Modern monetary theory makes it sound like money is not - a constant and that the govt can and Posted: Sep 15th, 2018 - 10:15 am In Reply to: It will not COST us a thing - Learn operational reality
will tell everyone what it is, what it's worth and what you can buy with it. This seems too good to be true and like the Titanic makes it sound like a ship that will never sink.
Is there a scenario in the MMT for a depression? or hyperinflation?
It seems the government will set values for the worth of X by manipulation of the currency. Earnings are nullified, savings are nullified, possession are nullified by way of currency manipulation.
It's all backwards. If you save for 20 years to buy a home worth X and the government gives it a value of Y and taxes it at the new value, then you can lose it and all property is “rented” from the state.
It is a bit disheartening to read this and realize that this is what our country and the world is “banking” on. From what I’ve gathered, MMT is basically stating that “this time it’s different. This time we have it all figured out and the economy can be micromanaged.” Just like they say about socialism. "If we just get the right people...."
Oh, well, we all know how "smart" the central planners are.
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