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Nexus X HumectressStephanie Kelton, professor of economics and public policy at Stony Brook University and author of The Deficit Myth, details the economics behind supply shortages sweeping industries across the nation.
Categories: Economics/Class Relations
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Nemesis: The Last Days of the American Republic by Chalmers Johnson
Yes, authorizing the government to do even more grafting and back room deals with fake money is EXACTLY what will solve this problem.
Just add a rent relief program and higher education spending and people will think it’s helping the little man!
Same fucking story.
Stephanie Kelton is a huge proponent of Modern Monetary Theory: https://en.wikipedia.org/wiki/Modern_Monetary_Theory
Yes. She literally wrote the book on it. She’s the king’s economist, giving the moral argument for the excesses of what the managerial class is going to continue to do anyway: spend more of other people’s money on themselves and their fiends. Right now they are just trying to work out the magical words to use to make it seem like its in the best interest of rest of us.
All money is “fake” and MMT is the only serious monetary theory, all others were ideological justifications for private financial monopoly on money creation.
They have no choice but to keep printing money, for two reasons. First, the Triffin Dilemma – any world reserve currency has to keep printing despite domestic pressure due to international demand. This has been known since the 1960’s.
Second, the entire financial system is leveraged to a comical degree. Once one big bank goes bankrupt, it starts a deflationary cycle which literally collapses the entire economy.
The entire reason Ben Bernake was made Fed chair is because his PhD was about this, how to prevent the deflationary collapse by “throwing money out of helicopters.”
What they should have done is institute a UBI back in 2008.
Right-wing morons hate the idea of regular people getting the newly created money, right-wingers only want bankers and the already rich to get to create new money.
Same basic idea with the “Trillion Dollar Coin.” The government can create money via coinage without going into debt to private finance via the Fed.
Why is it right wing morons think it is just fine and dandy for rich bankers on Wall Street to get to create money, but the democratically elected government to create money is somehow terrible?
Oh – right – I just answered my own question.
While right-wing morons may think bankers getting the money would be okay, left-wing morons think that they will get it from the bankers who print it?!? The government bankers will give them money, just because they say they will?!?
The money consolidating in the hands of the wealthy IS THE EFFECT OF the government spending printed money, NOT in spite of it. The “democratically elected government” IS the bankers. Talk about being a moron.