Also, look up Rational Expectations.
Zippergate said:
Of course they say that. But do you know what their answer is to this problem? Secondly, is there any evidence whatsoever that it will work?
Also, look up Rational Expectations.
MMT has nothing to do with command and control of the economy. You mention the Soviets as an unrelated boogeyman.Zippergate said:
No, it's not. It's to raise taxes. Look it up. One problem (among many) is, the marginal propensity to consume for the people receiving the government's largesse may be different than the ones paying the taxes. I mentioned the Soviets because micromanaging the economy like this is what they tried to do and that didn't work out particularly well for them did it (sorry Bernie).
To answer your question of why we borrow, what if we didn't? What if we had simply paid for all of the government's spending with cash, what would inflation be? No bonds, so all that cash is multiplying through the economy. If we are switch to a policy where government spending is not tethered to borrowing, what kind of message is that to our creditors who hold trillions of bonds, and what will the effect of that be? Have you actually thought about any of the repercussions of this?
Your excuses for Bernstein are shocking. Everything about that clip screams incompetence and idiocy.
It's really a waste of time discussing this with you. Every post you have gotten core things about MMT wrong. Then you say Jared Bernstein supports MMT after you posted a video in which Jared Bernstein says of MMT, "I don't get it. I don't know what they're talking about". In that you and Jared Bernstein have everything in common.Zippergate said:
MMT has nothing to do with command and control of the economy. You mention the Soviets as an unrelated boogeyman.
You lost me right there. MMT is all about replacing the market with government control. Your following comments prove as much.
As I said, I'm not an advocate of MMT but I find the theory very interesting and I especially like how some of their simple questions breaks people's brains.
We have (had?) as system that worked. It brought hundreds of millions a middle-class lifestyle. That is NOT a trivial thing. Look around the world and see what the average person is getting from their economic system. My point is this: You say you don't advocate for MMT yet you support the economic advisor to the president who clearly does. They are trashing the existing system to deploy a "very interesting" economic theory that has destroyed one economy after another every single time it has been used. If you step off the curb into the path of a bus, it does not matter whether you feel like you deserve the right of way or not.
I'm just not sure that rich people / pensions / trading partners investing in something else other than Treasuries would have the negative impact you are implying. MMT could pair nicely with a wealth tax. Why pay interest when you can just confiscate obscene levels of wealth?
Sure, take away their wealth. What do you think that will do to the pensions of the working class?
Now, Wall Street would have major ramifications as the concept of the U.S. Treasury as a risk free asset is at the core of what it does. And it is good to have a risk free asset like U.S. Treasuries. Maybe the Treasury could issue some debt and do some printing. Maybe the Treasury could issue 10 years at 2% and only issue the amount for which there is demand? Print the rest. Acceptable spending, inflation and taxation become political questions.
"Risk free"? How exactly are treasuries risk free when in the same paragraph you're telling me that inflation is a political question. Do you think a Saudi give's a flying **** for your political objectives. He wants a REAL, not nominal, rate of return.
I don't know - interesting theory that should have it's relevant questions answered by people like you and Jared Bernstein.
Talk is for sports bars. What exactly makes Jared Bernstein qualified to give advice on economic policy?
LAWFARE: Jack Smith's top prosecutor met with the White House about the Trump prosecution BEFORE any classified documents were discovered at Mar-a-Lago. Newly unsealed documents prove that Biden's DOJ setup President Trump. pic.twitter.com/jugu2716HP
— @amuse (@amuse) May 3, 2024
LAWFARE: Multiple Democrats falsely submitted anonymous tips to the FBI that their fellow Americans were at the Capitol on Jan 6th. One Democrat official reported 7 of his colleagues to the FBI. The problem? They weren't there. Someone falsely turned me in too.
— @amuse (@amuse) May 3, 2024
h/t @kyledcheney pic.twitter.com/p1ZDaYtPM6
— Catturd ™ (@catturd2) May 4, 2024
Mark Hamill: “Joe Biden is most successful president in my lifetime.”
— Lord Bebo (@MyLordBebo) May 3, 2024
Let’s just say no … pic.twitter.com/bf1J3pvTBi
The craziest part? Biden tried to pass a bill blocking price gouging at the pump and you'll never believe what happened next...
