They described Stephenie Kelton as left-wing economist. She's lovely too!
Episode 866: Modern Monetary Theory
Some ideas seem too good to be true. Like this one. It comes from a 13-year-old listener named Amy. She says she knows the government has trouble finding enough money to pay for stuff like schools and hospitals. And she wondered if it has considered just printing more money. She asked us: Can the government do that? Just make more money to pay for stuff?
Fiscal hawks say, 'no way!' We'd have crazy inflation! But there's a group of economists that says, 'yes, we can create way more money, without disaster. And pay for lots of stuff we want.' They are the proponents of what's called Modern Monetary Theory, or MMT. Their ideas are getting out there, they have the memes to prove it.
Today, we try to understand a school of thought that is flipping economic theory on its head. If you buy it, the whole idea of government spending, taxes, the nature of money changes, and, according to the theory, all we have to do is just open our eyes. It's a bit like staring at those optical illusions: First you see the faces, then, suddenly it's the goblet.
How Stephanie Kelton brain-washes a lovely young English girl
ReplyDeleteComment on Planet Money on ‘Episode 866: Modern Monetary Theory’
Marketing folks are not very innovative. One of the oldest sales gimmicks is baby-kissing and, true enough, it still works. Babies/children are an unfailing Pavlovian trigger for an emotion-addicted audience.
The very characteristic of science is that it never appeals to emotions but to knowledge/logic/facts. Political agenda pushers, on the other hand, avoid knowledge/logic/facts like the plague and appeal straightforwardly to emotions. So do fraudsters.
MMT is a scientific fraud and meanwhile, it has reached the lowest level: “This is really nice, it’s a podcast where a lovely young English girl asks about MMT and Stephanie Kelton and the Planet Money team answer her question. It’s for beginners, but what lovely way to chill for half an hour. It was delightful! They described Stephanie Kelton as left-wing economist. She’s lovely too!”
So much for the psycho framing. Now comes the fraud: “Some ideas seem too good to be true. Like this one. It comes from a 13-year-old listener named Amy. She says she knows the government has trouble finding enough money to pay for stuff like schools and hospitals. And she wondered if it has considered just printing more money. She asked us: Can the government do that? Just make more money to pay for stuff? Fiscal hawks say, ‘no way!’ We’d have crazy inflation! But there’s a group of economists that says, ‘yes, we can create way more money, without disaster. And pay for lots of stuff we want.’ They are the proponents of what’s called Modern Monetary Theory, or MMT. Their ideas are getting out there, they have the memes to prove it.”
Let’s move on from Barbie land to reality. MMT is proto-scientific garbage. MMT is refuted on all counts. MMTers are stupid/corrupt agenda pushers for the Oligarchy.#3, #4, #5 The emotional vomit-proof for non-economists is in the ridiculous Amy story.
Egmont Kakarot-Handtke
#1 35 Sweet And Hilarious Photos Of Presidents With Babies
https://www.huffpost.com/entry/photos-presidents-babies_n_5b6db7bde4b0ae32af97d076?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAL6JtosQeyzRklOgZBDBit8V9v3KAKvfhp9m1b97m-QhLHSiWvxU75ig7fp6Qpzis0-_WyRXpEuj9_fc3omlnZXz7N1rSh3zcVfS7rqVZniftYLGofiU6JBNov3XfnmwLBWNpe6Jt3xBjHaw6IUX9ZPV1xPugbhg_CJNDhsLK_kY
#2 Is MMT good for WeThePeople or for the Oligarchy?
https://axecorg.blogspot.com/2019/07/is-mmt-good-for-wethepeople-or-for.html
#3 Stephanie Kelton’s legendary Plain-Sight-Ink-Trick
https://axecorg.blogspot.com/2019/01/stephanie-keltons-legendary-plain-sight.html
#4 Down with idiocy!
https://axecorg.blogspot.com/2017/12/down-with-idiocy.html
#5 Stephanie Kelton sells children into slavery
https://axecorg.blogspot.com/2019/06/stephanie-kelton-sells-children-into.html
We will give it a whirl, Egmont, and then we will see.
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