@GhostOnTheHalfShell

You will not like my thesis.
Communism died in 1980 with the collapse of the wall.
Capitalism died in September 2008, when liquidity stopped for 3 days, globally.
It was only "saved" by 13 Trillion dollars of dirty socialism (peoples) money.
None of the fundamental causes of the GFC were ever addressed.

Capitalism is dead.
Modern monetary theory is a scam.
Everyone with a hand in the cookie jar knows this.
The entire global "economy" is a Frankenstein monster lurching until it's going to fall on its face and the folks with money are building bunkers and planning how to turn the people who saved theirs arses into fertiliser and biodiesel.

#mmt #economy #communism #capitalism #crapitalism

@alex_p_roe @ZhiZhu @politics

#mmt
You. Can’t. Bankrupt. A. Currency. Sovereign.
#mmt

But it can default by choice.

@ZhiZhu

Meep meeep false narrative, warning, meep meep

Calling all #mmt responders to immediately put out the deficit pants on fire.

@danwentzel

The article though is complete hog’s puckey.

Per #mmt, government spends money into existence. It doesn’t print it at some other time. Spending is money creation.

The negative balance of the federal government represents the money supply. The negative balance by accounting identity is paired with positive balances in the non-banking sector.

The principal problem is the size of the money supply that the super rich control.

They need to go

@danwentzel
Sorry. As much as I hate Trump & like your ETTD acronym, debt fear mongering like this is bull💩. USA can’t become insolvent in its own money. Fed gov creates $$ when it spends them into existence. We don’t need to borrow/tax to acquire dollars. See #MMT, eg Stephanie Kelton’s “The Deficit Myth” or https://findingmoneyfilm.com/

Nonsense like this prevents us from housing, feeding, educating, & providing healthcare with pointless “how are we gonna pay for it?” question.

@socprof

100% on this

To put on the #mmt hat here, the government spends money into existence. There’s no separate money printing process.

What that means is where the government spends money is a moral choice to create the money for that spending. It can be spent on Elon Musk and Jeff Bezos or it can be spent on universal healthcare, public health science research climate monitoring and education.

Working people have hand their money over to destruction while the rich keep theirs