Thursday, October 25, 2018

John Lounsbury — Documentary Of The Week: But How Will We Pay For It?

On Stephanie Kelton and MMT.
Documentary Of The Week: But How Will We Pay For It?
John Lounsbury

See also at econintersect

Even The Statisticians Are Highly Dubious Of Applying Their Methods In Economics!
Philip Pilkington

1 comment:

Konrad said...

“Our nation’s finances are a blistering topic.”

Blistering bullshit.

Pundits, professors, and politicians focus on the trivial national debt in order to distract the peasants from crippling private debt.

“Democrats blame Republicans for ‘blowing up the deficit’ with tax cuts, while Republicans insist that programs such as Social Security and Medicare are the real drivers of our fiscal mess.”

There is no “fiscal mess,” unless we are talking about the US Air Force paying $1,280 for each coffee cup, for example. And that’s only one example among millions. The Air Force spent $326,000 on coffee cups it kept breaking.

Some people think that money should be “backed by” gold. Let’s have money “backed by” those coffee cups, or “backed” by those infamous $10,000 toilet seats the Air Force bought.

The US Air Force has 312 operational aircraft squadrons, and is demanding another 74 squadrons.

And no one ever asks, “How will you pay for it?”

“You guys are biased against war.”
“Everyone here is unqualified.”
“Get yer munnie back!”
“Art major!”
“Art major!”