Nice to see you on MSNBC. Would be great if you could get on Fox and the mainstream broadcast networks. I think we often under estimate the intelligence of viewers. Fox viewers will appreciate your description of how the military, ag subsidies, and the border wall are paid for. ;) Your explanations, analogies and cool demeanor are 👍👍👍…
Nice to see you on MSNBC. Would be great if you could get on Fox and the mainstream broadcast networks. I think we often under estimate the intelligence of viewers. Fox viewers will appreciate your description of how the military, ag subsidies, and the border wall are paid for. ;) Your explanations, analogies and cool demeanor are 👍👍👍 and a lot people will get it.
The politicians (left and right) will only stop misrepresenting the “debt” when the fear mongering no longer works.
Unfortunately, it's just those two hosts on MSNBC who seem to be willing to help inform the public and help break the myth on the most important topic currently facing the US. The weekly primetime hosts on MSMBC just keep referring to Federal government ''debt'' as if it's the same as household debt. This is making it hard to get the left wingers of the edge of the cliff, much less the right wingers.
Federal Government Debt, payable ONLY in US money, that can only be accumulated for debt payments by taxation (revenue/income) is exactly like household debt.
NOBODY pays their taxes with "currency".
Everyone pays their taxes with private bank credit. (Central Bank stuff)
Everyone.
Another MMT canard fails.
BOTH government and Households are USERS of the money system.
Its the paradigm of Debt Only that is indeed at the root of the problem. Nearly everything you have posted here now is unfortunately stuck in that problematic paradigm. Free your mind. It's an enlightening experience.
You would think after the 2008 GFC and the COVID pandemic we would know who the currency issuer is. After the largest financial institutions in the US (world) became insolvent during the GFC who created the US dollars to save the banks? The idea that the US Federal Reserve bank is not an arm of the US Government is an orthodoxy canard. This is problem with building a model based on the desired out come and working backwards attempting to justify the desired outcome.
So when Alan Greenspan told the US congress, "there's nothing preventing the US government from creating as much money as it wants" he was wrong?
The 18 years Fed Chair, under oath, specifically said "the US Government!"
For any discussion about liberating the public from the unpayable debt 'generated' by the private banker Members of the Fed conglomerate, the only solution worthy of consideration is a wholesale systemic and institutional reform to the nature of our national money.
From Private Debt. To Public Asset, or public equity.
However they did Greenbacks.
Easily do-able.
Pass Kucinich's NEED Act and guess what?
MMT becomes prescient.
The government DOES create and issue all the money. Which is what people THINK they hear when the Dr. Kelton and company all say that "The government is the monopoly issuer of the currency.". (MMT says "currency" [paper and coins] People hear "money" - the means of exchange).
Once that's in the can, we can move on to considering all those Post-Keynesian proposals for betterment - UBI v. Job Guarantee ?>, etc..
Besides, Title V of the Kucinich Bill already exists as a List of potential social betterment funding.
Nice to see you on MSNBC. Would be great if you could get on Fox and the mainstream broadcast networks. I think we often under estimate the intelligence of viewers. Fox viewers will appreciate your description of how the military, ag subsidies, and the border wall are paid for. ;) Your explanations, analogies and cool demeanor are 👍👍👍 and a lot people will get it.
The politicians (left and right) will only stop misrepresenting the “debt” when the fear mongering no longer works.
Unfortunately, it's just those two hosts on MSNBC who seem to be willing to help inform the public and help break the myth on the most important topic currently facing the US. The weekly primetime hosts on MSMBC just keep referring to Federal government ''debt'' as if it's the same as household debt. This is making it hard to get the left wingers of the edge of the cliff, much less the right wingers.
hmmmmm....
Federal Government Debt, payable ONLY in US money, that can only be accumulated for debt payments by taxation (revenue/income) is exactly like household debt.
NOBODY pays their taxes with "currency".
Everyone pays their taxes with private bank credit. (Central Bank stuff)
Everyone.
Another MMT canard fails.
BOTH government and Households are USERS of the money system.
That's why We all BORROW.
Get it?
The Money Apprentice.
Its the paradigm of Debt Only that is indeed at the root of the problem. Nearly everything you have posted here now is unfortunately stuck in that problematic paradigm. Free your mind. It's an enlightening experience.
You would think after the 2008 GFC and the COVID pandemic we would know who the currency issuer is. After the largest financial institutions in the US (world) became insolvent during the GFC who created the US dollars to save the banks? The idea that the US Federal Reserve bank is not an arm of the US Government is an orthodoxy canard. This is problem with building a model based on the desired out come and working backwards attempting to justify the desired outcome.
So when Alan Greenspan told the US congress, "there's nothing preventing the US government from creating as much money as it wants" he was wrong?
The 18 years Fed Chair, under oath, specifically said "the US Government!"
Rick,
For any discussion about liberating the public from the unpayable debt 'generated' by the private banker Members of the Fed conglomerate, the only solution worthy of consideration is a wholesale systemic and institutional reform to the nature of our national money.
From Private Debt. To Public Asset, or public equity.
However they did Greenbacks.
Easily do-able.
Pass Kucinich's NEED Act and guess what?
MMT becomes prescient.
The government DOES create and issue all the money. Which is what people THINK they hear when the Dr. Kelton and company all say that "The government is the monopoly issuer of the currency.". (MMT says "currency" [paper and coins] People hear "money" - the means of exchange).
Once that's in the can, we can move on to considering all those Post-Keynesian proposals for betterment - UBI v. Job Guarantee ?>, etc..
Besides, Title V of the Kucinich Bill already exists as a List of potential social betterment funding.
Tell me what's NOT on there.
Thanks
The Money Apprentice