An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Mike yes keep it up! Ignorance is one thing. We were all ignorant at one time. But a closed mind is the revealing element of this crowd which, to your point, is what is disturbing and dabgerous.
They are rallying to save their sacred cow.Slay their sacred cow!
Without vision, the people perish: but he that keeps the law (abides by nature) happy is he.I am not surprised by the reactions following Mike’s article. Because of the basics.Human beings move from ‘revelation’ (expansion of consciousness) to ‘revelation’ (aka vision) and the general sequence is, ‘vision’ is handed on to the intelligentsia, who then formulate it in concepts and pass them on to the masses. Unfortunately, a lot of the vision, if it is ‘law’ gets lost along the way.Tim Gallwey’s ‘Inner Game of Tennis’ is a good exemplar of the problem: - “The outer game is played on an external arena to overcome external obstacles to reach an external goal. The inner game takes place within the mind of the player and is played against such obstacles as fear, self-doubt, lapses in focus, and limiting concepts or assumptions. The inner game is played to overcome the self-imposed obstacles that prevent an individual or team from accessing their full potential”. Mike’s tuition seems to follow similar lines in trading.But the basics are more fundamental. ‘Thinking’ is not what people assume it to be. Learning the multiplication tables in school is not thinking; neither is learning social prejudices and conditioning. The mind is conditioned to a world-view with very little real thought involved; just acceptance. The cranium is opened up and a world-view poured right in. The mind is also highly coloured with associated emotions, and if people really like to believe Govt. debt is real and that little bubble is threatened, all of the emotional steam is let loose along with the concepts that bind it together. This tendency of mind to emotionalise everything in a matrix of concepts is called ‘kama-manas’ in the Ageless Wisdom. It is a heaving sea of prejudice, concepts, and emotion, not really susceptible to ‘logic’. Logic is when the Self back and behind of the mind, gains enough control over the chitta (mind) to begin to force it to formulate a sequence of thoughts that have a logical connection to one another, and to the external reality. It’s like polishing a misty window in order to see clearly out, the logic being a structure that holds the mist at bay. To see things ‘as they are’. My point is, most people do not have the mental development to actually ‘think things through’ for themselves. This includes topically, a lot of the academia, and especially, economists.As this ‘vision’ develops, in the same way that intellect supersedes but is inclusive of instinctual mind (which drops below the threshold of consciousness) direct vision begins to hold sway and is inclusive of the logical faculty.In my view, the Intelligence (Self) back and behind of the mind does not begin to make its presence really felt until the mind begins to formulate the age-old questions as a reality that must be answered: viz - who am I, why am I here, what should I do, what will happen to me (?) Until then, the chitta is just a conditioned mass. Logic precedes this as a ‘stage’, overlapped by others.So, the most powerful thing to do would be to flesh out the vision of what the bursting of the ‘Govt. Debt bubble’ might achieve for people (which I think is absent in the MMT literature) and the conceptual pattern that the academics might weave, backed up by clear logic, to translate it to the masses. The human creative process is Ideal (vision ~ purpose) >> Ideas (plan) >> Icon (built economy, faithful to the purpose and vision etc.).
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