Philip Pilkington turns the page on MMT?
https://twitter.com/philippilk/status/1772538175564447823
The US, like the UK, can’t go broke in their own currency. But if foreign lenders don’t buy into net bond issuance, USD will have to adjust to shrink the trade deficit. This will put upward pressure on inflation and is what the UK faced under Truss. Will Trump get Trussed?… pic.twitter.com/fDuYrC3Gzx
— Philip Pilkington (@philippilk) March 26, 2024
“ But the meta observation is that much like the UK, the US is basically broke. After four years of drunken-sailor spending ”
ReplyDelete😂😂😂😂😂
Absolute idiot.
ReplyDeleteThey ALL get away with it because MMT'rs just created an open goal by not applying policies to it apart from the job guarentee.
Neil Wilson is the only person who has even attempted it and already answered this issue using an economic policy.
The Only Bonds We Need Are Granny Bonds
https://new-wayland.com/blog/the-only-bonds-we-need-are-granny-bonds/
MMT economists sit by and are proud to say MMT is only an accurate description of the monetary system. The rest is up to you.
I read Randy Wray book - How MMT can save America. There was absolutely nothing of substance in it. A complete waste of time. How many more books is he going to write describing monetary operations.
It is if they are scared to write policy. When a Manifesto is long over due.Why of course other people get free hits like this garbage. Blythe can prance around protecting his own self interest.
They desperately need to start describing what a MMT country would look like and front run these critiques using actual policies.
ReplyDeleteIt's not as if they don't know what they are going to be. They are the same ones over and over again said a hundred different ways.
What's interesting is there has been an American tour of the film " finding the money" the Australian tour has just finished abscess very well received. We made inroads at Warwick university and the conference is in the UK this year at Leeds University. Scotland is showing the film at their annual economics event in Dundee this month.
It seems to me the mainstream are just circling the wagons again. Trying to put out fires. Regurgitating the same old shit. As we start moving across their territory.
We need actual policies and front run this crap. Show that the critiques are non starters from the get go.
If we had an official policy in place of The Only Bonds We Need Are Granny Bonds, this is how you do it and this is what the country would like afterwards.
Then they wouldn't get a free hit like this. It would be a non starter from the get go.
The guy says the US and UK can't go broke in their own currency, then in the same breath, talks about "creditors" need to buy bonds. Unbelievable stupidity.
ReplyDeleteArt Degree paradox Mike… they are trained to do that…
ReplyDeletePhil is in the business of selling articles to news outlets.
ReplyDeleteTherefore he writes what they want to hear, interspersed with some seditious lines.
Just because somebody writes something doesn't mean they believe it.
They can believe both Neil… hypocrisy is “under-decide” they can’t make decisions…
ReplyDeleteIt’s Christendumb that teaches they are lying…