Youtube has the video Dr. Fadhel Kaboub – Climate Change, Climate Reparations & MMT.

Great and powerful presentation. Fadhel Kaboub presentations are always good, but I think this one has outdone previous presentations.

Fadhel is sticking to his explanation of the 1970s inflation. There is nothing untrue about what he says, but I think he leaves out the important driver. The driver was the USA trying to wage the Vietnam war without changing the civilian economy to account for the resources necessary to support the war effort. This failure on the part of Lyndon Johnson is the opposite of what we did for WW II, so eloquently described by Fadhel Kaboub. Not contrasting the two behaviors is an opportunity missed when Fadhel focuses on the unrest in the Middle East. The unrest in the Middle East was partially caused by Lyndon Johnson’s inflation.