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Thread: Three pitfalls of Bidenomics

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    Chris's Avatar Senior Member
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    Three pitfalls of Bidenomics

    Three pitfalls of Bidenomics, with a focus on Modern Monetary Theory.

    ...Although Bidenomics is not easily explained, it seems to be predicated on three key pillars.

    First, reverse the Trump administration’s crowning achievement of energy independence....

    Second, Bidenomics is about increasing government dependence....

    The third and probably most perilous aspect of Bidenomics is the embrace of Modern Monetary Theory.

    Boiled down to its most simple terms, Modern Monetary Theory claims the federal government can literally print money to no end. It also claims, wrongly, that inflation can be micromanaged by all-knowing bureaucrats, which it cannot.

    Although the Biden administration has not instituted Modern Monetary Theory in its full form (yet), it has definitely nibbled at its edges. To date, Biden has signed a $2 trillion Modern Monetary Theory-style COVID-19 “relief” bill. And the administration has proposed two more mega spending bills, the American Jobs Plan and the American Families Plan, which total $4 trillion.

    So far, Biden’s embrace of Modern Monetary Theory-esque policies has sent inflation soaring....
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    RMNIXON (05-23-2021)

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    Recent OP that tells us Biden is going in the reverse of a recovery that will hit hard next year if not sooner.

    I hope young people enjoy inflation pressures not seen since the Democrat Run 1970's!



    Career Politician Joe Biden has Business Advice (thepoliticalforums.com)

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    Chris (05-23-2021)

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    I have posted a lot about MMT. It is going to be a disaster. So prepare.

    If I am wrong, then the government needs to stop all taxes and just print money.
    ΜOΛΩΝ ΛΑΒΕ


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    Quote Originally Posted by Peter1469 View Post
    I have posted a lot about MMT. It is going to be a disaster. So prepare.

    If I am wrong, then the government needs to stop all taxes and just print money.
    Right, if they can just print money why then the need to tax?
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    Peter1469 (05-23-2021)

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    Quote Originally Posted by Chris View Post
    Right, if they can just print money why then the need to tax?
    The threat of the IRS's ability to take everything you own or will ever own is a strong threat. The government doesn't want to lose that ability to keep you in line.

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