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Thread: Modern Monetary Theory (MMT)

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    Quote Originally Posted by Havana Moon View Post
    China, India, Brazil and a whole hosts of other countries weren't competing against the US back then.
    More to the point, remember your thread about the Fed and how he couldn't respond to their actions? Same here, he can't speak to MMT.

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    Quote Originally Posted by cawacko View Post
    Oh dear lord. It's about more than just medicare. Again, it's simple comprehension of what's being discussed. Read what's being written in the the articles I posted.
    What is being discussed is what we have called "fiat currency", and determined "deficits don't matter", for at least 20 years, In reading the posts I cannot quite understand why you cannot grasp the idea that one could pay for many items, such as healthcare, by simply passing the costs to the government, and then ending the premiums being given to the private insurer.

    Then too, perhaps you enjoy paying 6 times the amount paid in Europe, Canada, or Mexico, for the same drug bought here in the States. Perhaps you gain some deviant pleasure from seeing kids go a hundred thousand dollars in debt for a college education. Or perhaps you just enjoy kissing the collective ass of those you have placed on a pedestal.
    "2Timothy 3 "But know this, that in the last days perilous times will come: For men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away"

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    Quote Originally Posted by Old Trapper View Post
    What is being discussed is what we have called "fiat currency", and determined "deficits don't matter", for at least 20 years, In reading the posts I cannot quite understand why you cannot grasp the idea that one could pay for many items, such as healthcare, by simply passing the costs to the government, and then ending the premiums being given to the private insurer.

    Then too, perhaps you enjoy paying 6 times the amount paid in Europe, Canada, or Mexico, for the same drug bought here in the States. Perhaps you gain some deviant pleasure from seeing kids go a hundred thousand dollars in debt for a college education. Or perhaps you just enjoy kissing the collective ass of those you have placed on a pedestal.
    And the government pays for health care, schooling and all this how?

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    Quote Originally Posted by cawacko View Post
    And the government pays for health care, schooling and all this how?
    Through taxation of course. The problem people like you have is that you do not mind, and even support, the creation of wealth for the ultra rich through fiat currency while supporting decreasing any form of assistance for what you have considered the useless peons. The country has been at its most productive when income inequality has been at its lowest, and taxation has been at its highest. The 90% tax rate was established basically for one person, John Rockefellor, to prevent his monopolizing the oil industry, and there was that Sherman Antitrust Act. Now you support monopolies on a global system, and oppose anything that might spread the wealth around. In fact, even the programs that are available for the poor eventually profit the wealthy since they are the ones that own the commodities the poor utilize. It is not that the government tells one where to buy at, it is that the government (usually from the right wiong side) allows one group to acquire the wealth necessary for them to monopolize an industry. We see this in housing, farming, the auto industry, oil, whatever.

    You can talk around it all you want, it will not change the reality. Whether it be General Mills, Krogers, Exxon, Monsanto, etc., the opportunities for the small business to expand are shrinking as are the wages for the average worker in his plight of keeping up with inflation.
    "2Timothy 3 "But know this, that in the last days perilous times will come: For men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away"

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    Quote Originally Posted by cawacko View Post
    More to the point, remember your thread about the Fed and how he couldn't respond to their actions? Same here, he can't speak to MMT.
    That thread saw you heap the blame for the non-existent market growth in 2018 on the Fed when it was really the fault of the Russia Tax Cut you support.
    When I die, turn me into a brick and use me to cave in the skull of a fascist


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    Quote Originally Posted by Old Trapper View Post
    Through taxation of course. The problem people like you have is that you do not mind, and even support, the creation of wealth for the ultra rich through fiat currency while supporting decreasing any form of assistance for what you have considered the useless peons. The country has been at its most productive when income inequality has been at its lowest, and taxation has been at its highest. The 90% tax rate was established basically for one person, John Rockefellor, to prevent his monopolizing the oil industry, and there was that Sherman Antitrust Act. Now you support monopolies on a global system, and oppose anything that might spread the wealth around. In fact, even the programs that are available for the poor eventually profit the wealthy since they are the ones that own the commodities the poor utilize. It is not that the government tells one where to buy at, it is that the government (usually from the right wiong side) allows one group to acquire the wealth necessary for them to monopolize an industry. We see this in housing, farming, the auto industry, oil, whatever.

