Newt's a Swinger

[piece-itpete]

So money DOES grow on trees? Something isn't right here.

Pete

[David Newman]

Originally Posted by piece-itpete

So money DOES grow on trees? Something isn't right here.

Pete

Read the Mosler book. It explains the monetary system we use. Spending (printing) and taxing (unprinting) work in conjunction with one another to control the economy.

[d-ray657]

It's worth taking a look at Newt's History of the World.

Regards,

D-Ray

[Rex E.]

Originally Posted by d-ray657

It's worth taking a look at Newt's History of the World.

Regards,

D-Ray

I'll stick to Mel Brooks', thank you

[d-ray657]

Originally Posted by Rex E.

I'll stick to Mel Brooks', thank you

He was world famous in Poland, you know.

Regards,

D-Ray

[Twodogs]

Originally Posted by David Newman

I'd say it starts with higher education still holding onto economic models from times past. I recently completed my MBA and in the process took two graduate level economics courses. In 6 course hours of economics, we spent exactly 5 minutes with a brief mention of modern monetary theory, yet anyone who tries to challenge MMT has yet to show any faults in the logic, including Keynesians and Classical, neo-classical, austrian schools of thought. The only fault they can find in the model is what they perceive to be a lack of attention to inflation while, in fact, inflation is the number one concern of MMT.

It's difficult because we have generations of economists who have made things unnecessarily complex. I think the simplicity of the model is it's greatest strength and the greatest hurdle to overcome.

Just to be clear, his ideas about how to effectively utilize are monetary system are open to debate, the part that is irrefutable is his description of our monetary system.

I don't think this answered my question Dave. Probably because I asked it poorly. If all we have to do is move decimal points on a computer, why did we have a housing bubble, credit card bubble, banks failing, etc..... I'm missing something big here. Why would we have unemployment when the government could just print money and put everyone to work (like the WPA and TVA). Why wouldn't Obama announce a month prior to the election that he had paid off China and we were completely out of debt. I've heard bits and pieces of this before, but like I say, I'm missing some important point or points.

[Twodogs]

Seriously Dave, dumb this way down. I don't have even a HS education or GED. I basically went to work full time at 16. I'm trying to get it, but I'm lost.