MMT: overcoming the political divide.

Discussion in 'Economics & Trade' started by a better world, Mar 12, 2020.

  1. chris155au

    chris155au Well-Known Member

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  2. chris155au

    chris155au Well-Known Member

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    The founders, but aren't you talking about politicians who are currently in government?
     
    Last edited: Jan 22, 2021
  3. a better world

    a better world Well-Known Member

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    "It's the economy, stupid"....and the dysfunctional economic neoliberalism which doesn't work for disadvantaged groups, hence poverty amidst plenty.
     
  4. bringiton

    bringiton Well-Known Member

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    Your comment used the simple present tense, which can indicate a current habit ("I get up at six.") or a rule that is permanently true ("Dogs are loyal."). I understood your comment as using the latter sense. But even if you intended the former sense, many countries have constitutions that look as good as the US Constitution on paper (sometimes even better) but politicians that don't follow them. Politicians that adhere to the Constitution are not giving us "nothing" -- for, in Dr. Strangelove's delicious phrase, "reasons which must be all too obvious at this moment."
     
  5. chris155au

    chris155au Well-Known Member

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    So American politicians adhere to the Constitution?
     
  6. bringiton

    bringiton Well-Known Member

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    Some do their best to get the rest to adhere to it. Obviously some try to circumvent it for their own selfish motives or the benefit of their patrons. You seem to be asking questions that would be more appropriate from an elementary school student who has not yet had a first course in civics.
     
  7. chris155au

    chris155au Well-Known Member

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    The curriculum of the elementary school system teaches YOUR opinion?
     
  8. bringiton

    bringiton Well-Known Member

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    No, but it teaches basic facts of life under democratically accountable government that seem peculiarly opaque to you.
     
  9. chris155au

    chris155au Well-Known Member

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    I was simply asking for YOUR opinion.
     
  10. a better world

    a better world Well-Known Member

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    cancel
     
    Last edited: Jan 24, 2021
  11. bringiton

    bringiton Well-Known Member

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    Oh, sorry, it looked like you were just airing some puerile, "Meeza hatesa gubmint!" nonsense.
     
  12. a better world

    a better world Well-Known Member

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    Chris of course ignores the reality of poverty amidst plenty...and can't see its relationship to the hatred within the current severe political hyper-partisanship.
     
    Last edited: Jan 24, 2021
  13. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    The tech revolution coming for the Banking & Fin sectors are going to roll MMT, it is already clear how the increased fiat printing have accelerated this transfer towards cryptocurrency and decentralised finance. The MMT policies they're bringing in are going to be nothing more than a bridge.
     
    Last edited: Jan 24, 2021
  14. Esdraelon

    Esdraelon Well-Known Member Past Donor

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    ~SNIP~
    double post
     
    Last edited: Jan 24, 2021
  15. Esdraelon

    Esdraelon Well-Known Member Past Donor

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    For the tens of millions of Americans who saw the 2020 election being stolen in plain sight and with no attempt to save it by EITHER Party OR the Judiciary, I'd say the mending of fences is over. It only goes down from here. If Biden is used to accomplish the goals we've heard being mentioned, SCOTUS packing, filibuster-ending, and Senate packing through adding 2 or more new states, then America will be on course for very real, very destructive struggles in the coming months. Having one political party effectively seize control of our government WILL NEVER BE ACCEPTED...
     
  16. chris155au

    chris155au Well-Known Member

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    "Meeza hatesa?" And I'm guessing that "gubmint" is government.
     
  17. chris155au

    chris155au Well-Known Member

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    What happened?
     
  18. a better world

    a better world Well-Known Member

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    If you must know, I was going to comment that Constitutions are not 'sacred texts' which never require updating......as indeed neither is scripture "inerrant"......

    But that debate has been had elsewhere.
     
  19. a better world

    a better world Well-Known Member

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    I heard today Yellen is closely looking at crypto currency. She mentioned regulation........

    Meanwhile as government debt is spiralling out of control around the world due to covid,
    even Janet will eventually see the light....and authorize the government's treasury and central bank to create and spend money into the economy, obviating the government's need to seek funding via private banksters (as at present).
     
