Is Modern Monetary Theory (MMT) a Viable Economic System?
- Thread starter Secure Da Bag
- Start date
King Kreole
natural blondie like goku
I don't think that post is commenting on inflation, it's talking about the fact that the US has traditionally operating without "hard" limits on spending like the national debt because of financial sovereignty and hegemonic dominance.
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" indefinitely without consequence "
Secure Da Bag
Veteran
Progressives don't run shyt. So no, you won't hear anything about this. Unless some economic meltdown or stock market mega crash occurs.
This is a stupid ass theory that won't work anyways.
Doesn't the US already practice the spending aspect of MMT? (but never the taxing aspect...)
Congress has been spending willy nilly for GENERATIONS.
Iraq/Afghanistan War - money just showed up
COVID Checks - Money just "manifested"
With Israel and Ukraine, it's not like Biden n'nem was checking back up accounts, looking in the couch cushions at the White House.
Congress has been spending willy nilly for GENERATIONS.
Iraq/Afghanistan War - money just showed up
COVID Checks - Money just "manifested"
With Israel and Ukraine, it's not like Biden n'nem was checking back up accounts, looking in the couch cushions at the White House.
That’s an incorrect reading on how these findings happen.
And even if it were true, cherry picking one part of a theory does not prove the entirety.
Eternal Tecate
Superstar
Yes
Eternal Tecate
Superstar
Nothing about this is a theory. It's a decision made by the government on how money works in its society.
I’ll save myself the headache.
Secure Da Bag
Veteran
$37T debt.. We back brehs? 
$37T debt.. We back brehs?
MMT is somewhat silly, but the monetary system is also silly. The political system that we use to spend the money is infinitely the most silly.
That said, The way MMT works is that the GOVT* can print as much money as you want BUT you gotta tax that money as well.
*Keep in mind that Private Banks can and do print as much money as they want. The banking license is really about how good your credit team is at figuring out if these "entrepreneurs" are gonna pay you back with whatever they're doing.
The Right wants to cut taxes but keep their subsidies and carve outs.
The Left wants to keep their programs, but doesn't want to do anything to make the programs cheaper. (How can electricity bills go up, when solar cell prices are 90% down? How come big screens are like 150 bucks, but insulin which was invented in 1922 isn't dirt cheap?)
Mathematically it's the same.
So what we have been seeing since at least Clinton is (last time there was a surplus that could have been used to retire govt debt)
- More Govt Programs
- More Govt spending - i.e. Wars
- More Tax Cuts and Tax Breaks
Nobody is trying to bring down costs.
These are not serious people. None of them.