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Thread: The Radical Left-Wing Theory That the Government Has Unlimited Money

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    The Radical Left-Wing Theory That the Government Has Unlimited Money

    This is, well, rich.

    The Radical Left-Wing Theory That the Government Has Unlimited Money

    Tall, bearded, with gentle brown eyes, Occupy Wall Street veteran Jesse Myerson spends his days knocking on doors in the rundown neighborhoods of southern Indiana reminding voters of the enormous wealth of their country. His message, as an organizer for the progressive grassroots group Hoosier Action, is that the United States is a spectacularly rich nation and some of that wealth could, and should, be spread to the poor people of southern Indiana.

    ...He says his group’s biggest competition for the hearts and minds of poor Indianans is a white supremacist group called the Traditionalist Workers’ Party. “They’re organizing along the same lines as us—these oligarchs are being tyrannical and exploiting us and we need peace and prosperity....
    Cut, cut, got side-tracked with how white supremacists are leftists, socialists, Marxists.

    Back to the Money Grows on Trees Theory of Economics...

    Myerson isn’t bothered by the deficit: “We’re the richest country in the history of countries, in the history of riches. Of course we can afford it.” He notes no one seems to worry about the price tag when Congress increases the Pentagon budget or decides to invade a faraway country.

    His optimism about government spending is due to his exposure to Modern Monetary Theory, a school of economics that says our panic over government budget deficits is delusional, a misguided and atavistic remnant of the gold standard. MMT has become increasingly influential on the left, giving progressives like Myerson a reason to believe that a high price tag shouldn’t stop the US from instituting wide-ranging social reforms like Medicare for all.

    Modern Monetary Theory’s basic principle seems blindingly obvious: Under a fiat currency system, a government can print as much money as it likes. As long as country can mobilize the necessary real resources of labor, machinery, and raw materials, it can provide public services. Our fear of deficits, according to MMT, comes from a profound misunderstanding of the nature of money.

    ...
    This is the goal-oriented version of the religion of statism where if you can think it, then spend other people's money on it, namely our chidrens' and theirs.
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    i like it!

    printing $20 dollar bills has gotta be cheaper than borrowing them..

    after all, how much does a little piece of paper and some ink etc. cost?

    i bet its a whole lot less than 20 bucks..

    if they would just let us print our own, i bet we could bring the cost down even further!

    oh boy, oh boy,,,i'm gonna be rich!

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    Quote Originally Posted by Toober View Post
    i like it!

    printing $20 dollar bills has gotta be cheaper than borrowing them..

    after all, how much does a little piece of paper and some ink etc. cost?

    i bet its a whole lot less than 20 bucks..

    if they would just let us print our own, i bet we could bring the cost down even further!

    oh boy, oh boy,,,i'm gonna be rich!
    True dat!
    I never thought of it that way.

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    Quote Originally Posted by HawkTheSlayer View Post

    True dat!
    I never thought of it that way.
    that's because your not a professional..



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    Rich in the hoosegow!

    If the government can do it, why can't we?
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    Quote Originally Posted by Chris View Post
    Rich in the hoosegow!

    If the government can do it, why can't we?


    yea,,,they work for us, right?

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    Quote Originally Posted by Toober View Post
    [/B]

    yea,,,they work for us, right?
    It seems rather strange that the government goes to so much trouble to keep us from printing worthless money, so they can print worthless money.

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    Well, what is the government but a legalized mafia?
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    Quote Originally Posted by HawkTheSlayer View Post
    It seems rather strange that the government goes to so much trouble to keep us from printing worthless money, so they can print worthless money.
    everybody needs a hobby...

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    Of course, if everyone started printing money, and flooded the market, it would become worthless.

    Oh, wait...

    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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