Tuesday, November 13, 2012

geerussell's "5 stages of grasping Currency Operations"

geerussell said...

For me [grasping currency operations] was like the five stages of grief.

Denial: MMT is crazy and wrong.

Anger: MMT is just a plot to push (insert political agenda).

Bargaining: OK, they make some good points but they overlook interest rates or China or (insert doomsday scenario).

Depression: MMT has it right and there's no hope of changing the policymakers who are torturing the economy for kicks.

Acceptance: Talk about MMT as the operational reality it is and get used to people thinking I'm crazy.


Great summary of the 5 stages of currency operations, geerussell!

You really should start Deficit Terrorists Anonymous (DTsA), and make your 5 points the association prayer.

ps: How about also seeking the courage to reject faux or more Credentials? :)


Clonal said...


Who, what are you referring to? Your links don't point to any Russell?

modernmoney said...

It's a lot like what I wrote on facebook recently:

Putting this new information into your head is a lot like grieving for a loved one. Whilst alive the loved one is alive and you know where to put them in the narrative of your life but when they pass on, you are an absolute mess and go through the stages of grief before settling on a new narrative for that loved one. People make sense of things in context and that's where the Debunking Handbook comes in handy http://www.skepticalscience.com/docs/Debunking_Handbook.pdf you have to have a new narrative to replace the previously accepted facts.

peterc said...

@ geerussell. Love it. :)

Matt Franko said...

In my case I never went thru that as I was never "attached" to any other academe of economics (non-sectarian-economist)... so to me it was 100% good news from step 1...

now (for me) is the "bad news" that there are apparently so few of us that can readily accept this truth/reality... and meanwhile we may have to share the planet with all of these morons looks like for quite a while, this is that which can often cause me "grief"... but you just have to find a way to suck it up and keep going...


Chewitup said...

One day at a time, Matt.

Roger Erickson said...

look in the comments at the link given. Don't know any other way to link to geerussell.

geerussell said...


The date stamp on a comment contains the permalink to it. Here's the link to the comment in question.