    You can talk around it all you want, it will not change the reality. Whether it be General Mills, Krogers, Exxon, Monsanto, etc., the opportunities for the small business to expand are shrinking as are the wages for the average worker in his plight of keeping up with inflation.
    I appreciate you desire to discuss me except that the topic is MMT which you have chosen not to address. If simply raising taxes addressed all progressive concerns then MMT wouldn't exist and wouldn't have people pushing for it.

    I haven't figured out yet what prevents you and LV from being able to discuss it.

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    Quote Originally Posted by Truth Detector View Post
    Nations cannot print their way out of deficits or debt. That merely devalues the currency to a point where the currency itself is next to worthless.

    The printing of money can only occur when an economy is expanding and there is a demand for the currency. At that point, it can be used effectively.
    Think so fat boy?
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    Quote Originally Posted by Rune View Post
    Think so fat boy?
    Looking in a mirror shit-for-brains? I'm not fat. But you're not merely a fat fucker, but a dumb fucker.
    "When government fears the people, there is liberty. When the people fear the government, there is tyranny."


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    Quote Originally Posted by Nomad View Post
    Unless you just can't stand the idea of "ni**ers" teaching white kids.


    Quote Originally Posted by AProudLefty View Post
    Address the topic, not other posters.

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    Quote Originally Posted by cawacko View Post
    I appreciate you desire to discuss me except that the topic is MMT which you have chosen not to address. If simply raising taxes addressed all progressive concerns then MMT wouldn't exist and wouldn't have people pushing for it.

    I haven't figured out yet what prevents you and LV from being able to discuss it.
    Because it is irrelevant, and we already have a system to take care of the problem. Sorry you are too simple minded to understand that simple concept.

    End of discussion.
    "2Timothy 3 "But know this, that in the last days perilous times will come: For men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away"

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    Quote Originally Posted by Old Trapper View Post
    Because it is irrelevant, and we already have a system to take care of the problem. Sorry you are too simple minded to understand that simple concept.

    End of discussion.
    If it's so irrelevant why is it gaining steam in progressive circles? Why does Bernie have one of its biggest proponents on his team?

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    Quote Originally Posted by Old Trapper View Post
    Because it is irrelevant, and we already have a system to take care of the problem. Sorry you are too simple minded to understand that simple concept.

    End of discussion.
    Too simple minded? Interesting. Yes, following what people like Bernie and AOC, democratic socialists, support is being simple minded. Makes total sense Old Trapper.


    ""Ocasio-Cortez was actually less radical than she could have been on 60 Minutes. She passed up the opportunity to move the Overton Window on another of her pet issues: budget deficits. She adheres to a doctrine called Modern Monetary Theory that’s catching on among young, left-leaning politicians and older policymakers alike. Its counterintuitive core idea is that deficits don’t matter if you borrow in your own currency, just as long as they don’t cause inflation. Unless the economy is at risk of overheating, MMTers say, paying for a new government program doesn’t require cutting another or raising taxes.""

    https://www.bloomberg.com/news/featu...s-and-medicare

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    The problem seems to be that the right wing useful idiots once again do not understand the concept put forth by the likes of Sanders, and OAC:

    http://neweconomicperspectives.org/2...e-sanders.html
    "2Timothy 3 "But know this, that in the last days perilous times will come: For men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away"

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    Quote Originally Posted by Old Trapper View Post
    The problem seems to be that the right wing useful idiots once again do not understand the concept put forth by the likes of Sanders, and OAC:

    http://neweconomicperspectives.org/2...e-sanders.html
    You just posted an article from 2015. Where was AOC in 2015? So you have the name calling down but aren’t doing so well on responding to what’s been posted and that’s MMT in 2019

    Or maybe you can explain what you believe to different from the 2015 version of MMT and today.

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    Quote Originally Posted by cawacko View Post
    You just posted an article from 2015. Where was AOC in 2015? So you have the name calling down but aren’t doing so well on responding to what’s been posted and that’s MMT in 2019

    Or maybe you can explain what you believe to different from the 2015 version of MMT and today.
    You didn't take the time to read the entire article, so once again you don't know what the fuck you are talking about.
    "2Timothy 3 "But know this, that in the last days perilous times will come: For men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away"

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    Quote Originally Posted by Old Trapper View Post
    You didn't take the time to read the entire article, so once again you don't know what the fuck you are talking about.
    An article in 2015 about MMT is going to speak about MMT in 2019? That's amazing!

    Edit: I'll help you out. You posted a four year old article with no reference to what you think it's refuting that has already been posted/discussed.

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