Ancestors

Toot

Written by 𝓼𝓮𝓻𝓪𝓹𝓪𝓽𝓱【ツ】☮(📍🇬🇧) on 2024-12-06 at 19:01

MMT (Modern Monetary Theory)

Essentially says:

1. The government can print money to spend and give it into circulation.

2. The government can tax to take money out of circulation

The goal would be to achieve stable low inflation.

It doesnt solve any problems though and we have plenty.

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Descendants

Written by 𝓼𝓮𝓻𝓪𝓹𝓪𝓽𝓱【ツ】☮(📍🇬🇧) on 2024-12-06 at 19:02

This technically works and has never been done by governments. Debt and inflation is routinely to high and most ppl spending evrything to just pay rent and food and never dream of affording anything big, essentially diminishing their voice of co-steering the economy away.

It also doesnt change the facts that banks, VCs and investment banks, especially since 2008 have money printers too and those are running hot all the time.

https://www.reuters.com/markets/global-debt-surges-past-320-trillion-risk-appetite-returns-iif-2024-12-03

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Written by 𝓼𝓮𝓻𝓪𝓹𝓪𝓽𝓱【ツ】☮(📍🇬🇧) on 2024-12-06 at 19:05

Banks create means of payments when issuing loans to their capitalist friends and noone else.

Loans so large they can pay the salaries of the rest of us and are also too big to fail anyway.

Ending capitalism means end8ng all money printers for everyone.

If MMT was ever to be used for real, it shpuld be by giving everyone a basic unconditional income and increasing it .... if thats not done, its just rich capitalists and corrupt authoritarian politicians lining their pockets.

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