Modern monetary theory is all backwards. If the govt can set - values for the worth of X by

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• Stop the madness, learn economics, - The operational reality of US govt (Views: 185, 2018-10-13, 7:53 am)
  • Modern monetary theory is all backwards. If the govt can set - values for the worth of X by
    • MMT is simply put, the "inner party" controls all the - money, both fiscal and monetary (Views: 137, 2018-10-13, 9:15 am)
  • A quick Wiki search shows this theory thinks that since a - govt controls the monetary printing (Views: 218, 2018-10-13, 8:21 am)
    • They fail to realize that any money a government prints is - fiat money unless there is something to back (Views: 133, 2018-10-13, 8:27 am)
      • Party on the printing press! That is what John Maynard - Keynes did, the Communists and Turks (Views: 225, 2018-10-13, 11:28 am)
        • This just makes it easier for govt officials to embezzle - money to fund their lavish lifestyles. (Views: 159, 2018-10-13, 12:20 pm)
      • Nope. - Sm (Views: 159, 2018-10-13, 11:44 am)
        • "Can be managed with taxes and stabilizers," - In other words, raising taxes. (Views: 134, 2018-10-13, 11:53 am)
      • US has had fully fiat currency for last 47 years.. - No sky fallen yet (Views: 109, 2018-10-13, 12:04 pm)
        • Then why keep talking about the debt? Why care about the - interest rate? Is the debt really there? (Views: 117, 2018-10-13, 12:08 pm)
          • The deficit is necessary. - Sm (Views: 129, 2018-10-13, 12:18 pm)
            • Thank goodness the world and American citizens take our - printed, fiat currency at near zero (Views: 199, 2018-10-13, 12:30 pm)
        • Big mistake going off the gold standard. Other countries like - China bought US Treasury Bonds (Views: 192, 2018-10-13, 12:12 pm)
    • No, spending should still be controlled - Understanding funding and demanding (Views: 139, 2018-10-13, 12:00 pm)
  • This sounds convoluted. Bottom line is, it's probably going to - work for about 10 years or so. Then, (Views: 147, 2018-10-13, 8:24 am)
  • So who is financing this debt? - nm (Views: 112, 2018-10-13, 8:29 am)
    • Well, you see, the debt "isn't really there," because the - gov just prints more money to cover (Views: 132, 2018-10-13, 8:37 am)
      • Just in case you haven't read the other - Comments (Views: 146, 2018-10-13, 11:52 am)
  • What is modern about it? Current economics is the same as - old economics. Revisionism is the (Views: 136, 2018-10-13, 8:54 am)
    • Creation of money out of thin air leads to increased - supply of money, which leads to (Views: 125, 2018-10-13, 9:18 am)
      • Nope - Controlled by taxes (Views: 133, 2018-10-13, 11:47 am)
        • So govt created money feeds the pig that is the federal govt - and federal-related spending, (Views: 118, 2018-10-13, 12:05 pm)
          • Without the austerity threats - Funding to the society (Views: 110, 2018-10-13, 12:20 pm)
  • Unlimited budget for government. - nm (Views: 148, 2018-10-13, 10:25 am)
    • No, not unlimited...and we need to demand it be spent - On ALL of us (Views: 116, 2018-10-13, 11:49 am)
      • "When the people find that they can vote themselves - money, that will heard the end of the (Views: 135, 2018-10-13, 11:55 am)
        • Um...there is still Congress in the equation - We need to Learn and Demand (Views: 168, 2018-10-13, 12:22 pm)
          • Ah, now we are getting to what this is really all about. - Socialism. I'm not for corporate (Views: 150, 2018-10-13, 12:37 pm)
            • That is not socialism - Sm (Views: 145, 2018-10-13, 3:42 pm)
            • Central planning never works because it does not incorporate - human nature. (Views: 130, 2018-10-13, 4:13 pm)
  • Economics 101 - See link (Views: 135, 2018-10-13, 6:01 pm)

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