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re: MMT and the mother of all bubbles
Posted on 5/21/22 at 1:39 pm to wutangfinancial
Posted on 5/21/22 at 1:39 pm to wutangfinancial
quote:
That would drive everybody to hoard. Hard money systems are worse than what we currently have. The opposite of flourishing would happen
It’s a necessary pain
We are in the situation we are in because people keep kicking the can down the road thinking that we can escape this without pain and it can’t happen. The longer we wait to rip the bandaid off the worse the infection is going to be.
This post was edited on 5/21/22 at 1:40 pm
Posted on 5/21/22 at 1:44 pm to wutangfinancial
Lots of downvotes by people who have their entire life savings and 401ks invested in this house of cards. You can’t see or think clearly with that level of commitment to the system
This post was edited on 5/21/22 at 1:45 pm
Posted on 5/21/22 at 3:11 pm to sawtooth
quote:
Can you imagine what our economy would look like if the government was not taking away 30% of what people earned?
Less tax would be good. But taxes are needed to sustain the country.
quote:
Imagine a world where the consumer decided where that money was spent and not some elected bureaucrat.
This happens every day. We don't need dumb arse people making big time decisions though.
Posted on 5/21/22 at 3:13 pm to WaWaWeeWa
I hate to break it to you. Betting on the end of the world doesn't get you paid, and you will never be able to convince the masses to pile in that same trade with you. You're an ideologue.
Posted on 5/21/22 at 3:54 pm to CollegeFBRules
quote:
Modern monetary theory has led to the wealthiest and healthiest global population ever known to human history, yet you claim it is laughably idiotic
MMT is a relatively new theory and still regarded as heterodox. I don’t think the idea that deficits don’t matter was a relatively mainstream view while America was becoming a world power, for example; nor do I think a majority of Americans agree with that sentiment.
This post was edited on 5/21/22 at 3:56 pm
Posted on 5/21/22 at 4:12 pm to WaWaWeeWa
MMT can succeed. It just requires continued investment in our military and public support for colonization.
Posted on 5/21/22 at 4:32 pm to Ross
quote:I think some people might be confusing that dumb theory with just “modern” monetary policy in general.
MMT is a relatively new theory and still regarded as heterodox. I
Posted on 5/21/22 at 4:47 pm to Ross
Deficits don't matter until you wipe out the assets of private citizens abroad while the global supply chain is destroyed
Posted on 5/21/22 at 5:23 pm to buckeye_vol
quote:
I think some people might be confusing that dumb theory with just “modern” monetary policy in general.
I think so. One of my pet peeves is a theory or style with the word "modern" in the name. I'm sure that won't get confusing in 20 years.
Posted on 5/21/22 at 5:41 pm to wutangfinancial
quote:
I hate to break it to you. Betting on the end of the world doesn't get you paid, and you will never be able to convince the masses to pile in that same trade with you. You're an ideologue
I’m not trying to convince anyone to do anything. I’m just pointing out a reality.
It sounds like you basically agree but you are still making money off the house of cards so you just want to turn a blind eye to the blatant problems that are brewing.
Posted on 5/22/22 at 7:42 am to HailToTheChiz
quote:
We don't need dumb arse people making big time decisions though
The same dumb arse people who earned the money? How dare they want to decide how to spend it.
You must be some type of government employee.
Posted on 5/22/22 at 7:51 am to HailToTheChiz
quote:like voting for people who want to spend my money
We don't need dumb arse people making big time decisions
This post was edited on 5/22/22 at 7:52 am
Posted on 5/22/22 at 8:12 am to CollegeFBRules
quote:
So what is the financial / monetary system we should believe in?
Sound money
Posted on 5/22/22 at 3:04 pm to WaWaWeeWa
I agree but the elite class can extend out the end game for 100 years. I wouldn’t fall into that trap that’s it’s already here.
Posted on 5/23/22 at 10:56 am to CollegeFBRules
quote:
So what is the financial / monetary system we should believe in?
One which understands that nothing is free. Printing money to pay government debts, even if you are using inflation as a gauge for how much/little you can create, leads to ever-greater spending and ever-more creative ways to attempt to legitimize continued high spending even in the face of rising inflation as politicians would quickly become as addicted to MMT's free money as businesses have low interest rates.
Unless, of course, you believe our federal government is a consistently wise fiscal steward.
This post was edited on 5/23/22 at 10:58 am
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