Randahl FinkFeb 22

American tax payers will now pay for a hospital ship which will be sent to Greenland, Trump claims on Truth Social.

Let me rephrase that: The US, which does not offer free healthcare to its own people, wants it's own people to offer free healthcare… to Greenland… which already has free healthcare.

Maybe it is time for another brain scan for the US president.

Show threadMarkus FalkFeb 22

@randahl be aware that #tax dollars financing a government like the US is a wide spread misconception about how fiat money (https://en.wikipedia.org/wiki/Fiat_money) works. They do not use tax dollars for this otherwise ludicrous propaganda shit show 🤪.

I am wondering who is not being taken care of there. What is the #healthcare system like on #Greenland? No doubt it’s better than what #US citizens have.

Fiat money - Wikipedia

Show threadnotsoloudFeb 22

@markus_falk
Well yeah, but try to fund a well sized government only by printing money. Hello inflation.

If you want more expeditionary hospital ships, one way or another you'll have to tax more.

@randahl

Show threadMarkus FalkFeb 22

@notsoloud @randahl that is part of the misconception. Inflation is not directly linked to creating money. It only rises if the spending power can not be met by what a market can provide.

So as long as there is enough supply in hospital ships, inflation remains low.

Also, raising taxes removes that money from the system and then it’s gone. You literally cannot spend tax dollars. 🤓

Show threadBaron VonskinnbackFeb 22
@markus_falk @notsoloud @randahl so cutting taxes, whilst increasing tax spending & pumping money into the economy via the banking system via the back door to the tune of hundreds of billions of dollars, what does that cause?
Show threadMarkus Falk
@Vonskinnback @notsoloud @randahl it causes the deficit to rise, the economy to prosper and it creates value with whatever was produced with that money.
Feb 22 at 9:36amWeb
Show threadBaron VonskinnbackFeb 22
@markus_falk @notsoloud @randahl so why doesn't everyone do this, has Trump discovered the magic answer to neverending growth & prosperity?
Show threadMarkus FalkFeb 22

@Vonskinnback @notsoloud @randahl many countries in the world function this way. This is how the Biden admin managed to get out of the Covid recession before.

The short story is, there are different schools in macro #economics and the dominating one favors the rich, small powerless governments, free markets and is afraid of government deficits. If you like to learn more you can start here: https://youtu.be/TANEzcjNDvc?si=huuKADzDJ_66JlnT

#neoliberalism

The Self-Improvement Lie

YouTube
Show threadBaron VonskinnbackFeb 22
@markus_falk @notsoloud @randahl thanks for this, I will give it a watch...👍
Show threadnotsoloudFeb 22

@markus_falk
And there are no limits to this process? At all? Where?

Let's say the US government prints a trillion trillion trillion dollars tomorrow. They go shopping for a high speed rail network, health care for everyone, full cleanup of any polluted area, a completely new renewable energy system and throws in arts funding enough to generate a new Renaissance for good measure. Right now. At any cost.

There would be no rise in inflation?
@Vonskinnback @randahl

Show threadMarkus FalkFeb 22

@notsoloud @Vonskinnback @randahl

The amount of money governments like this can create has no limit.

Inflation becomes a problem when the resources a market can provide do not match that investment.
This is the real limit to government spending: the people doing the work, the missing specialists for difficult tasks, the materials that are needed, missing infrastructure and so on.

Anything a government can produce can always be financed.

Show threadDanielFeb 22
@markus_falk @notsoloud @Vonskinnback @randahl The US has an even more special position in this regard, at least for now: the Dollar being the de-facto world currency means that you can issue debt (print money) like there’s no tomorrow, because Dollar debt used to be a desirable (and tradable) asset. Which the US has been living off for decades, at this point.