Home » xyzzy » Dungeon » Modern Monetary Theory (or, how I stopped worrying about the natl debt.)
Re: Modern Monetary Theory [message #94267 is a reply to message #94266] Wed, 18 August 2021 12:59 Go to previous messageGo to next message
Wayne Parham is currently offline  Wayne Parham
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Illuminati (33rd Degree)

It's nuts, isn't it?!!
Re: Modern Monetary Theory [message #94281 is a reply to message #94267] Thu, 19 August 2021 14:37 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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A laymen's guide to financial capitalism. An hour and 48 minutes worth. A sit down lecture from America's preeminent economic historian and realist to the fiction of what we're told. Maybe George Orwell studied economics for his book 1984. Part one of three.
Michael Hudson. The Global Financial Empire 1: The Political Economy of Globalization.

https://www.youtube.com/watch?v=4THv2qQjLhc&t=4s
Re: Modern Monetary Theory [message #94291 is a reply to message #94281] Fri, 20 August 2021 14:54 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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Part II. Only one hour 26 long. Mr. Hudson gives references with ancient Greece and Sparta during their economic relationship that parallels significantly to America's historical world economic relationships. It would be easy to scoff at this. But history has a knack at following similar courses. People aren't really much different over the millennia's. And that includes basic economic principals. Which include greed, corruption and manipulations to maintain advantages and power.

Hudson to the cursory viewer may seem as overtly negative with our national, international policies and relations. But I find it refreshing to get a viewpoint that digs deeply into our own and world history to help explain what at least in my mind is a faltering society, fraught with deep divisions brought on by not being honest with ourselves. When our viewpoints are so myopic and dismissive as to have frank unemotionally charged discussions, letting down barriers long enough to let reason play a part in the debate. We might come away not as convinced we have it all figured out. I know I don't.

https://www.youtube.com/watch?v=QAmZXtJfkQU
Re: Modern Monetary Theory [message #94331 is a reply to message #94291] Tue, 31 August 2021 09:38 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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Location: Kansas City Missouri
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Part III Global Financial Empire. More history lessons of America's dominance of the dollar. Michael Hudson gives a frank appraisal of that effect. Our dollar dominance is waning with China's and other countries desire to get away from this influence. As he says, America found a way to do financially what historically countries did militarily to dominate. And to pay for our military's futile forays. It's estimated the US has up to 800 military bases throughout the world.

America was able to strongarm the dollar as the worlds balance of payment for trade after WWII during the Bretton Woods conference. Taking advantage of the allies ruined economies inability to pay the specter of debt.
We were not so much the benign, altruistic and benevolent benefactor that our exceptionalism makes out to be. Self interest and dominance are as much a part of our history as any other empire has acquired.

Dollar diplomacy
https://www.youtube.com/watch?v=5xR02tPQBTM
Re: Modern Monetary Theory [message #94341 is a reply to message #94331] Tue, 31 August 2021 21:54 Go to previous messageGo to next message
gofar99 is currently offline  gofar99
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Location: Southern Arizona
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Hi Everyone,
"We were not so much the benign, altruistic and benevolent benefactor that our exceptionalism makes out to be. Self interest and dominance are as much a part of our history as any other empire has acquired."

Uh yeah. Now that we have departed Afganistan it will be interesting to see how the balance of power and balance of financial power shakes out.


Good Listening
Bruce
Re: Modern Monetary Theory [message #94349 is a reply to message #94341] Wed, 01 September 2021 10:05 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
Quote:
Uh yeah. Now that we have departed Afganistan it will be interesting to see how the balance of power and balance of financial power shakes out.
If you like watching glaciers move, which anymore is faster than ever. Nonetheless economic trends play out over decades. Unless the stock market tanks. Which our economy is too dependent on.
The main thing I get from Hudson's lecture is that the United States has had it's cake and ate it too. And the free lunch is coming to an end.
We whine about China's unfair trade policies when we've made the playbook for them to follow. Taking away our industrial mixed economy for a financialized economy has made great quarterly returns for the upper percentile. At the expense of the vast middle class we enjoyed post war to the 80's.
Our "interventions" save Korea have been nothing but despair.
Re: Modern Monetary Theory [message #94362 is a reply to message #94349] Sat, 04 September 2021 09:46 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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Registered: May 2018
Location: Kansas City Missouri
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Here's a good example of what the neoliberal financialized movers & shakers want from the worlds economies. Carte blanc access to shaping it to their needs. Like they've done domestically in the US. George Soros is a controversial "left" figure. Old, grizzled and every bit expectant of the entitlement of the one percent needs taking precedence over the needs of the other percentage. Michael Hudson deciphers his recent rant in the financial press over China holding out from "allowing" access of the financial marketeers from doing to China's economy what happened to Russia's after their collapse politically. Hudson advises the Chinese govt. against capitulation from financialized dominance. He would do the same for America's, would they show interest.

Grabitization:
https://michael-hudson.com/2021/09/george-soross-dream-to-turn-china-into-a-neoliberal-grabitization-opportunity/






















Re: Modern Monetary Theory [message #94365 is a reply to message #94362] Sat, 04 September 2021 21:34 Go to previous messageGo to next message
gofar99 is currently offline  gofar99
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Hi, Whether or not I share the thoughts in the just posted comments...I have long considered this a polite forum among audio enthusiasts. When I see emotionally charged labels for individuals I feel it is across the line. We can share ideas and thoughts without them. Dungeon does not IMO mean anything goes. Some decorum is needed. If this is not correct then I will withdraw from the site.

Good Listening
Bruce
Re: Modern Monetary Theory [message #94369 is a reply to message #94365] Sun, 05 September 2021 07:20 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 627
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
Sorry Bruce. I'm sure for me my physical description of this person is the least emotionally charged than the entitlement aspect is. I'll refrain from further "labeling". Though admittedly the one individual I skewered commenting on the Malone podcast is of such a visceral disdain on my part. Consider that a gaff one that I have no regrets, but won't repeat.
I do however feel what this article conveys is typical of what is our corrosive economic state of mind.
If you'd care to ever comment on any specific aspect of the economic subject matter I'm trying to convey. As Wayne has. That would be great.
Re: Modern Monetary Theory [message #94373 is a reply to message #88755] Sun, 05 September 2021 08:36 Go to previous messageGo to previous message
gofar99 is currently offline  gofar99
Messages: 1650
Registered: May 2010
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Hi, Gotcha. We all get wired up on things that matter to us. I may be on the edge of being too careful. I like to have discussions on many subjects I just try to keep things from getting too polarized and losing sight of the camaraderie of the forum.

Good Listening
Bruce
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