tag:blogger.com,1999:blog-2761684730989137546.post3371765647103824821..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Brad DeLong — I would not have called MMT "nonsense economics".mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-36168141114144014222019-02-22T13:46:00.120-05:002019-02-22T13:46:00.120-05:00For beginners, the 1 essential point is:
1. EKH i...For beginners, the 1 essential point is:<br /><br />1. EKH is a troll.S400https://www.blogger.com/profile/01282349400341912187noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-52028071275156443992019-02-22T04:49:03.797-05:002019-02-22T04:49:03.797-05:00MMT for beginners
Comment on Bradford DeLong on ‘I...MMT for beginners<br />Comment on Bradford DeLong on ‘I would not have called MMT “nonsense economics”.’<br /><br />For beginners, the 10 essential points are:<br /><br />1. MMT is fake science.<br />2. The foundational MMT sectoral balances equation is provably false.<br />3. MMTers are too stupid for the elementary math that underlies macroeconomics.<br />4. Because the foundations are false, one can safely forget the rest.<br />5. The correct macroeconomic Profit Law entails Public Deficit = Private Profit.<br />6. Therefore, the MMT policy of permanent deficit-spending/money-creation is a permanent free lunch for the Oligarchy.<br />7. The lethal effect of MMT policy is NOT on inflation but on distribution.<br />8. Fabulous financial wealth is the mirror image of fabulous public debt ($22 trillion).<br />9. MMT policy is ultimately NOT for the benefit of WeThePeople.<br />10. MMT is political agenda pushing for the Oligarchy in a scientific/social bluff package.#1<br /><br />Egmont Kakarot-Handtke<br /><br />#1 For the full-spectrum refutation see cross-references MMT<br />http://axecorg.blogspot.de/2017/07/mmt-cross-references.htmlAXEC / E.K-Hhttps://www.blogger.com/profile/10402274109039114416noreply@blogger.com