@TaLoN132 back to our conversation ... yeah sometimes I can't tell with Robert whether he is just taking the plaintiffs side when he's reading their petition or he really believes it himself ... he does seem to think that the Supreme Court hasn't been clear on this but I think he's wrong ... @Uncivil Law helped me to understand about the standing issue and that it wasn't a mere technicality. It's a legitimate part of the law and the court is making a statement in its dimissal.
It will be awesome when money is worthless. It’s what all my anarchist friends have been wishing for all this time. Now the only currency is cigarettes, water and bullets. So much better
It’s not even the ceiling that’s the issue, it’s the faith in money that will destroy the economy. If inflation is at 10% and ever increasing you’re in trouble. Imo
that happened sometime ago ... maybe Nixon when he took us off the gold standard or later when Greenspan ushered in the era where deficits don't matter ... thing is the US has a money printing machine ... so it's like an ordinary person taking up counterfeiting, everything works out until folks realizes the money you're printing is fake
more money, less value ... prices of goods and services adjust, eventually ... key is to be first in line where they are handing out the money, you know you are there when you bump into the politicians
Like most things, people tend to dismiss things that are different from what they know by trying to frame the new in a way that over-simplifies the approach. MMT is not a "I can't be overdrawn because I still have checks" approach to finance.
Currency in a construct to represent value. As our economy grows so does the relative value. If there wasn't a way to introduce currency into the economy to represent the growth that has taken place, we would have whatever amount of currency that we started out with 240 years ago. How else is the growth represented.
I think this interview does a pretty good job of explaining MMT from a proponents perspective:
@TaLoN132 imagine you had theme park with your own currency. Call it M dollars. You pay your employees in M dollars and pay your bills in M dollars. Because people like to frequent your theme park people accept M dollars. Now imagine whenever had to pay new bills or employees you just printed more M dollars. Sounds good until the demand for M dollars falls. M Dollars start depreciating. It’s not like $1 to 1000 M dollars. So you need to print more. That’s MMT
The fact that economists treat it the same as climate change denial in the science field is a pretty good idea to me, as a layperson, to take the approach of "Well since I'm not an economist, I'll side with the economists."
I think this would lead to the government stacking up assets it just prints money to buy in the short term, which literally screws everyone else out of their investments if governments can do this.
I don't mind someone disagreeing... I try to approach any decision I make by understanding both sides as completely as possible. That's what I valued in so many of Robert's shows when I first started watching him. He laid out both sides (or tried to given constraints) and then explained his viewpoint. I don't care that his conclusions match mine... I think laying out both sides helps people to understand that both sides of an issue can be reached by reasonable people. When only one side or viewpoint is represented, it makes those on the that side feel emboldened and the people on the other side feel diminished. It's what I hate about echo chambers and I don't need any more of them.
I think that SCOTUS denying on standing had a chilling effect in the legal community. Normally I would agree but there isn’t a lot of legal support for there being an argument for them to hear the case. Just my opinion
The Fed has gone AWOL last 3 chairman’s have been elitist imo. They aren’t even suppose to prop the market up. It’s not even an original mandate. But nobody cares 😂
