tag:blogger.com,1999:blog-2761684730989137546.post3063247130035322989..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Stephanie Kelton - Presidential Lecture Series: Stephanie Keltonmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger35125tag:blogger.com,1999:blog-2761684730989137546.post-73509062655934455042018-10-22T08:50:41.745-04:002018-10-22T08:50:41.745-04:00Matt Franco, Andrew Anderson, Ralph Musgrave
Lest...Matt Franco, Andrew Anderson, Ralph Musgrave<br /><br />Lest the crucial point doesn’t get lost: Stephanie Kelton, Bill Mitchell, and the other MMT loudspeakers push ― intentionally or unintentionally doesn’t matter ― the agenda of Wall Street#1 and you are ― intentionally or unintentionally doesn’t matter ― obscuring this fact with your waffling about the Job Guarantee. Therefore, you are ― intentionally or unintentionally doesn’t matter ― complicit in political fraud.<br /><br />Egmont Kakarot-Handtke<br /><br />#1 For details of the big picture see cross-references MMT<br />http://axecorg.blogspot.de/2017/07/mmt-cross-references.htmlAXEC / E.K-Hhttps://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-1885588916744072922018-10-20T18:06:57.269-04:002018-10-20T18:06:57.269-04:00I sympathise with Konrad's jaundiced view of J...I sympathise with Konrad's jaundiced view of JG. To be more accurate, I think it's an idea with possibilities, but unfortunately the Levy lot pushing it (Tcherneva, Randy Wray etc ) are clueless. Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-27761332276661256212018-10-20T17:18:42.854-04:002018-10-20T17:18:42.854-04:00“Increasing disemployed”
Yo, employment is increa...“Increasing disemployed”<br /><br />Yo, employment is increasing...<br /><br /><br />That said at some point Probably need both a JG and a UBI/disability program.... expanded govt pension system... some other things...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-49271000919411932382018-10-20T12:54:35.449-04:002018-10-20T12:54:35.449-04:00. it’s not that complicated.... Franko
Short term...<i>. it’s not that complicated....</i> Franko<br /><br />Short term "solutions" often aren't.<br /><br />But what do you intend to do about the increasing number of those dis-employed with what is, in essence, the public's credit but for private gain?<br /><br />JG fan are you?Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-75595593416898302202018-10-20T12:51:31.902-04:002018-10-20T12:51:31.902-04:00If you have the correct training...If you have the correct training...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-1561375629267478632018-10-20T12:51:08.761-04:002018-10-20T12:51:08.761-04:00AA there is nothing glorious about any of this... ...AA there is nothing glorious about any of this... it’s not that complicated....Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-2462647317991136202018-10-20T12:50:17.496-04:002018-10-20T12:50:17.496-04:00I want whatever works....I want whatever works....Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-65743692227729151552018-10-20T12:28:55.422-04:002018-10-20T12:28:55.422-04:00and MMT opposed it along with Pocahontas... Frank...<i>and MMT opposed it along with Pocahontas... </i> Franko<br /><br />Well, it does solve a problem I pointed out which is how to keep the banks from blowing another bubble when deficit spending causes the economy to recover. Clever ...<br /><br />But like I've said 100% private banks with 100% voluntary depositors should be as free as other businesses. <br /><br />But you don't want 100% private banks with 100% voluntary depositors, do you Franko?Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-28795618023303822142018-10-20T12:17:17.596-04:002018-10-20T12:17:17.596-04:00Tell it to the MMT people double A.... that mod is...Tell it to the MMT people double A.... that mod is not in their policy prescriptions... <br /><br />Bank reform passed earlier this year tried to at least make a small adjustment there at the SLR and MMT opposed it along with Pocahontas...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-55103269222010751662018-10-20T11:03:02.224-04:002018-10-20T11:03:02.224-04:00If they were ever successful and fully imposed the...<i>If they were ever successful and fully imposed their policies Wall Street would suffer as Reserve Assets would surge without Treasury issuance and the banks would all become insolvent again....</i> Franko<br /><br />Not that I should ever wish to help the government-privileged usury cartel but it's clear that "Reserve Assets" should be excluded when calculating the Supplemental Leverage Ratio (SLR) since those are OBJECTIVELY risk-free and thus not subject to self-serving risk assessment by the banks which the SLR is meant to counter.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-24688639265509721602018-10-20T10:38:31.157-04:002018-10-20T10:38:31.157-04:00Positive yields on USTs are a relic of the Gold St...Positive yields on USTs are a relic of the Gold Standard when the US was NOT monetarily sovereign while on it.<br /><br />So how about we abolish that relic, eh? And that would include abolishing IOR (Interest on Reserves) too.<br /><br />Likewise, out current two-tier money system whereby fiat use is largely confined to the banks, etc. is also a relic of the Gold Standard.