Friday, November 09, 2018

With MMT, Can Every Day Be a Jubilee?

A couple of FB posts I wrote with some links I wanted to save.

The national debt is basically a scam serving 2 purposes:

  1. Pay interest to the investor class;
  2. Provide a reason to gut Social Security, Medicare, Medicaid, and the entire social safety net. I still for the life of me cannot figure out why they want to do this, aside from just plain meanness.

The Fed could totally do what the Japanese are doing ... #jubilee.

What the Japanese are doing is that the Bank of Japan is buying up their national debt. Nice!

This next I have not posted yet.

Modern Monetary Theory (MMT) is fun! I don't think they have it 100% correct, but they are totally heading in the right direction.

If Congress does not spend more money into the economy than our real resources, our productive capacity (our capacity to produce) can handle, then there is no inflationary risk.
So, for example, Congress could direct the Fed to print the money to pay everyone's medical bills and student loans. Those represent already used resources, so absolutely 0 risk of inflation.

And, as I have mentioned a few times before, in 2009 during the quantitative easing (QE) program, the Fed tripled the amount of $$$ in circulation, and, despite dire warnings of hyperinflation from conservatives, of inflation there was none!

This video seemed like a good intro. I definitely need to check out MMT more fully.

I also wanted to include this snippet from Star Trek: Next Generation (STNG) that I have often referenced. It isn't quite as I remembered it, but, close enough. Yes, I want to live in the future!

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