Modern Monetary Theory (MMT) centers around the notion that the economy in basic, and cash in specific, need to be the animals of the State.
It’s not an originality– the meme has actually been around in one type or another considering that at least the days of Marx.
MMT essentially posits that the wise and incorruptible solons in government need to produce as much currency as they think is required, invest it in locations they like, and fix any problems that accompany more laws and policies.
It’s absolutely nothing new. Simply a more radical version of the economic fascism that’s controlled the U.S. considering that at least the days of the New Offer. It’s simply another name for an old, and very foolish, set of economic ideas. By silly I mean, “revealing a failure to forecast the indirect and delayed repercussions of actions.”
Won’t Work
Political leaders are now speaking about the expected benefits of MMT. Pseudo-economists are doing their abstruse and incomprehensible mathematical calculations about how it might affect the economy.
The public will easily be encouraged they’ll get free ride.
But what we need to be speaking about here is ethical principle. It’s not a question of whether MMT will work or not work. It won’t. It will work about along with the economic policies of Venezuela and Zimbabwe, or Argentina.
These schemes have never operated in all of history. They lead to a significantly lower standard of life, along with social strife. MMT has to do with drastically increased government control. The argument shouldn’t be over whether MMT will “work” or not. The argument should have to do with whether it’s ethical and appropriate for people in the federal government– whether chosen or selected– to print cash to change the economy into something that fits them much better.
What Money Is
Cash represents the hours of your life that you spent making it. That’s the basic concept here. It represents concentrated life– all the things you want to have and provide for yourself, and attend to others in the future.
When these individuals destroy the value of money, they’re damaging part of your life.
“Inflation” isn’t brought on by greedy butchers, bakers, and gas makers. It’s triggered by an excess of buying media. MMT will provide the State overall control of its amount and quality.
If the government increases the cash supply by, state, 10 times, basic costs will go up by 10 times. The worth of your dollar cost savings will drop 90%– possibly most Americans will not care, due to the fact that they have no cost savings, just debt.
In any occasion, some individuals will get hold of a lot more of that 10x increase than others. And they’ll get hold of it previously, before costs truly take off.
Who? Undoubtedly cronies.
Ethical Concern
Look, definitely every federal government intrusion into the economy– whether it’s taxes or policies or inflation– constantly benefits individuals around the federal government. And damages society as a whole.
However they’re sold to the citizens, to the hoi polloi, to the “head count,” as something that will put them on easy street. Which is a lie, naturally.
However that’s not what the argument should have to do with. The average man doesn’t understand economics; he doesn’t think, he feels.
Additionally, no one discuss whether cockamamie ideas like MMT are ethically best or wrong. Rather, they have meaningless and ludicrous arguments about whether it works or not. Well, it doesn’t work. But that’s an interruption.
This matter is essentially a moral concern, not a technical concern. Does someone in government have a right to identify your financial fate? Or not?
The truth that Alexandria Ocasio-Cortez [AOC]– an ambitious, terminally oblivious, ethically maimed 31-year-old Puerto Rican bartender– is setting the tone for this whole conversation informs you how broken down the U.S. has become. It’s well on its way to becoming a giant well-being and authorities state.
However, as you know, I always look on the intense side. Which is that– if you offer yourself a little mental range– this is all a funny.
AOC, The Donald, Bolton, Bernie Sanders, Pocahontas, Hillary, Kamala, and so on, etc. They’re all dangerous megalomaniacs. However the chimpanzees listen to them, select groups, hold on to their every word, support them, and are quickly prompted to hoot and pant at each other.
The American public is going to get precisely what it deserves. I have no compassion for them. Or about as much as I would have had for the Romans in the 5th century, when the empire was collapsing.
Editor’s Note: It’s clear the Fed’s money printing will enter into overdrive. The Fed has already pumped huge distortions into the economy and inflated an “whatever bubble.” The next round of money printing is most likely to bring the situation to a breaking point.
We’re on the cusp of a worldwide recession that might eclipse anything we have actually seen prior to. That’s specifically why bestselling author and legendary speculator Doug Casey simply released this urgent video.