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DeficitOwls's profile
Deficit Owls 🦉
Deficit Owls 🦉
Deficit Owls  🦉
@DeficitOwls

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Deficit Owls  🦉

@DeficitOwls

Citizens supporting full employment and price stability. Pushing back on deficit hysterians. Modern Money Theory (MMT). @OwlReserveArmy and @ModernMoneyMeme

All fiat currency governments.
facebook.com/DeficitOwls/
Joined August 2016

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    1. Ro Khanna‏Verified account @RoKhanna Jan 2

      Ro Khanna Retweeted Warren Gunnels

      I will be voting NO on the Rules package with #PayGo. It is terrible economics. The austerians were wrong about the Great Recession and Great Depression. At some point, politicians need to learn from mistakes and read economic history. @paulkrugman @StephanieKelton @RBReichhttps://twitter.com/GunnelsWarren/status/1080318713331617792 …

      Ro Khanna added,

      Warren Gunnels @GunnelsWarren
      In order for #PayGo to go into effect, it needs to pass the House. If some 18 Dems vote no, it fails. The vote will take place on Thursday. Will enough progressives have the courage to vote no on the first roadblock to #MedicareForAll, #GreenNewDeal & #CollegeForAll? Let's see. https://twitter.com/ddayen/status/1080291053930856448 …
      648 replies . 3,225 retweets 11,499 likes
      Deficit Owls  🦉‏ @DeficitOwls Jan 2
      Replying to @RoKhanna @paulkrugman @StephanieKelton

      pic.twitter.com/mi4dasA5Os

      12:54 pm - 2 Jan 2019
      • 8 Retweets
      • 31 Likes
      • steve Paul Fagan catherine #IwillNotRelent Ellen #MMT #LearnMMT  🌹🌻🦉🇺🇸 ░#░F░r░e░e░A░s░s░a░n░g░e░ Nathaniel Sharon Keeney A spectre is haunting the USA
      3 replies . 8 retweets 31 likes
        1. New conversation
        2. David Milliken‏ @DavidMilliken Jan 2
          Replying to @DeficitOwls @RoKhanna and

          If the market has to absorb more of the debt that issued then their is less money to make other investments. Plus if China continues to dump our bonds and by less of them, who will be our biggest buyer of debt?

          1 reply . 0 retweets 2 likes
        3. Deficit Owls  🦉‏ @DeficitOwls Jan 2
          Replying to @DavidMilliken @RoKhanna and

          First, that is absolutely not true. There is no fixed supply of money for investment; banks create money for loans from thin air. Second, China doesn't just sell bonds and hold dollars instead. They sell the dollars to somebody else, then those people buy bonds with the dollars

          2 replies . 1 retweet 17 likes
        4. David Milliken‏ @DavidMilliken Jan 2
          Replying to @DeficitOwls @RoKhanna and

          Who said anything about fixed supply of money? When you issue more govt debt to pay for things there is less money to go into other investments if that debt is going to be serviced.. That doesn’t mean there is less supply money.

          1 reply . 0 retweets 1 like
        5. Deficit Owls  🦉‏ @DeficitOwls Jan 2
          Replying to @DavidMilliken @RoKhanna and

          Oh, I see, I thought you were talking about private investment, but you're talking about gov investment. That's not true either - the gov is the issuer of the currency, it can always make any size payment. Under current rules, nothing about larger debt service automatically

          4 replies . 1 retweet 14 likes
        6. David Milliken‏ @DavidMilliken Jan 2
          Replying to @DeficitOwls @RoKhanna and

          will buy the debt instead of using their money to make other investments

          2 replies . 0 retweets 1 like
        7. Deficit Owls  🦉‏ @DeficitOwls Jan 2
          Replying to @DavidMilliken @RoKhanna and

          But gov is also spending money at the same time, and that money becomes income which flows right into the coffers of pension funds and other investors.

          2 replies . 0 retweets 2 likes
        8. Ryan  💭 🤑 💰 ✌🏻 ☮️‏ @RyanLiberty92 Jan 2
          Replying to @DeficitOwls @DavidMilliken and

          Is this a parody account? I find it hard to believe you actually believe this nonsense.

          1 reply . 0 retweets 0 likes
        9. Deficit Owls  🦉‏ @DeficitOwls Jan 3
          Replying to @RyanLiberty92 @DavidMilliken and

          Wait until you find out that I'm an economics PhD student :D

          1 reply . 0 retweets 1 like
        10. 6 more replies
        1. New conversation
        2. Ryan  💭 🤑 💰 ✌🏻 ☮️‏ @RyanLiberty92 Jan 2
          Replying to @DeficitOwls @RoKhanna and

          How’d this go for Venezuela??? Technically they didn’t go broke even though people are starving on a massive scale. This is probably the dumbest thing I’ve read from one of the most evil organizations on the planet (FED).

          1 reply . 0 retweets 1 like
        3. Deficit Owls  🦉‏ @DeficitOwls Jan 3
          Replying to @RyanLiberty92 @RoKhanna and

          You've got it backwards on Venezuela. It's the starving that's causing the price increases. The biggest cause of hyperinflation isn't 'money-printing gone mad,' it's the economy collapsing: if the economy can't produce the goods and services people need, then prices skyrocket.

          1 reply . 0 retweets 1 like
        4. Ryan  💭 🤑 💰 ✌🏻 ☮️‏ @RyanLiberty92 Jan 3
          Replying to @DeficitOwls @RoKhanna and

          It’s not that suddenly their economy can’t produce anymore. That just doesn’t happen at random. Oil prices fell and since their economy was centrally planned to account for high oil prices, they went into a deep depression. /1

          2 replies . 0 retweets 0 likes
        5. Deficit Owls  🦉‏ @DeficitOwls Jan 3
          Replying to @RyanLiberty92 @RoKhanna and

          Yes, quite right. My understanding here is that the fall in oil prices led to a devaluation of the currency, which kicked off a medium-low level of inflation. The gov instituted price controls to try to fight it, but those price controls ultimately made doing business in the

          1 reply . 0 retweets 0 likes
        6. Deficit Owls  🦉‏ @DeficitOwls Jan 3
          Replying to @DeficitOwls @RyanLiberty92 and

          country unprofitable, eventually causing huge swathes of the private sector to stop producing goods and shut down, drastically curtailing the supply capacity of their economy. That created the hyperinflation. That's my point. It's not that they accidentally printed a tiny touch

          1 reply . 0 retweets 0 likes
        7. Deficit Owls  🦉‏ @DeficitOwls Jan 3
          Replying to @DeficitOwls @RyanLiberty92 and

          too much money. That's not what causes hyperinflation. It's that their economy became a catastrophe, and the currency is just following along suit. While it's *possible* that we might do something like that to ourselves in the US... it doesn't seem likely.

          0 replies . 0 retweets 0 likes
        8. End of conversation
        1. Paul Fagan‏ @paulbfagan Jan 3
          Replying to @DeficitOwls @RoKhanna and

          True! @billy_blog @DeficitOwls @paulkrugman @RBReich @delong

          0 replies . 0 retweets 0 likes
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