— I Smoked Donald VonShitzenpants (@BlackKnight10k) May 4, 2024
REPUBLICANS BLOCKED IT SO THEY COULD KEEP BLAMING BIDEN FOR INFLATION https://t.co/wDssg70q5u
They are gaslighting you at every turn. They told you Russia and Putin was enemy #1, yet we are still buying oil from them (using an intentional loophole) and our military is sharing an air base with Russian soldiers in Niger. Do you think for a second Iran and Israel share an… pic.twitter.com/gcqgFBc3B7
— Tony Seruga (@TonySeruga) May 5, 2024
A lot was made of Ukraine’s corrupt ousted president Viktor Yanukovych’s opulent lakefront mansion, but it doesn’t look so different from Joe Biden’s! pic.twitter.com/tmUCI4Vki6
— Miranda Devine (@mirandadevine) May 4, 2024
Google is censoring this pro-Trump ad to protect Biden.
— Donald Trump Jr. (@DonaldJTrumpJr) May 4, 2024
Let's make it go viral. pic.twitter.com/1qDH5QzkbJ
The highly unpopular, pathetic Biden regime is so desperate for a win that they pretended like Biden negotiated a ceasefire today, which was just a Hamas wishlist, without Israel even being at the table - then they got their fake news media propagandists and online propagandists…
— Catturd ™ (@catturd2) May 6, 2024
Scare tactics from the Austrian economists who have been completely discredited in recent yearsZippergate said:
MMT is about expanding gov't power and expropriating wealth
https://open.substack.com/pub/quoththeraven/p/modern-monetary-theory-and-boiling?r=aiop6&utm_campaign=post&utm_medium=web
Here's a snip...
"Heavy taxation is unpopular. High interest rates are unpopular. Price inflation is unpopular. But if the State can blend taxing, borrowing, and printing in just the right amounts, then they can boil the frogs without them jumping out of the pot.
This insight reveals something about MMT. As much as its proponents brandish accounting tautologies and purely descriptive claims about government finance, in the end it is 100% political. Their framework is about giving the State maximum powerpower to expropriate and power to override what would prevail in unhampered markets. This is on full display in their writings and in their new film. They want to revolutionize the way politicians and voters view money and debt for the sake of their progressive agenda. When it comes to climate change, inequality, healthcare for all, and all the other Green New Deal issues, they want a world in which nobody asks about the costs."
bear2034 said:A lot was made of Ukraine’s corrupt ousted president Viktor Yanukovych’s opulent lakefront mansion, but it doesn’t look so different from Joe Biden’s! pic.twitter.com/tmUCI4Vki6
— Miranda Devine (@mirandadevine) May 4, 2024
I'm impressed she was able to record that video considering that she doesn't know how to use a computer.movielover said:
It's projecting.
Gov Kathy Hochul:
— HOT SPOT (@HotSpotHotSpot) May 7, 2024
Black people in the Bronx “don’t know what a computer is” pic.twitter.com/NNTZHJLcJ5
I hate Kathy #Hochul, she's racist and #incompetent.
— Marquis De Shade (@Marquis_DeShade) May 7, 2024
Bet yer ass she would never say this about Jewish kids, she'd have that Greenblatt vampire up her ass pronto. pic.twitter.com/OHWvsako8H
'Me Teach You White Man Secret Of Fire!' Governor Hochul Says To Primitive Black Children Of The Bronx https://t.co/6VW69jzKNH pic.twitter.com/THxA9eHpo1
— The Babylon Bee (@TheBabylonBee) May 7, 2024
bear2034 said:
Russiagate, the impeachments, the stolen 2020 election, the weaponization of government to imprison Trump...this is the real insurrection.
bearister said:bear2034 said:
Russiagate, the impeachments, the stolen 2020 election, the weaponization of government to imprison Trump...this is the real insurrection.
…and there is no way for tRump to satisfactorily pursue these baseless allegations under our current judicial system, so tRump will have to suspend the Constitution, eliminate the judicial system and install a totalitarian state to redress his paranoid delusional fantasy grievances…..and his next move will to figure out how to restrict the freedom of a civilian population possessed of 435,000,000 firearms (25,000,000 of them assault rifles).
movielover said:
CNN: NYT: RFK Jr. says worm 'got into my brain and ate a portion of it'
https://www.cnn.com/2024/05/08/politics/rfk-jr-mercury-poisoning-brain-parasite/index.html
BIDENOMICS: CNN's @ErinBurnett forces Biden to listen to the facts about his economy. Biden ain't happy... pic.twitter.com/5eMWHnSaJz
— @amuse (@amuse) May 8, 2024
Any person who claims to be "Conservative" and supports full term abortion RFK Jr is a fraud just like he is.
— Catturd ™ (@catturd2) May 10, 2024
If Biden wins, the Democrats will flood the country with 30-50 million more illegals to hold on to power forever - and what's left of our frail economy will be…