Tuesday, April 24, 2012

Joe Firestone — The Insanity Isn't the Deficit Spending; It's Claiming That the Gov's Budget Is Like A Household's

Read it at Daily Kos | Money and Public Purpose
The Insanity Isn't the Deficit Spending; It's Claiming That the Gov's Budget Is Like A Household's
by Joe (Letsgetitdone) Firestone

Repeat after me: The issuer of a sovereign currency is not a currency user and does not have to fund itself from revenue or borrow to finance itself, unlike currency users that must obtain the currency ultimately from the issuer as the sole provider.


Matt Franko said...

"All of our dollars come from the authority of the Government to spend, and, in the act of spending to create dollars."

Many of these insane morons exhibit a big problem with acknowledging this authority.

"1 Let every soul be subject to the superior authorities, for there is no authority except under God.... so that he who is resisting an authority has withstood God's mandate." Rom 13

And on the govt side, the morons who work SO HARD at getting elected, upon being seated in the positions of authority, immediately surrender the authority that they have just finished working so hard to obtain: "We're out of money."

They become usurpers and subversive to what should be righteous authority.


Anonymous said...

Matt, what do you make of current conservative movements and their distorting of Christ's words?

I think they are nihilists disguised as religious people.

Matt Franko said...


Sadly, many dont take the time to actually read and seek to understand the original Greek Scriptures imo.

Much of their view is based on many false teachings and mistranslations out there... "hell" for one (talk about nihilism!)

I'm sorry to say (very sorry) that Christendom is also sometimes a "moron rich environment"...


Greg said...

Sometimes a moron rich environment? How about MOST of the time.

Matt Franko said...

OK... probably most of the time.... ;)

Matt Franko said...

But I would add that they are not economists and economic policy makers by trade, they are theologians.... so I might cut them some slack, even though all of what is the MMT paradigm is congruent with the Hebrew and Greek Scriptures imo....


Letsgetitdone said...

Hi folks, Good discussions of this one at: http://www.dailykos.com/story/2012/04/23/1085874/-The-Insanity-Isn-t-the-Deficit-Spending-It-s-Claiming-That-the-Gov-s-Budget-Is-Like-A-Household-s



Lots of stuff to comment on. One jerk even brought up Mankiw as an authority. So, every time Mankiw's name came up in my reply I linked to a different critical article on Mankiw.