Home » xyzzy » Dungeon » Modern Monetary Theory (or, how I stopped worrying about the natl debt.)
Re: Modern Monetary Theory [message #93654 is a reply to message #93653] Wed, 05 May 2021 11:04 Go to previous messageGo to next message
Wayne Parham is currently offline  Wayne Parham
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Registered: January 2001
Illuminati (33rd Degree)

I'm glad you hang out and visit with me here. I hope someday to come see you in Kansas City, or maybe we'll meet in Dallas at LSAF some year.

But you know, I'm still scared that our financial day of reckoning will come, just like it has for all other economic "world powers" like Rome, England, etc.
Re: Modern Monetary Theory [message #93658 is a reply to message #93654] Wed, 05 May 2021 14:09 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
Thanks Wayne. I have admired your beacon of audio sanity for some time. I hope to be able to meet you and some of the other regulars around here at your audio fest one of these days when the coast is clear. And I too am wary of that day of reckoning of our economic house of cards. The deficit no, just from too many indulgences from the usual suspects that compel me to start my little crusade here. Again, I appreciate the opportunity.
Re: Modern Monetary Theory [message #93668 is a reply to message #93658] Fri, 07 May 2021 10:20 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
Gimme That Old Time, Corporate Religion.
Springing off from the mentioning by pastor Hartgrove from the podcast link with economist Michael Hudson. Hartgrove brings up an interesting aspect of United States history that is playing out still today with economic, religious and social ties. The time period during the mid 30's when the depression was in full swing there developed a campaign to enhance the image of corporate America. James W. Fifield https://en.wikipedia.org/wiki/James_W._Fifield_Jr. led the Spiritual Mobilization, a religious-political organization that grew nationally and established essentially what is today known as the religious right affiliation in politics. Hartgrove also brings up the author Kevin Kruse whose book One Nation Under God explore this phenomena of American history that blends the church and state more or less together with what some people these days can find both a blessing or a curse. An excellent show VPM, (Virginia Public Media) discusses the book. https://www.youtube.com/watch?v=EyDg_jwYxH8
Re: Modern Monetary Theory [message #93768 is a reply to message #93668] Fri, 14 May 2021 11:38 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
The Hudson Hornet I call him. Not the car some older folk that know American autos from the 50's. I call him that because he stings repeatedly and purposely with the target of the rentier class. The big shots that garner most of the wealth in the world and wouldn't mind at all a neo feudalist society could be fully implemented. America since WWII has been influencing governments of the world with the dollar and will not have that capability so much longer. Our rivals have caught on, and they're pulling out of the game. Michael Hudson called it something else, but his publisher in the early 70's wanted it called, Super Imperialism. America's foreign policy in a nutshell. A long podcast with his always controversial thoughts. For the rentier's that is.

The World's Absentee Landlord
https://www.youtube.com/watch?v=S-ZGdAi8Ji0&t=1s
Re: Modern Monetary Theory [message #93814 is a reply to message #93768] Tue, 25 May 2021 12:30 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
It's dismaying reading & listening to todays political discourse. I can't make it through the evening natl. broadcast at times. All the infighting, smarmy remarks the two throw back and forth. I have to say though, and my oldest bro. mentioned it over some news item. That one of the two parties has become particularly diseased these days. But not so much that the other party wants to heal the infectious gangrenous wound that stymies a system oozing with decay. That would be the debt, and the sanctity of the creditor.
They take precedence over the public. That is how the economy is run. Would it not be a great luxury, for our major news outlets to give a voice to this issue. To feature this type of reporting. Instead of what some senator or congressperson said to or about some other peer on, the other side of the aisle. We get soap opera over substance.
https://theanalysis.news/interviews/why-biden-wont-cancel-student-debt-michael-hudson/
Why? Because pain will not be tolerated by the financial class. Only meted out.

Re: Modern Monetary Theory [message #93828 is a reply to message #93814] Fri, 28 May 2021 18:15 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
You'd wonder why we would want crooks, con men, and liars running our economy? Well dressed, well educated and well spoken. But that is what we get when the finance boys call the shots. Bill Black knows this thoroughly. He is a law professor and former governmental regulator. His expertise is predation and control fraud. This is the tool of choice for ripping off the public. He was involved investigating the saving & loan frauds of the 80's to the 90's. They actually incarcerated some of the top players then. But, it never has ceased. After the Enron debacle where the top scoundrels were send up the river. The sailing has been sweet for the Banksters. The only convicted players were small fry from the housing bubble recession the banking industry caused in 2008. It's going on to this day unabated. Only that nowadays there is no penalty for collapsing the economy. The fraudsters seemingly have immunity. The reason is, they are essentially an extension of the government. With players involved in the federal reserve system. And the payola of lobbying and campaign contributions. The fox guarding the chicken coop.

