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Thread: Modern Monetary Theory

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    Modern Monetary Theory

    Modern Monetary Theory

    This is the economic theory that A-OC and others use to justify debt spending. The article does a good job at debunking the theory. Essentially it advocates that money has no intrinsic value therefore debt has little meaning. Read why at the link.

    You may not have heard about the fringe concept of Modern Monetary Theory (MMT), but you can expect that you'll hear a lot more about it in the future as Democrats pretend the theory supports the plausibility of fiscally outrageous policy proposals like the Green New Deal.

    The greatest public strength of the theory is that you don't have to understand much about economics to embrace it. Like socialism, it's anything but a new idea, but it's somehow hip for our growing number of underemployed liberal arts majors to subscribe to it and feel intellectually superior for doing so.


    MMT, you see, requires that you eschew any realistic understanding of money, which is easiest to do for those who've yet to, or have failed to, earn substantial amounts of it in a free market.


    Most everyday people can simply accept that money, or currency, has a specific value tied to it. If it did not, you wouldn't go to work every day in order to exchange your labor for an agreed upon sum of money. The restaurateur down the street would not feed you in exchange for money at an agreed upon price if money didn't have a specific value. Neither of you feels that your efforts are simply charity meant to feed the government leviathan, which determines what your money is worth, do you?


    It's really that simple, and this is where MMT fails on its most fundamental proposition. Money has a going market value that we recognize every single day, and it is tied to a marketplace.
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    Ethereal's Avatar Senior Member
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    The only person I ever encountered who subscribed to MMT was completely batshit crazy.

    I'm not saying that everyone who subscribes to MMT is like that, but this particular nutjob's attraction to MMT was driven almost entirely by MMT's totally fantastical interpretation of money. Indeed, to describe such wild ideas as "Modern Monetary Theory" is to insult modernity, money, and theory.
    Power always thinks it has a great soul, and vast views, beyond the comprehension of the weak. And that it is doing God service when it is violating all His laws.
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    Quote Originally Posted by Peter1469 View Post
    Modern Monetary Theory

    This is the economic theory that A-OC and others use to justify debt spending. The article does a good job at debunking the theory. Essentially it advocates that money has no intrinsic value therefore debt has little meaning. Read why at the link.
    I don't know how a supposed educated and sane person could advocate this economic theory.

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    Quote Originally Posted by Tahuyaman View Post
    I don't know how a supposed educated and sane person could advocate this economic theory.
    Idealism is not logical. It's a waste of time to try to reason with idealists since, like fanatics, they are almost pure emotion and very little logic.


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    Quote Originally Posted by Tahuyaman View Post
    I don't know how a supposed educated and sane person could advocate this economic theory.
    Hope and change.
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    Quote Originally Posted by Peter1469 View Post
    Modern Monetary Theory

    This is the economic theory that A-OC and others use to justify debt spending. The article does a good job at debunking the theory. Essentially it advocates that money has no intrinsic value therefore debt has little meaning. Read why at the link.
    Of course it has no value in of itself, a piece of paper with debt added to it before it is even spent. So, it is worth less after it is inflated to be worth at least its very own debt.

    So the Egyptians forged it.

    Barter & trade, or else become a debt slave to debt that does not even exist.

    Debt to owe something that never belonged to them, for the Congress prints.

    Death arrived all in one day to a seriously illegal is financial extortion racket.
    Plant farms and animal sanctuaries with just compensation: Genesis 1:29-30, 2-3, Lev. 24:18-22, Psalm 50, Isaiah 1, 11:6-9, 65, 66, Daniel 1, Hosea 2:18, Revelation 20-22.

    Creation of horses: Zechariah 6:1-8, 14:20. Wild Horses, burros persecuted, parted out in violation of Public Law 92-195:
    https://twitter.com/WildHorseEdu

    Jesus was a Vegetarian: https://www.youtube.com/watch?v=Dx6J6jh1Dzo

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