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Ignored for Years, a Radical Economic Theory Is Gaining Converts

Critter7r said:
Your rambling is about the same as calling me an idiot for standing in the rain and saying it is raining when the expert meterologist on TV is saying it's going to be sunny. His expertise in the subject matter doesnt override reality.
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The reality is that MMT is not accepted by the huge majority of economists. That's the reality and you few here refuse to accept that.
 
Moderate Right said:
The reality is that MMT is not accepted by the huge majority of economists. That's the reality and you few here refuse to accept that.
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The reality is that the mechanics of MMT is how reality operates. That there are economists that don't agree with policies set forth by supporters of MMT is another discussion.
 
JP Hochbaum said:
Ignored for Years, a Radical Economic Theory Is Gaining Converts - Bloomberg Business
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Here's the thing....

If you can mine more gold or drill for more oil why wouldn't you? The only reason not to would be that if you flood the market with more than you have demand for the value of it will drop and you won't be able to sell it for a reasonable price. But so long as there is demand for more, and you can get more it always makes more sense to do it. Now with gold and oil there is a limited supply. There's also a cost to produce it so if you can't sell for more than production cost you should stop producing. With money though there's really no limit to how much can exist. There's also no real production cost. So as long as the demand remains high enough to prevent inflation why not print it? If demand starts to drop or inflation starts to become a problem you can always destroy some of that money to counter act that problem.

Libertarians and other right wing nuts have been predicting inflation for years now. Where is it? They sky doesn't appear close to falling so why are we still listening to them?
 
Critter7r said:
The reality is that the mechanics of MMT is how reality operates. That there are economists that don't agree with policies set forth by supporters of MMT is another discussion.
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Supply Side Economics is the mechanics of how reality operates. Do you agree with that? The reality is that all of these economic theories are just explanations of "how things work" so it is a bogus argument to say that MMT is not an economic theory at all but merely an explanation of how things work.
 
Moderate Right said:
Supply Side Economics is the mechanics of how reality operates. Do you agree with that?
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no.

The reality is that all of these economic theories are just explanations of "how things work" so it is a bogus argument to say that MMT is not an economic theory at all but merely an explanation of how things work.
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A theory is an explanation of how things work. And MMT describes how fiat money is created.

Calling SSE a "theory" is incorrect, because SSE is a series of arguments in favor of specific policies aimed at business investment and expansion, and not an explanation of how our fiat money system actually works.
 
MrWonka said:
Libertarians and other right wing nuts have been predicting inflation for years now. Where is it? They sky doesn't appear close to falling so why are we still listening to them?
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We listen to them because they support capitalism which has a far far better record than libsocialism, although many of them, but not Bernanke, were wrong about inflation coming from the huge expansion of the Fed's balance sheet in the wake of the recent housing crisis.
 
James972 said:
We listen to them because they support capitalism which has a far far better record than libsocialism,
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No matter how many times you repeat that nonsense it's still nonsense. Democrats are in fact capitalists. They are just capable of recognizing that the free market has it's limits. Even Bernie Sanders who calls himself socialist is really a regulatory capitalist by and large.
 
MrWonka said:
Even Bernie Sanders who calls himself socialist is really a regulatory capitalist by and large.
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why do you say "even Bernie" as if he's an outsider. He's about half the Democratic Party. He honeymooned in the USSR and wanted libsocialist govt to own major American industries. Don't forget Obama had 3 communist parents and voted to left of Benie and that our liberals spied for Stalin!! Isn't that right comrade!


Norman Thomas quotes:

The American people will never knowingly adopt Socialism. But under the name of 'liberalism' they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.Norman Thomas quotes: Error
The American people will never knowingly adopt Socialism. But under the name of 'liberalism' they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.
 
MrWonka said:
Democrats are in fact capitalists.
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if so they would have supported capitalist heath care to reduce prices by 80% rather that fascist Obamacare to raise prices and inefficiency. 1+1=2
 
James972 said:
if so they would have supported capitalist heath care to reduce prices by 80% rather that fascist Obamacare to raise prices and inefficiency. 1+1=2
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Actually they did support capitalist health care. Obamacare was in fact originally written by republicans as an alternative to a single payer plan. Private health insurers still exist and compete in a market, private hospitals still exist and compete for patients. There is really nothing about Obamacare that is not capitalist at all.
 
James972 said:
why do you say "even Bernie" as if he's an outsider. He's about half the Democratic Party.
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I'm not calling him an outsider. I chose him because he uses the word socialist to describe himself even though it doesn't accurately describe him.
 
MrWonka said:
I'm not calling him an outsider. I chose him because he uses the word socialist to describe himself even though it doesn't accurately describe him.
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he's 10 times smarter than you, knows how to describe himself, is half the Democratic party, wants govt to own major industries, and honeymooned in the USSR, and his party spied for Stalin!
 
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