Bill Black is interviewed in a two part series with Paul Jay's podcast. Explaining in detail how the scheme works. He's also featured in a documentary titled, The Con. Showing on Hulu.

https://theanalysis.news/guests/bill-black/


Re: Modern Monetary Theory [message #93843 is a reply to message #93828] Mon, 31 May 2021 11:43 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
Cancel Culture, seems to be the current popular quip to alleviate the demands of answering with any astute argumentative substance. Very popular politically now. And culturally it's a crutch for social media and media in general. No doubt it gets used regularly in Q Anon circles. Where fantasy is the reality. It ties in neatly with Group Think, the phenomena prone to influencing larger portions of disciplines of thought and theories popular with professions in academia and in the world at large. This is what Bill Mitchell lays out with his latest blog entry, Memorial Day, (USA) May 31 2021. He's an Aussie though, so it's a working day for him.

http://bilbo.economicoutlook.net/blog/?p=47579

You don't need to believe in cancel culture when you know for damn sure. Your being jacked with.
Re: Modern Monetary Theory [message #93928 is a reply to message #93843] Wed, 16 June 2021 08:54 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
The rhetoric popular just about now is inflation. It's being weaponized for the usual political score card. And it highlights too the inane lack of creativity in the mainstream macro economic sphere of thinking. They just haul out their typical points of reference that don't add up the larger scheme of things. Which is why our economic realm is a platitude of ineffectiveness. Billy Bob Mitchell makes it short and sweet for us laymen to reason with. But if you tune into him and colleague Randy Wray, speaking to a Brazilian group of economists in this podcast. You can get a sense of their astute knowledge in their development of the MMT theory they have been working on for decades. They are speaking about a realistic future. The mainstream economists are stuck in a rut we need to get out of. A future of the same is not appealing.
http://bilbo.economicoutlook.net/blog/?p=47678

Finanças Funcionais: um outro modo de pensar a política fiscal
Barring knowing Portuguese, Bill and Randy begin @ 10:52
https://www.youtube.com/watch?v=R3llTgYlk_o

Re: Modern Monetary Theory [message #93956 is a reply to message #93928] Mon, 21 June 2021 08:07 Go to previous messageGo to next message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
What is the most common reaction to alternatives to the status quo with our economic foundation. Whatever the proposal, is usually determined to be radical, incentive crushing and outright socialism. Leading us down the road to centralized government dictating everything in our lives. MMT is as a alternate realization of the way our money supply is used. But becomes cast the same way. Too radical, too controversial to the conventional thinking to give any merit to. However. MMT is not constrained to political allegiances. It's neither democrat or republican. It's an understanding of the reality of our economic realm and how certain dogma's held dear to conventional economic thinking are not in touch with reality and what capabilities are inherent with a sovereign governments money supply. Take this as an example of what proposals that MMT promotes to whether or not it's aligned specifically to one of our two ineffective political parties.
http://www.levyinstitute.org/pubs/pn_21_3.pdf
This should be very appealing to conservative ideologue. No corporate taxes. None. The rub though is taxing capital gains. The billionaire class may object to that. But then, what argument could be constructed to sustain wealth inequality as it is now. Are we to assume that people making their fortunes without lifting a finger are justifiable?
Re: Modern Monetary Theory [message #94022 is a reply to message #93956] Wed, 14 July 2021 12:25 Go to previous messageGo to previous message
Rusty is currently offline  Rusty
Messages: 666
Registered: May 2018
Location: Kansas City Missouri
Illuminati (1st Degree)
A longish segment with call-in Q&A in the latter half. Here Michael Hudson describes the financialized apparatus and it's method of operation. And it's effect on the United States and world economy. And why China is doing what we did in the 19th and first half of the twentieth century, only for us to abandon our economy to the wolves of wall street. Economic history isn't taught any longer for this reason.

https://michael-hudson.com/2021/07/living-with-price-above-value/
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