  20. bringiton

    bringiton Well-Known Member

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    You mean, the election whose results closely matched the predictions of all credible polling organizations....? That stolen election?
    Why do you choose to believe the transparent lies of one of the most incontinently prolific liars who ever lived?
    The Republicans already packed the SCOTUS by refusing to allow a vote on Obama's nominee for 10 months, then ramming through Trump's nominee in a few weeks, one of the most blatantly and despicably hypocritical displays in the history of the world.
    We've been seeing them for four years. Hadn't you noticed?
    Which is why the Republicans have to be deprived of the control that they seized.
     
    Last edited: Jan 25, 2021
  21. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    Regulation is only a problem when they create a different set of rules for crypto, because the banks are far more corrupt and have laundered far more money than any entity in existence....yet you don't hear these bankers uttering a single word about this,

    I'm 100% with Michael Sailor on this issue... if these bankers want to enact corrupt regulations, I do not feel morally obligated to comply

    https://ambcrypto.com/microstrategy-ceo-addresses-fud-over-tax-increase-for-bitcoin-investors/
     
  22. a better world

    a better world Well-Known Member

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    I agree the financial industry is corrupt and caused the GFC, but the issue of sovereign governments and taxation is another matter altogether.

    From your link:

    "the CEO asserted that even if somebody “holds a gun to your head” nobody, including tax authorities, can “take Bitcoin away from you.
    You can tell everyone to go f*** themselves"

    All this reveals is that Michael Saylor, CEO of MicroStrategy, has no understanding of MACRO economics.....nor any understanding of the foundation of the value of fiat currencies, which is why he (like you), falls for the hyper-inflation narrative of the Weimar Republic etc etc.

    Fact is Yellen will be making sure he pays his tax obligations.

    Interestingly, as I said, Yellen might see the light and authorize the government to create and spend its own currency, as per MMT, so she won't have to bother with Saylor's misplaced concerns re devaluation of the currency, shown in his remark:

    "If Bitcoin is [a] better store of value than bonds, stocks, real estate, gold, silver, and derivatives, and every flavor of cash"........

    "IF"
    being the operative word......how on earth anyone could come to this conclusion, after the recent 25% drop in the "price" of Bitcoin, is unfathomable.

    Back to the real world: Oxfam today has noted that since the beginning of the pandemic, the 10 wealthiest individuals in the world have increased their wealth by $700 billion, while 1 billion people have fallen back into poverty.
    Even in the 1st world, eg, poverty in the UK has increased while the wealthiest Britons have increased their wealth...without lifting a finger....

    Such is the evil of the current neoliberal free market orthodoxy ruling the Western world.

    Bill Mitchell – Modern Monetary Theory – Macroeconomic research, teaching and advocacy (economicoutlook.net)

    "IMF actions in Ecuador expose its venal motivations"

    There is clearly confusion among mainstream economists as the fractures in their paradigm are being revealed on an almost daily basis. And the more venal ideological motivations are also becoming clearer, that is, if they weren’t already completely transparent. On January 21, 2021, the World Bank published a Policy Research Working Paper – Does Central Bank Independence Increase Inequality? – which demonstrated that the way central banking has been conducted in this neoliberal era has been instrumental in the increasing income inequality that has manifested.



     
    Last edited: Jan 25, 2021
  23. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    look... it's obvious you don't know much about Michael Sailor

    about Bitcoins drop... they say if you can't handle the 20-30% drops then you don't deserve the 600% gains

    Gold price have been manipulated... and continue to be manipulated



     
    Last edited: Jan 26, 2021
  24. a better world

    a better world Well-Known Member

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    Good luck investing in the Bitcoin ponzi scheme. Where does Bitcoin get its value from?

    Meantime you have to pay your taxes in the currency of the state, ie taxes, whether required to fund governments as in our current system, or taxes to manage money supply (if necessary) to control inflation as posited in MMT.

    But you ignored the import of my post, which is that governments have to govern....whatever system is employed. Anarchy is not an option.
     
    Last edited: Jan 26, 2021
  25. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    You mean governments have to govern... whatever system the Rothchilds controlled IMF deploy.... yes I believe we are now all aware of the fake election system in the west and that our leaders govern for the 1%, the political class & not the people.... it is very clear in how they protect the banks with bail-in laws and continue down the path of ever more debt & open borders. Bitcoin does offer a hedge against these policies guaranteed to destroy individuals, small business & capitalism.
     
    Last edited: Jan 27, 2021

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