Something about money

Submitted by Snode on Fri, 03/20/2020 - 3:16pm

There was an article in "The Week" about how the government fiscal policies worked. I kind of suck at this kind of thing, but I understood this article:

"The basic economic misunderstanding that's screwing up the coronavirus response"

https://theweek.com/articles/902903/basic-economic-misunderstanding-that...

It also explains, at least to me, why the democrats suck, and why at this moment in time Nancy Pelosi and Linsey Graham are in complete agreement.

Tags: 
money
bailouts
Democrats
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Submitted by PriceRip on Fri, 03/20/2020 - 3:27pm
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but it's actually pretty arbitrary, and it sows confusion about what the U.S. government's economic powers actually are.

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Submitted by wouldsman on Fri, 03/20/2020 - 4:10pm

Modern Money Theory breaks us free from these very limiting parameters set out by our current system. We could be spending with very little constraint right now and getting on top of this situation quicker and thus saving money in the long run.
With the free time that you are likely to have right now, go to you tube and watch some of Stephanie Kelton (sp?) and Randall Wray. SK was Sanders lead economist during his 2016 run. She and Wray are two of the best at explaining MMT. Once you understand it you will get that we have been taken as fools for many many years by the fiscal hawks.

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Submitted by PriceRip on Fri, 03/20/2020 - 4:16pm
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@wouldsman

          Picking nits, to be sure, but nits must be picked … sometimes.

RIP

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Submitted by PriceRip on Fri, 03/20/2020 - 5:03pm
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          does a nice job setting the tone:

          Economic action by the United States government comes in two flavors: Fiscal policy and monetary policy. The first encompasses the taxing and spending decisions by Congress and the president. The second is basically whatever the Federal Reserve does. This division is taken as a natural fact by mainstream economists and policymakers. But it's actually pretty arbitrary, and it sows confusion about what the U.S. government's economic powers actually are.

          I highlighted the words that highlight why professors of economics don't like me.


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I'am surrounded!

 
RIP
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Submitted by Snode on Fri, 03/20/2020 - 6:37pm

@PriceRip a lot of not so savory things can be done under cover of confusion. Beyond the high school presentation of how capitalism works was this mystical bookkeeping cult of money that presented itself as the science of economics. That we had Greenspan worship for so long mystifies me. Then again the rest of them aren't any great shakes.

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Submitted by PriceRip on Fri, 03/20/2020 - 6:48pm
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@Snode

          and we keep getting the same dismissive "arguments". I don't have any special knowledge. I learned the basics from an uneducated man that did not have a good future staring him in the face. The educational system didn't con me into any improper "understanding" of economics.

          I know for a fact that no two people think exactly alike, so why have so many locked onto such a load of nonsense about this subject?

RIP

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Submitted by QMS on Fri, 03/20/2020 - 9:32pm
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@PriceRip

if one can not grasp the concept that
ones huge pick-up is only
satisfying some marketed insecurity
rather than seeing the guzzler as a
waste of our planet

do a commercial

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A mind that does not detest bad government is foolish.

Submitted by QMS on Fri, 03/20/2020 - 5:08pm
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when there is nothing to be spent

kinda like the IGMFY principle

(I've got mine Fk you)

so prevalent in capitalist circles

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A mind that does not detest bad government is foolish.