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.
Pages
▼
Pages
▼
Friday, December 29, 2017
DownWithTyranny! — The Smartest Economist In America Explains What Deficits Really Mean
Who is the smartest economist in America? None other than — Stephanie Kelton.
From macroeconomic analysis follows Public Deficit = Private Profit.#1
Either Stephanie Kelton does not understand this, then she is an incompetent scientist. Or, she understands it, then she sells a social bluff package for the benefit of the one-percenters.#2
If Stephanie Kelton is the “Smartest Economist In America” one trembles to contemplate how stupid the rest is.
Egmont Kakarot-Handtke
#1 Keynes, Lerner, MMT, Trump and exploding profit https://axecorg.blogspot.de/2017/12/keynes-lerner-mmt-trump-and-exploding.html
#2 MMT: The one deadly error/fraud of Warren Mosler https://axecorg.blogspot.de/2017/11/mmt-one-deadly-errorfraud-of-warren.html
You say: “Does Kelton understand that Public Deficit = Private Profit? She said as much: “the government’s −$10 is always matched by +$10 in some other part of the economy.”
Kelton’s incompetence is in these four words “in some other part”. The macroeconomic Profit Law says unequivocally Public Deficit = Private Profit and NOT in “in some other part”.#1
Either Stephanie Kelton does not know the Profit Law, which is fundamental to ALL of economics, or she obscures it for some reason.
There is NO need to speculate about Stephanie Kelton’s ulterior motives. What has been proven is that MMT is materially and formally inconsistent, that is scientifically worthless.#2 Therefore, ALL economic policy proposals of MMTers, including Stephanie Kelton, have NO sound scientific foundations.
Contrary to the social appearance, MMT is de facto agenda-pushing for the one-percenters. MMTer, including Stephanie Kelton, are either stupid or corrupt or both.#3
Down with idiocy
ReplyDeleteComments on DownWithTyranny! on ‘The Smartest Economist In America Explains What Deficits Really Mean’
MMT: Money-making for the one-percenters
https://axecorg.blogspot.de/2017/09/mmt-money-making-for-one-percenters.html
MMT is ALWAYS a bad deal for the 99-percenters
https://axecorg.blogspot.de/2017/12/mmt-is-always-bad-deal-for-ninety-nine.html
MMT, money printing, stealth taxation, and redistribution
http://axecorg.blogspot.de/2017/11/mmt-money-printing-stealth-taxation-and.html
Egmont Kakarot-Handtke
#MMT #LearnMMT #DebunkMMT #NotDifficult #FailedScience #FakeScience #ScientificIncompetence #ProfitTheory #PrivateSectorSurplus
From macroeconomic analysis follows Public Deficit = Private Profit.#1
ReplyDeleteEither Stephanie Kelton does not understand this, then she is an incompetent scientist. Or, she understands it, then she sells a social bluff package for the benefit of the one-percenters.#2
If Stephanie Kelton is the “Smartest Economist In America” one trembles to contemplate how stupid the rest is.
Egmont Kakarot-Handtke
#1 Keynes, Lerner, MMT, Trump and exploding profit
https://axecorg.blogspot.de/2017/12/keynes-lerner-mmt-trump-and-exploding.html
#2 MMT: The one deadly error/fraud of Warren Mosler
https://axecorg.blogspot.de/2017/11/mmt-one-deadly-errorfraud-of-warren.html
Reply to Bill*
ReplyDeleteYou say: “Does Kelton understand that Public Deficit = Private Profit? She said as much: “the government’s −$10 is always matched by +$10 in some other part of the economy.”
Kelton’s incompetence is in these four words “in some other part”. The macroeconomic Profit Law says unequivocally Public Deficit = Private Profit and NOT in “in some other part”.#1
Either Stephanie Kelton does not know the Profit Law, which is fundamental to ALL of economics, or she obscures it for some reason.
There is NO need to speculate about Stephanie Kelton’s ulterior motives. What has been proven is that MMT is materially and formally inconsistent, that is scientifically worthless.#2 Therefore, ALL economic policy proposals of MMTers, including Stephanie Kelton, have NO sound scientific foundations.
Contrary to the social appearance, MMT is de facto agenda-pushing for the one-percenters. MMTer, including Stephanie Kelton, are either stupid or corrupt or both.#3
Egmont Kakarot-Handtke
* https://downwithtyranny.blogspot.de/2017/12/the-smartest-economist-in-america.html
#1 For the proof see here
https://axecorg.blogspot.de/2017/12/down-with-idiocy.html
#2 For the full-spectrum refutation of MMT see cross-references
http://axecorg.blogspot.de/2017/07/mmt-cross-references.html
#3 MMT: The one deadly error/fraud of Warren Mosler
http://axecorg.blogspot.de/2017/11/mmt-one-deadly-errorfraud-of-warren.html