Well first we got to get rid of the gold standard/fixed exchange macroeconomic thinking. It is literally making people suffer and even die. Our currency is a fiat currency and has been since Aug. 1971 yet we keep treating the economic landscape and formulating policies like our fiscal policies are constrained by taxes. They are not! The fiscal landscape is much broader than the policies take into account. Much more can be done. We can have nice things. Life in this country could be so much better. No more asking the ridiculous âWell how ya gonna pay for it?â Especially when it comes to spending on the people but given the silent treatment when it comes to paying for wars. Other countries have medical-care for free and a much lower cost, sometimes free, in regards to education. And that is only 2 things that could be much better.
Now begin yours or maybe you believe everything is fine the way that it is.
Since you wonât answer the direct question, I asked you Iâll give you the answer you already know. The dollars you pay your taxes with come from the federal government. I know that most likely flies in the face of your economic school of thought, which is why you canât answer it because youâve been unmasked and itâs terribly embarrassing. But hey, you are not alone. There are plenty of brainwashed people in this country who believe that a federal budget works like a personal. So try and be proud and smug in your ignorance. It has served you well thus far.
I prefer not having questions answered with questions. Especially questions redirecting the conversation, and without any meaningful content.
I am fully aware of our fiat monetary system, and the economic principles employed to artificially manipulate it. Iâve discussed this very thing more than once in these forums.
Can you please elaborate on why Iâm embarrassed and how Iâm unmasked? I donât follow.
Now that you have this misguided attack off your chest, can you go back and answer the original questions?
Iâm legitimately curious how you would reengineer an entire economic system.
But, it has served me well thus far. Unfortunately Iâm not going to single-handedly reengineer an entire global economy, so I learn to play the game Iâm in. And I feel like Iâm playing it pretty well, so thank you. Certainly better than spewing bullshit and non-answer responses online as if it means something.
I have an idea, if you donât want to answer my questions, why donât you describe fiat monetary policy and Keynesian economic theory to me? Would love to hear you take a crack at it.
Yeah, w/o any meaningful content. It just gets to the very fundamentals.
BwahahahaâŠjust not aware of how it works.
If itâs misguided, how so? Tell us all what do you economically believe?
Getting the sequence right would reengineer the economic system in this Gawd awful country that makes people suffer for a slavish devotion to the capitalistic system we have here. Spending occurs first, then taxation. Not the other way around. The federal government does not require funding to operate.
Hey, as long as youâre doing good, fuck everyone else and forget if the system is right or wrong. Man, pat yourself on the back. You are so brave. What a T-man!
I must have missed that post. Which economic fundamental did you get to? Dropping the big fiat bombshell?
You understand fiat monetary policy is not actually a secret to unmask, right? Like not even close? Please enlighten me on fiat currency. Or did you mean to address fiscal policy around it? You havenât clarified anything yet, itâs hard to tell.
Please answer the questions youâve been asked without redirecting. Youâre the one who loudly yells about making a change but never defines what it is. Letâs hear it.
You keep repeating this. Please explain.
Again, please elaborate on your system. I gather youâre not doing well. Whatâs holding you back, both in our current system and as a discussion of systemic change? In what system would you excel, and why?
He doesnât. He believes fiat currency provides nearly-unlimited wealth because itâs needed to pay taxes. He doesnât understand that creating more currency just drives prices up to compensate.
I assume heâs headed towards a money printer and am hoping to hear him explain. Ideally including inflation, which Iâm sure his suggestion would be to keep printing, but also calculating for limited real resources, limited labor, motivation to produce et cetera.
Iâve been through it with him. He believes scarcity only exists because thereâs not enough currency. Because taxes. Itâs nice when someone whoâs not articulate tries to lay out MMT, because it makes it all the more obvious how stupid it is.
Japan tried this - itâs why a soda cost 200 Yen and the exchange is consistently 150-200 Yen/Dollar. It sort of works for them for now, but long term stability of the currency is non-existent.
How should a sovereign fiat currency work? How should it be applied to policy?
Try reading my posts, itâs in there.
Itâs self-explanatory. If taxation is not needed to spend and our limits are governed by the resources(this part I left out) then the fiscal landscape is much broader.
Actually, Iâm doing fine. Iâm just not a selfish motherfucker like YOU.
Itâs not about me. I know that is difficult for you to understand but itâs about the majority. And this system obviously isnât it.
Go back through the threads when, I believe, you asked me before.
AhâŠno I donât. I believe it is limited to available resources that can be put to use.
Because itâs needed to pay taxes gives it a value since it has no intrinsic value.
Real resources are the constraint. Not money, thatâs the easy part. Can a deficit get too big? Yes. But it also can be too small. Yes, available resources need to be calculated to hold off inflation.