my take on mmt is that it is useful to remind people that "the debt, the debt" is a dishonest politcal "meme" used by both parties to gain support for tax cuts or welfare increases..both more for political reasons than any serious economic or human needs. beyond that mmt as a "lens" would do nothing to prevent "created" money be spent on whatever the current deciders want: mostly some kind of subsidy to big money or the occasional welfare increase sop that does nothing to reduce poverty or change the need for welfare.
there was a mment recently when i thought it ironic that the worst of the Right, by crying "the deficit, the deficit!" might actually stop the big beautiful bill. instead i was reminded that it never was aboout the defict, but about winning votes from people who thinks the deficit matters.
personally i think the deficit ultimately does matter...but not to the point of using it as an excuse to to enact limited policies that would help "the economy" or "the people" as needed.
and i wish i knew the difference between "creating money" with a keystroke...and creating money by borrowing (selling bonds). is "roiling the bond market"just a [sychological issue ot does it matter in any this therefore that sense?
One area of distinction, I believe, is the use of interest rates to tamp down expected or potential inflation because the debt is too large. What are your thoughts, do I have this correct? Is Trump right for the wrong reason? Should the Fed actually lower rates?
my take on mmt is that it is useful to remind people that "the debt, the debt" is a dishonest politcal "meme" used by both parties to gain support for tax cuts or welfare increases..both more for political reasons than any serious economic or human needs. beyond that mmt as a "lens" would do nothing to prevent "created" money be spent on whatever the current deciders want: mostly some kind of subsidy to big money or the occasional welfare increase sop that does nothing to reduce poverty or change the need for welfare.
there was a mment recently when i thought it ironic that the worst of the Right, by crying "the deficit, the deficit!" might actually stop the big beautiful bill. instead i was reminded that it never was aboout the defict, but about winning votes from people who thinks the deficit matters.
personally i think the deficit ultimately does matter...but not to the point of using it as an excuse to to enact limited policies that would help "the economy" or "the people" as needed.
and i wish i knew the difference between "creating money" with a keystroke...and creating money by borrowing (selling bonds). is "roiling the bond market"just a [sychological issue ot does it matter in any this therefore that sense?
not "an excuse to enact.." but "an excuse to refuse to enact..."
otherwise, sorry for the typos. hope you can see what i meant.
One area of distinction, I believe, is the use of interest rates to tamp down expected or potential inflation because the debt is too large. What are your thoughts, do I have this correct? Is Trump right for the wrong reason? Should the Fed actually lower rates?