<br /><br />So how about we abolish that relic too?<br /><br />The problem with the MMT folks is that that they wish to keep some relics of the Gold Standard while advocating the increased use of inexpensive fiat.<br /><br />But new wine (inexpensive fiat) requires new wine skins (the elimination of all privileges for the banks,etc). (Matthew 9:14-17), haven't they heard?Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-74850623258306839962018-10-20T08:27:03.928-04:002018-10-20T08:27:03.928-04:00“Bill Mitchell and Stephanie Kelton as fake scient...“Bill Mitchell and Stephanie Kelton as fake scientists and agents of Wall Street.”<br /><br />That’s absurd... they hate Wall Street...<br /><br />If they were ever successful and fully imposed their policies Wall Street would suffer as Reserve Assets would surge without Treasury issuance and the banks would all become insolvent again....<br /><br />They are ignorant of much wrt current regulatory operations but certainly not shills for Wall Street...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-41747246618603289402018-10-20T07:01:24.508-04:002018-10-20T07:01:24.508-04:00Very busy these days: Wall Street’s agents
Comment...Very busy these days: Wall Street’s agents<br />Comment on Kaivey on ‘Presidential Lecture Series: Stephanie Kelton’<br /><br />Matt Franko cites Bill Mitchell: “I mean by that, that while MMT provides a clear lens for viewing the system, to advance specific policy platforms, one has impose a value system (an ideology) onto that understanding.” and resumes “They are not politically neutral... they are Democrat/Labour allied....”<br /><br />NO!<br /><br />MMT is NOT a clear scientific lens but an obscure political smoke-screen. Science tells everyone that Public Deficit = Private Profit and this follows straight from the TRUE sectoral balances equation (X−M)+(G−T)+(I−Sm)−(Qm−Yd)=0 which compares to the FALSE MMT balances equation (X−M)+(G−T)+(I−S)=0 which obviously LACKS/HIDES macroeconomic profit.<br /><br />The scientific content of MMT is ZERO. Looking at the economy through the MMT lens is as enlightening as looking through the toilet seat.<br /><br />Of course, MMT is NOT politically neutral. Just the opposite. MMT is plain political agenda pushing, and it is NOT for the cause of WeThePeople but against it. MMT is an attempt to capture the genuine grassroots movements in the US and the UK. Under the banner of Progressives, MMTers pretend to overtake the traditional Left and to be the true Friends-of-the-People.#1…#7<br /><br />Bill Mitchell resumed his recent meeting with John McDonnell in London: “I said that the social democratic parties had let the progressive side of politics down in recent years and that it was good to see this oppositional left capacity coming back into British politics to give people an effective choice.”<br /><br />Isn’t it a bit curious that an academic from Australia tours around the world and lectures the Labour Party? It is NOT curious at all if one sees Bill Mitchell and Stephanie Kelton as fake scientists and agents of Wall Street.<br /><br />Bloomberg hypes Warren Mosler as a “hedge fund guy Lefties can love” and Tom Hickey sells MMT on this blog as modern Marxism. This is more than naive because Alternative History has in the meantime arrived at the conclusion that “Karl Marx is, and always was, a double agent working for bankers and industrialists.”#8<br /><br />Economics has finally to get rid of 200+ years of political BS. The scientific and historical fact of the matter is: deficit-spending/money-creation is and has always been a program for the self-alimentation of the Oligarchy.#9<br /><br />Bill Mitchell reports: “JMD [John McDonnell] began the meeting by asking me ‘What are we getting right?’” My guess is that Bill Mitchell told him that Labour has still some way to go to meet Wall Street’s strategic goals.<br /><br />Egmont Kakarot-Handtke<br /><br />#1 MMT: agenda-pushing and money-making for the Oligarchy<br />https://axecorg.blogspot.com/2018/10/mmt-agenda-pushing-and-money-making-for.html<br /><br />#2 MMT and the promotion of Wall Street socialism<br />https://axecorg.blogspot.com/2017/11/mmt-and-promotion-of-wall-street.html<br /><br />#3 MMT, Warren Mosler, and the little helpers from Wall Street and Academia<br />https://axecorg.blogspot.com/2018/10/mmt-warren-mosler-and-little-helpers.html<br /><br />#4 The Kelton-Fraud<br />https://axecorg.blogspot.com/2018/07/the-kelton-fraud.html<br /><br />#5 MMT, Bill Mitchell, and the lack of basic scientific integrity<br />https://axecorg.blogspot.com/2018/08/mmt-bill-mitchell-and-lack-of-basic.html<br /><br />#6 MMTers are NOT Friends-of-the-People<br />https://axecorg.blogspot.com/2018/08/hope-you-get-it-mmters-friends-of-people.html<br /><br />#7 For the full-spectrum refutation see cross-references MMT<br />http://axecorg.blogspot.de/2017/07/mmt-cross-references.html<br /><br />#8 Reddit<br />https://www.reddit.com/r/AlternativeHistory/comments/4lv8jx/premise_karl_marx_is_and_always_was_a_double/<br /><br />#9 MMT = proto-scientific junk + deception of the 99-percenters<br />https://axecorg.blogspot.com/2018/01/mmt-proto-scientific-junk-deception-of.htmlAXEC / E.K-Hhttps://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-35039616507898830192018-10-20T03:32:57.175-04:002018-10-20T03:32:57.175-04:00MMT is neutral. Republicans can use it for tax cut...MMT is neutral. Republicans can use it for tax cuts for the rich and military spending, as they do, but it really shines when the left apply it. <br /><br />The government can deficit spend to boost the economy and the GDP will grow. Then more people will be employed and there will also be more successful entrepreneurs earning good money as well. Then, when the economy is approaching full potential there will be lots of people earning decent money and so the tax burden would be low as it is spread out more. Kaiveyhttps://www.blogger.com/profile/04195639305785321786noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-87488914531990551782018-10-19T22:30:00.016-04:002018-10-19T22:30:00.016-04:00Republicans and leading Democrats are equally neol...Republicans and leading Democrats are equally neoliberal, whereas MMT at its core (without silly things like the "job guarantee") is non-partisan. <br /><br />Basic MMT does not explain what <b>should</b> happen, but what actually <b>does</b> happen.<br /><br />"None of you are qualified! <br />Get yer munnie back! <br />I'm a genius!<br />Art major!"<br /><br /><b><i>--WHACK!</i></b>Konradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-51700131176160397202018-10-19T20:19:22.290-04:002018-10-19T20:19:22.290-04:00Here’s Bill recently:
“I mean by that, that while...Here’s Bill recently:<br /><br />“I mean by that, that while MMT provides a clear lens for viewing the system, to advance specific policy platforms, one has impose a value system (an ideology) onto that understanding.”<br /><br />http://bilbo.economicoutlook.net/blog/?p=40035<br /><br />They are not politically neutral... they are Democrat/Labour allied....<br />Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-18450151481617442272018-10-19T15:25:13.826-04:002018-10-19T15:25:13.826-04:00MMT at its core is politically neutral, like the t...MMT at its core is politically neutral, like the theory of aerodynamics. Bernie Sanders asked Kelton to be an economic adviser, and she said OK. If Trump asked her to be an economic adviser, she would say okay.<br /><br />"None of you are qualified! <br />Get yer munnie back! <br />You guys are anti-war! <br />I'm a genius!<br />Art major!"<br /><br /><b><i>--WHACK!</i></b>Konradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-21139454934029272202018-10-19T14:20:09.724-04:002018-10-19T14:20:09.724-04:00And unsuccessful ones at that....And unsuccessful ones at that....Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-82471548012885009492018-10-19T14:16:28.353-04:002018-10-19T14:16:28.353-04:00These are political partisans...These are political partisans...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-67224585371665626282018-10-19T14:16:04.135-04:002018-10-19T14:16:04.135-04:00Yo, She was the economic advisor to a Democrat can...Yo, She was the economic advisor to a Democrat candidate for president???<br /><br />Bill Mitchell meets with UK Labor Party representatives.... <br /><br />????<br /><br />What more evidence do you need ????Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-34308354157072285752018-10-19T13:30:00.021-04:002018-10-19T13:30:00.021-04:00Last night I dreamed that I was not human, but a s...Last night I dreamed that I was not human, but a stupid little maggot.<br /><br />This morning I realized that I am actually a stupid little maggot dreaming that I am human.<br /><br />~ Lao-Tzu FrankoKonradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-89438102804175195612018-10-19T13:06:26.835-04:002018-10-19T13:06:26.835-04:00FRANKO™
Performing live daily demonstrations of t...<b>FRANKO™</b><br /><br />Performing live daily demonstrations of the Dunning-Kruger Effect.<br /><br />The Dunning-Kruger Effect is a cognitive bias in which unskilled individuals suffer from illusory superiority, mistakenly rating their ability much higher than it is.Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-42223798658107029412018-10-19T13:04:53.757-04:002018-10-19T13:04:53.757-04:00"Scho none of that has anything to do with ma..."Scho none of that has anything to do with material systems administration... iow those decisions are not made thru scientific methods..."<br /><br />Surely you're not telling us Matt you read some entrails to determine Stephanie Kelton's an out-of-touch die-hard Leftie? Just trying to determine your source or method of divination! Guess you aren't going to tell us!Schofieldhttps://www.blogger.com/profile/06135158699917324267noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-82775728580349711202018-10-19T12:23:19.280-04:002018-10-19T12:23:19.280-04:00Go back to playing Scrabble....
Go back to playing Scrabble....<br />Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-80616763541616558322018-10-19T12:17:44.018-04:002018-10-19T12:17:44.018-04:00None of you are qualified!
Get yer munnie back!
...None of you are qualified! <br />Get yer munnie back! <br />You guys are anti-war! <br />Art major! <br />Art major!<br />I'm a genius! <br /><br /><b><i>WHACK!!</i></b> <br />Off went its head.Konradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.com