dgp4indy

Modern Monetary Theory

Venezuelan Inflation Was Not Caused by Printing Too Much Money

"There is, of course, a  hyperinflation problem in Venezuela. But it did not result from printing too much paper. And it's crass to say it is. I am not, when saying so, also suggesting that the government has no part in the problems the country faces: it obviously has. But let's have a mature debate and explanation, and not this nonsense that suggests the printing press is the route to hell in a monetary handcart."
http://www.taxresearch.org.uk/Blog/2018/08/21/venezuelan-inflation-was-not-caused-by-over-printing-money/

The Right Answer To "How Are You Going To Pay For It"

"The question of ‘How are you going to pay for it?’ is now perennially used by journalists to challenge any proposal made by any politician on any issue, whatever its inherent merits might be.....

That correct answer is ‘We’re going to work for it.’ After all, how else is anything paid for? When the government has a plan to spend money it intends to put people to work. And to answer the question ‘How is it going to be paid for?’ the correct answer is ‘From out of the value created, which is why we’re doing it."
http://www.taxresearch.org.uk/Blog/2018/07/24/the-right-answer-to-how-are-you-going-to-pay-for-it/

The Great Deficit Scam

This is a very strong clue that government spending has in fact been woefully insufficient over the decades. We have locked ourselves into a demand-starved economic trap: stagnant wages, low growth, and tremendous cash hoarding at the top. This is the classic description of austerity, and like lowering deficits, austerity accomplishes the opposite of what its advocates publicly endorse.

1) Deficits are irrelevant — they’re not a legitimate policy objective.
2) The government cannot run out of money.
3) Taxes do not fund spending.
4) Spending in excess of tax receipts is not a problem.
https://medium.com/@richardbmcgee/the-great-deficit-scam-9fedb8987485