The only reason all people are not financially successful is because systematic whatever-ism, colonisation and the hegemony of the chrony capitalist class hence what money they didn't make should be printed and handed to them....makes perfect sense.
This is the part that s**ts me off the most. It's moral hazard and that is the reason that anything over the short term it will blow the f*** up.... And the reason certain hetrodox economists light Steve Keen should give themselves an uppercut.
IOW, what is that leaves the large proportion of the population who have been fiscally responsible over the course of their lives only to see the profligate get rewarded for their profligacy.
Those that feel responsible for their own futures will be severely cheated, and that kind of end well.
but that is the human nature part that is ( normally ) very hard to resistThis is the part that s**ts me off the most. It's moral hazard and that is the reason that anything over the short term it will blow the f*** up.... And the reason certain hetrodox economists light Steve Keen should give themselves an uppercut.
IOW, what is that leaves the large proportion of the population who have been fiscally responsible over the course of their lives only to see the profligate get rewarded for their profligacy.
Those that feel responsible for their own futures will be severely cheated, and that kind of end well.
Yes so that allow closing the economy for no objective reason: workkeeper, closing borders, etc etc.Think you're missing this in your simplistic evaluation.
Let's take the current Pandemic where Billions were required instantly.
It's not come from me or you, it's come from printing it where required and shuffling Credit to where it's required with a click of a mouse. Have you seen massive raises in Taxes or rapid declines in spending?
So to the use of those "Free" Dollars. They have stopped countless people from losing homes both their own and rental. Its stopped many businesses from going broke and has led to great improvements in many with employment reaching new peaks. Its allowed spending.
Spending begets employment begets prosperity.
So How does it get paid back?
It doesn't----Click of a mouse and the credit is paid off The GOVT ---any Sovereign power---Is in debt to itself so can write that debt off.
Money makes money, generate it, and USE it and prosperity comes---
Free yes but it is being used over and over and over until it's written off.
Crazy???---Well it's happened and happening right NOW!
money is meant to be a measure( and store ) of productivityThink you're missing this in your simplistic evaluation.
Let's take the current Pandemic where Billions were required instantly.
It's not come from me or you, it's come from printing it where required and shuffling Credit to where it's required with a click of a mouse. Have you seen massive raises in Taxes or rapid declines in spending?
So to the use of those "Free" Dollars. They have stopped countless people from losing homes both their own and rental. Its stopped many businesses from going broke and has led to great improvements in many with employment reaching new peaks. Its allowed spending.
Spending begets employment begets prosperity.
So How does it get paid back?
It doesn't----Click of a mouse and the credit is paid off The GOVT ---any Sovereign power---Is in debt to itself so can write that debt off.
Money makes money, generate it, and USE it and prosperity comes---
Free yes but it is being used over and over and over until it's written off.
Crazy???---Well it's happened and happening right NOW!
Geez nothing gets by you, I thought my tone was most obviously sarcastic.Think you're missing this in your simplistic evaluation.
Yes, definately that's the problem. All this funny money that's been printed has caused massive inflation (Please don't be a chump and blame Putin) and the tax is stealing from our future and the future of our children. It's a very slime+bag way to do it as it's not immediately obvious to dumb people.Have you seen massive raises in Taxes or rapid declines in spending?
You probably believe in perpetual motion and don't know anything about the laws of thermodynamics, you should look these things up.Money makes money, generate it, and USE it and prosperity comes---
Free yes but it is being used over and over and over until it's written off.
Crazy yes and there is an economy happening right now, what fairy tale you attach to it has nothing to do with reality.Crazy???---Well it's happened and happening right NOW!
now the IMPORTANT question is when will this dream ( nightmare ) endGeez nothing gets by you, I thought my tone was most obviously sarcastic.
Yes, definately that's the problem. All this funny money that's been printed has caused massive inflation (Please don't be a chump and blame Putin) and the tax is stealing from our future and the future of our children. It's a very slime+bag way to do it as it's not immediately obvious to dumb people.
You probably believe in perpetual motion and don't know anything about the laws of thermodynamics, you should look these things up.
Crazy yes and there is an economy happening right now, what fairy tale you attach to it has nothing to do with reality.
What are we looking at here in the charts, I am new to finance.Crikey!
I can only see the charts!
Maybe you are reading from the wrong pagesView attachment 140506View attachment 140508
Politicians can now promise potential voters almost unlimited rewards if they vote them in because money in MMT is unlimited.Modern Monetary Theory thinks you can create as much money as you like , and spend your way out of difficulty ( as what your spend will come back as future revenue )
now this isn't completely absurd , but it can't be done irresponsibly either , and the problem is ... someone who has previously been irresponsible with money , will suddenly become responsible NOW after given access to limitless credit
now MOST people when given unlimited credit cannot keep to careful and prudent spending , now this doesn't happen instantly but the trend is to use more and more credit to solve every problem
the OTHER problem here is that fiscal restraint is no longer rewarded by successful solutions ( compared to those that just throw money at all the problems )
Detail aside, the overall thinking and environment sounds rather like the late-1980's.Politicians can now promise potential voters almost unlimited rewards if they vote them in because money in MMT is unlimited.
i expect you are correct , i just wonder how many years/decades/centuries the price will take to pay out ( i bet they will resort to another bunch of tricks and illusions first )Detail aside, the overall thinking and environment sounds rather like the late-1980's.
That ended with "the recession we had to have" and at the state level Victoria was effectively broke once the banks refused to lend the state any more money. What followed were many years of doom and gloom.
All this spending like there's no tomorrow will come at a price I expect.
it puts the excitement into finding out ( sarcasm )When ever I see any thing written about MMT I cannot help but hear those immortal words.
"This time is different"
Apologies if its already been said.
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