Australian (ASX) Stock Market Forum

Modern Monetary Theory - MMT

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Technically you can ignore some threads as you can ignore people.
I do have some thread on ignore too.
I find this thread interesting, the view of Mr @tech/a surprises me , he is definitively not a headless uni left wing art uni student but , he explained his view and from memory, his business is first in line in the cascading chain of benefits.so makes sense for him.
My view is it has been distorded into a free for all careless binge here in the west
 
qldfrog said:
Technically you can ignore some threads as you can ignore people.
I do have some thread on ignore too.
I find this thread interesting, the view of Mr @tech/a surprises me , he is definitively not a headless uni left wing art uni student but , he explained his view and from memory, his business is first in line in the cascading chain of benefits.so makes sense for him.
My view is it has been distorded into a free for all careless binge here in the west
Click to expand...
 
qldfrog said:
Technically you can ignore some threads as you can ignore people.
I do have some thread on ignore too.
I find this thread interesting, the view of Mr @tech/a surprises me , he is definitively not a headless uni left wing art uni student but , he explained his view and from memory, his business is first in line in the cascading chain of benefits.so makes sense for him.
My view is it has been distorded into a free for all careless binge here in the west
Click to expand...
are they benefits , or small steps towards a debt addiction , it won't be that long before every mildly successful person will be expected to over-pay for that helping hand ( that generous government showered on some )
 
tech/a said:
I read all these comments and can't see where people have understood the way it works.
It's not free money.
Its money which is injected into areas to create jobs where people earn a living and generate taxes.
As a business owner, I have to borrow funds to do that --- but I still do it as I know that to expand and grow I have to.

What do you think China Does --- supplies money to build its economy and it works --- massive growth.

In extraordinary cases and it could be argued that Hospitals, Eldercare, are in that lot fixing anything of this magnitude takes lots and lots of $$s It needs to be placed in the system where it is used by many. The Govt doesn't need to have it back it just writes it off but those funds are now moving through the economy as a whole, You, me, we all benefit.

It's happening now Where do you think Russia gets its money from. It hasn't ground to a halt groveling in Bankruptcy.

Anyway back to the grind.
Click to expand...
Can you not see you are making money worth less.
qldfrog said:
Technically you can ignore some threads as you can ignore people.
I do have some thread on ignore too.
I find this thread interesting, the view of Mr @tech/a surprises me , he is definitively not a headless uni left wing art uni student but , he explained his view and from memory, his business is first in line in the cascading chain of benefits.so makes sense for him.
My view is it has been distorded into a free for all careless binge here in the west
Click to expand...

If MMT is sound it's only a short step until different federal government departments can start doing their own printing to implement their directives. Then state governments could do the same thing and then large corporations and the businesses and then individuals.

For those that think money creation is the same thing as wealth creation them MMT makes perfect sense.

Geez you could play a game of monopoly with drunk friends using limitless monopoly money and figure out the problems with MMT.
 
3 hound said:
Can you not see you are making money worth less.


If MMT is sound it's only a short step until different federal government departments can start doing their own printing to implement their directives. Then state governments could do the same thing and then large corporations and the businesses and then individuals.

For those that think money creation is the same thing as wealth creation them MMT makes perfect sense.

Geez you could play a game of monopoly with drunk friends using limitless monopoly money and figure out the problems with MMT.
Click to expand...
mind you ,

thoughtlessly applied MMT is only part of the problem ( even though it is dressed up as a solution )

a consumer-driven economy is another part of the problem , one might suggest the consumer-driven economy leads to the temptation to use MMT ( recklessly )
 
A solid reading of J.K Galbraith and James Galbraith would do a great service to a number of contributers to this thread.

In the OECD a rough rule of thumb is the half the population, 50% die, with zero assets. And it doesn't look at all that good for the next two deciles.
Begs the question... What sort of understanding do that 50-70% have of economics? and capitalism.
 
divs4ever said:
mind you ,

thoughtlessly applied MMT is only part of the problem ( even though it is dressed up as a solution )

a consumer-driven economy is another part of the problem , one might suggest the consumer-driven economy leads to the temptation to use MMT ( recklessly )
Click to expand...

I am not sure what you mean by a consumer driven economy, what other economies are there? It's all about buying and selling stuff isn't it??
 
orr said:
In the OECD a rough rule of thumb is the half the population, 50% die, with zero assets. And it doesn't look at all that good for the next two deciles.
Begs the question... What sort of understanding do that 50-70% have of economics? and capitalism.
Click to expand...
I am not totally sure what point you are making, can you explain more please.
 
3 hound said:
I am not sure what you mean by a consumer driven economy, what other economies are there? It's all about buying and selling stuff isn't it??
Click to expand...
ones based on productivity ( and usually exports ) are fairly common , and then you have barter economies ( straight goods swaps )

Australia could have an awesome economy IF we made most of our needs in Australia and exported the surplus ( where possible )

we might never get into space by all our own work , but we can make most of what we need ( but chose not to )

many decades ago Britain was famously slurred as a nation of shopkeepers ( instead of watchmakers , engineers , miners , farmers etc etc )

Australia is becoming more like a gaggle of shop workers , and pen-pushers ( and a bottomless mining pit )
 
How do I stop these pedantic/ ignorant/stupid emails coming to my box?
Why do they think they are clever?
Please1st mate.jpg Help!
 
divs4ever said:
ones based on productivity ( and usually exports ) are fairly common , and then you have barter economies ( straight goods swaps )

Australia could have an awesome economy IF we made most of our needs in Australia and exported the surplus ( where possible )

we might never get into space by all our own work , but we can make most of what we need ( but chose not to )

many decades ago Britain was famously slurred as a nation of shopkeepers ( instead of watchmakers , engineers , miners , farmers etc etc )

Australia is becoming more like a gaggle of shop workers , and pen-pushers ( and a bottomless mining pit )
Click to expand...
The 90"s were a huge push for Australia to become more than a quarry by value adding thru advanced technology and manufacturing.. Almost limitless millions were spent by gov on the research sector, advanced manufacturing, biotechnology, nanotechnology, advanced materials, Universities and on and on.

The sectors that were so heavily invested in all dissipated soon as the spending frenzy stopped.
 
3 hound said:
The 90"s were a huge push for Australia to become more than a quarry by value adding thru advanced technology and manufacturing.. Almost limitless millions were spent by gov on the research sector, advanced manufacturing, biotechnology, nanotechnology, advanced materials, Universities and on and on.

The sectors that were so heavily invested in all dissipated soon as the spending frenzy stopped.
Click to expand...
I would disagree: was involved into mining related R&D: via CSIRO, University CRC, and various state innovation centers.
Hundreds of job were created, and many companies built and still around in mining automation, IT , data exploitation etc.
My view is that research got too dependent on the $ sponsors so stopped being research but more a sponsor Marketing dept and an internal engineering dept for the few giants aka rio, BHP etc able to spend some money..later retrieved thru taxes.
It is worse now as unless you do a battery related or fight CO2, good luck to get any funding.
And seriously, we'd better leverage our existing avantages: agricultural and mining than trying to compete starting from scrach in the big boys court
 
orr said:
What sort of understanding do that 50-70% have of economics? and capitalism.
Click to expand...
I often ask myself the same question about economists and politicians. Economics is not known as the dismal science for nothing... I mean we have people like Paul Krugman with a Nobel prize... and hasn't made a correct call in his entire career.

And need I mention Steve Keen (who really should be put out to pasture in the back 40)?
 

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