Had to give that a “like.” There is zero chance you’re anything but the world’s greatest troll.
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I am but an amateur, which is why I post things from people who are more well versed on the subject than I. You know appeal to authority.
MMT is merely a description how the monetary system works in a sovereign country with a sovereign currency. Debts denominated in our own currency can always be paid. MMT has been used for decades in this country. It’s what pays for all those trillions spent in the mid-east wars. And for some good things like devastation caused by natural disasters. Things that taxes DO NOT pay for. As federal taxes don’t pay for programs. The government is not like us, it doesn’t need revenue. It is fundamentally different as the issuer of the currency versus the user of the currency.
Increase production and wallah, no inflation. Greenspan explained this to corporate politician Paul Ryan when he was making a pitch for privitization of SS.
Where was all the inflation when we were “printing money” for all of those wars?
These questions have been touched on plenty of times before. You just don’t understand them as answers.
It’s one more thing that can be done with fiat. Not commodity based money. A broader fiscal space. Can’t you think past 1 or 2?
Truth and nothing more.
Such as?
And you have with your status quo talking points?
Yes, you’ve made that clear.
It’s a description of how certain economist theorize the monetary system works.
This sentence is one of your main problems. Economics is a soft science, it evolves. These are theories, but you treat them like a religion.
What makes you believe this is true? Why didn’t the USSR just print money to avoid economic collapse? Why didn’t Japan just print more Yen during the multiple period of hyperinflation they went through?
What are federal taxes for then?
Then why does the same government call it tax revenue?
Quite a deep analysis there. It’s also quite a convenient one since no country has ever maximized production and never will.
We’ve been through several periods of inflation and deflation. The Fed doesn’t just sit their and wait to see what happens. They take steps to mitigate every time.
This is the first time you’ve tried to directly answer any of them. At least you tried, finally.
I don’t just add random thoughts to conversation like you.
Platitudes.
I’ve explained several things to you. Sorry not sorry you don’t have the ability to learn.
Weird how you typed out a response instead of quoting one of the several times this has been “touched on” plenty of times before. I wonder why that is…
Quote a single post of mine that is a “talking point” for “status quo” economics.
He has no idea of the concept of an asymptotic maximum that can never be reached.
MMT is just Marxist economics for toddlers whether he or what’s her name want to admit it. We can print forever, comrade. As long as we don’t “maximize production” it’ll be fine, comrade. The gulag is good for the economy, comrade. We’ve reached max productivity so we’re going to have to starve you now, sorry comrade.
Still waiting on how MMT deals with a decline in purchasing power parity. You’d think a fiat guy would be all over that one. Still waiting on how MMT deals with inflation when we reach this hypothetical point of maximum productivity.
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This is my favorite so far. How much money was printed for the 20-years of war in the Middle East vs how much money was printed since 2020 for COVID?
COVID is the perfect example of why MMT is economics for toddlers. Yes, some of the inflation we saw in 2021-2022 was due to supply chain issues, but that has all but cleared up. So what is driving continued inflation if not the massive influx of fiat into economic systems? The UK printed a bunch and they have consistent inflation. The US has issued something like $4T in new money into the economy since 2020 and lo and behold we’ve had record inflation. MMT just dismiss this as a coincidence.
MMT is the result of colleges pumping out PhDs and nothing more. There is no substance to the theory beyond what they’ve taken from Keynesians.
I’ve got the answer
Using Table 1, total cost over 50 years (projecting cost out to 2050) estimated at $8,043 Trillion, or $160.86 Billion per year.
Yeah, that will have as much impact as 4.6 Trillion over 2.5 years… (1/20th of the time period)
Honestly how one comes to such conclusions is beyond me.
Not to mention that is total outlays not money created specifically to be flushed into the system in lieu of consumer spend. There aren’t many example of The Fed doing what they did with COVID. Certainly not to this scale. How would MMT deal with COVID (a time when production is artificially reduced)?
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Do you even know what Marx was a critique of mostly?
Is the U.S. dealing with a declining purchasing power parity?
A larger tax drain could take more money out of the economy. I don’t have definitive answers for this one accept raising taxes. I’m sure things could be done to curb this problem. In WW2 almost all of industry stopped making things and devoted their production capacity to the war effort. A fantastical undertaking. It was a big problem and it was taken care of.
This is true.
This is true with the dominant economic system.
Because I don’t go back through every post I made on this thread? I have better things to do with my time. Like trade or help take care of the animals.
Ahhhhh…no. It is actually how it works/
Japan, hyperinflation? Please expound.
As answered plenty of times before. It is what gives the currency value. Everyone needs to earn it as our currency and many others have no intrinsic value. It is the only thing accepted for a tax liability. Try paying your taxes in Bitcoin or gold. Then tell us what happens from the prison library.
Why does the same government fear monger about things like the debt or SS running out of money?
Maybe you should take this up with Alan Greenspan as he is the one who faced down jerkoff Paul Ryan, who had no answer for this, just a dumb look on his face.
Ahhhh…false. I answer every question, either directly, with a real-world examples or asking a question designed to open up another to think about the question they asked.
Translation: I can’t think conceptually only literally. Everything must be spelled out for me to hopefully get it.
Bwahahahaha…
Sure, you have more than 2x the number of posts of anyone else in the thread, but it’s a time management issue. Right.
For someone who hates capitalism and claims he is altruistic when it comes to helping those less fortunate, these are odd uses of time.
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“I don’t know. Well just take more of your money”. Compelling argument. Maybe go ask reddit or whatever other place you get your garbage talking points from.
Yes it was and then we went through a period of 5%+ inflation.
Lmao, shut up.
Google “Japan lost decade”
Well, that’s stupid.
Answering a question you can’t answer with a question, no way. I can’t belive you’d do that, Zep.
Didn’t realize I was talking to Alan Greenspan. This Greenspan
No you didn’t and you’re not a college professor challenging his students to broaden their understanding. You’re an economically illiterate troglodyte that needs to take about 5 intro classes at your local community college.
I know you’re not talking.
This dude has 60% of the posts in this thread and says he doesn’t have time, fuck outta here.
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