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To: knighthawk

By “we” I assume she is talking about Keynesians, because everyone else understands perfectly well how inflation works.


5 posted on 06/29/2022 12:29:39 PM PDT by Boogieman
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To: Boogieman

And many in government have bought into modern monetary theory,

Modern Monetary Theory (MMT) is a heterodox macroeconomic framework that says monetarily sovereign countries like the U.S., U.K., Japan, and Canada, which spend, tax, and borrow in a fiat currency that they fully control, are not operationally constrained by revenues when it comes to federal government spending.

Put simply, such governments do not rely on taxes or borrowing for spending since they can print as much as they need and are the monopoly issuers of the currency. Since their budgets aren’t like a regular household’s, their policies should not be shaped by fears of a rising national debt.

https://www.investopedia.com/modern-monetary-theory-mmt-4588060


39 posted on 06/29/2022 12:56:38 PM PDT by Rusty0604 (" When you can't make them see the light, make them feel the heat." -Ronald Reagan)
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To: Boogieman

—By “we” I assume she is talking about Keynesians

More precisely, neo-Keynesians. I don’t think Keynes himself would be that dimwitted.

“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

—JM Keynes

I think more like 1 in 3, though, not 1 in a million, not that it makes a practical difference.


56 posted on 06/29/2022 1:35:26 PM PDT by rightwingcrazy (;-,)
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