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As Herman Gerbils suggested, by repeating something over and over, you can get people to believe anything.
MMT is an economic theory that supports the position that government debt ceilings are self-destructive because in fact the government in reality is unrestrained in it’s ability to produce money.
The fact that the government is unrestrained in its ability to print money is only half the truth, the other half is that for every action there is an equal and opposite reaction, and in this case the unrestrained printing of money that reaction is that it decreases both the value and the confidence in that money.
Our current monetary system is a confidence game pure and simple. The reason the debt ceiling is in place, is to enforce the restraint that will keep the government from crossing the line that will destroy the confidence in the system.
We have already witnessed what happens when the confidence in the housing and equity markets are pushed beyond their natural limits, do we really want to push the monetary system to that breaking point?
Some do because they are the benefactors of government spending.
They, like those in the financial sector whose irresponsibility crashed the housing market and the economy care nothing of the economy or the country as a whole.
They only concern themselves with how they can profit personally. What we are seeing now is the proposal of the biggest bubble of all, the government spending bubble.
The proponents of this bubble like to quote famous economists who supported deficit spending in recessions, but fail to address the fact that they proposed spending surpluses amassed during expansionary years. WE HAVE NO SURPLUSSES! We are piling debt on top of debt, and that is why we cannot avoid the pain of austerity.
The status quo only benefits the very top of the food chain at the expense of the rest of us.
MMT is simply the latest form of Jim Jones punch dolled out by the elite class to continue the policies that have caused the largest gap in wealth between the rich and working class that we have seen since the days of the great trusts and sweatshops of the turn of the century.
I dunno...I'd think twice about taking advice from a gerbil name Herman.
Now if he was named Marvin, then maybe....
Herman / Joseph whats the difference... I was waiting for someone to catch that. Thats what you get for posting before your morning coffee,
Reps to you for catching it.
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