources they need to lend, but they won’t lend until there is an economic reason to do so.

The Fed wouldn’t have to be trying so hard to push on this string if only the Congress would do their job of pulling on that string.  Pulling on the string means creating  large enough government purchases of economically stimulative items.  These items are commonly described as infrastructure, education, and research and development.  Purchasing is creating the economic demand that the banks and private enterprise cannot resist and still call themselves capitalists.