Modern Monetary Theory

Discussion in 'Markets & Economies' started by mmm....shiney!, Sep 14, 2019.

  1. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    2,049
    Likes Received:
    1,497
    Trophy Points:
    113
    Lots of words but no plan haha. It's only a year late for most. Sounds promising.
     
  2. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,623
    Likes Received:
    1,904
    Trophy Points:
    113
    Location:
    Sydney
    mmm....shiney! likes this.
  3. Mill3d

    Mill3d Member

    Joined:
    Aug 8, 2020
    Messages:
    82
    Likes Received:
    33
    Trophy Points:
    18
    The problem at hand is 100% parasite action

    We’ll end this when we generally agree to expel parasites taking the fruits of our labour
     
  4. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,083
    Likes Received:
    2,198
    Trophy Points:
    113
    Location:
    Melbourne
    And by parasites you mean....?
     
    mmm....shiney! likes this.
  5. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

    Joined:
    Jul 21, 2015
    Messages:
    2,489
    Likes Received:
    602
    Trophy Points:
    113
    Location:
    New South Wales
     
    Mill3d likes this.
  6. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    20,671
    Likes Received:
    3,652
    Trophy Points:
    113
    Location:
    昆士蘭
    The Trump administration appears to be deliberately sabotaging stimulus efforts in order to make it more difficult for the Biden administration to respond effectively to the economic crisis in the US when it eventually assumes office.

    https://www.washingtonpost.com/business/2020/11/19/emergency-lending-programs-fed-treasury/

    I would have thought that the Trump administration would be in a caretaker mode rather than setting policy decisions this late into his term of office.
     
  7. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,623
    Likes Received:
    1,904
    Trophy Points:
    113
    Location:
    Sydney
    The democrats blocked stimulus when Trump "wanted" to give it to the people, now the republicans will block stimulus when Biden "wants" to give it to the people. But Wall Street always gets their stimulus. :)
     
    66rounds and mmm....shiney! like this.
  8. Mill3d

    Mill3d Member

    Joined:
    Aug 8, 2020
    Messages:
    82
    Likes Received:
    33
    Trophy Points:
    18
    MMT can be summarised as oligarchy controls the definition of money

    Whatever pretence of democracy is done now

    This Western civilisations tenet is now officially subjugated
     
  9. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    20,671
    Likes Received:
    3,652
    Trophy Points:
    113
    Location:
    昆士蘭
    Well there's a summary of MMT I've never come across before.
     
  10. Mill3d

    Mill3d Member

    Joined:
    Aug 8, 2020
    Messages:
    82
    Likes Received:
    33
    Trophy Points:
    18
    Fair enough
    I don’t see any summary more fitting
     
  11. Mill3d

    Mill3d Member

    Joined:
    Aug 8, 2020
    Messages:
    82
    Likes Received:
    33
    Trophy Points:
    18
    MMT is akin to 56 genders
     
  12. Mill3d

    Mill3d Member

    Joined:
    Aug 8, 2020
    Messages:
    82
    Likes Received:
    33
    Trophy Points:
    18
    It is printing up a fiction of money to meet ‘demand’ comparable to the fictional demands of identity politics
     
    mmm....shiney! likes this.
  13. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    20,671
    Likes Received:
    3,652
    Trophy Points:
    113
    Location:
    昆士蘭
    :D

    Well I guess that depends upon whether you think housing, or weed eradication, or health care or good roads are "fictional demands" or not. :p
     
  14. Mill3d

    Mill3d Member

    Joined:
    Aug 8, 2020
    Messages:
    82
    Likes Received:
    33
    Trophy Points:
    18
    You can print money to meet demand for all the things

    The spotlight is on who prints and the nature of the printed money instrument

    That matter is not theorem, more fact
     
  15. Mill3d

    Mill3d Member

    Joined:
    Aug 8, 2020
    Messages:
    82
    Likes Received:
    33
    Trophy Points:
    18
    This election has demonstrated amply that democracy is dead

    Banana democracy and banana money will come forth
     
  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    2,840
    Likes Received:
    1,556
    Trophy Points:
    113
    Location:
    Singapore
    It's not the end of democracy but the end of pacifism. Think about it, if Trump steps down, where else will the anger be directed at?
     
  17. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    20,671
    Likes Received:
    3,652
    Trophy Points:
    113
    Location:
    昆士蘭
    Absolutely correct.

    Only governments can print money. It's what governments do with that money that is critical.

    There's always crypto if you want to opt out of the monopoly fiat system.
     
  18. Markco2

    Markco2 Active Member Silver Stacker

    Joined:
    Mar 30, 2020
    Messages:
    166
    Likes Received:
    229
    Trophy Points:
    43
    Location:
    Melbourne - (Covid-19 Place to be)
    Question:

    Considering money is no object when it comes to lending and that we have the QE to Infinity if necessary, why is it that the US offers a 30 year fixed interest loan on mortgages and yet no Aussie lender will do a 30 year fixed interest loan here? The longest is 15 years.

    Perhaps Banks here think at some future point in time we will have significant inflation.
    I am betting that it will happen sooner rather than later.

    Cheers Markco2
     
  19. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    20,671
    Likes Received:
    3,652
    Trophy Points:
    113
    Location:
    昆士蘭
    I can't answer your question regarding mortgages, but banks are constrained by the capacity and willingness of borrowers. No demand for bank loans = no money creation. Demand for loans without the capacity to meet the repayments = no money creation. CB's can do everything in their power to provide the conditions that encourage lending but at the end of the day if the consumer doesn't want to borrow money or the banks don't want to lend then very little new money will enter the system - unless the government injects money into the private sector when it spends.

    From a Reddit place:

    https://www.reddit.com/r/CasuallyEx...h?utm_source=share&utm_medium=web2x&context=3

    As far as inflation goes, I don't think any banker can predict that at a point in time in the future a period of sustained inflation will kick in. And fixed rates are now lower than variable rates and I'm trying to get my head around why.

    None of that is at all helpful @Markco2 I know and probably has nothing to do with what you asked.

    Sometimes I just like to hear my own voice.

    Or the 'tap', 'tap', 'tap' of keystrokes.
     
    Markco2 likes this.
  20. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    9,761
    Likes Received:
    2,451
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    quote
    My book “Super Imperialism” was about how the United States has gained a free lunch by establishing the dollar as international reserve currency by replacing gold. I also showed that the U.S. balance of payments deficit is almost entirely military related to support its 800 bases around the world. Ending the gold-exchange standard in 1971 created a situation in which the excess U.S. dollars thrown of by the U.S. payments deficit end up in foreign central banks. https://michael-hudson.com/2020/01/...MNIejYSsyL_QJXwS6Z3GW6lFYRc_Vrgrg44s56CrXiDYY
     

Share This Page