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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
    2. Deficit Owls  🦉‏ @DeficitOwls Jan 2
      Replying to @RoKhanna @paulkrugman @StephanieKelton

      pic.twitter.com/mi4dasA5Os

      3 replies . 8 retweets 31 likes
    3. 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
      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

      1:05 pm - 2 Jan 2019
      • 1 Retweet
      • 17 Likes
      • Still Resisting 💪🏿💪🏾💪🏽💪🏼💪🏻💪 Ellen #MMT #LearnMMT  🌹🌻🦉🇺🇸 Curtis Umstead A spectre is haunting the USA Ken Buxton 🌹 🌏 ♻️ ✌🏼 Ⓥ 💙 Bill Jackson Jr J. Buja Bob Malone
      2 replies . 1 retweet 17 likes
        1. New conversation
        2. 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
        3. 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
        4. 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
        5. 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
        6. 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
        7. 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
        8. Ryan  💭 🤑 💰 ✌🏻 ☮️‏ @RyanLiberty92 Jan 3
          Replying to @DeficitOwls @DavidMilliken and

          That just means you’re propagandized by government (and gov-friendly) economists. Have you ever been educated on Austrian business cycle theory? What’s you’re critiques on it?

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

          My critique on it is that it's incoherent nonsense. The biggest problem in my mind is that when most people today talk about "malinvestment," they're talking about something totally different than the original writers of ABCT were, rendering the whole theory invalid. But, even

          1 reply . 0 retweets 0 likes
        10. 4 more replies
        1. New conversation
        2. David Milliken‏ @DavidMilliken Jan 2
          Replying to @DeficitOwls @RoKhanna and

          China and Japan have been dumping treasuries all last year. If China our biggest buyer decides to really step up the pace of dumping and isn’t buying, interest rates could spike, dollar weakens. Plus Fed is unwinding it’s QE balance sheet so they won’t want to buy debt either

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

          First of all, foreign nations selling Treasuries doesn't cause interest rates to increase. That would only be plausible if they were selling the Treasuries but then hanging on to the dollars. That's not what's happening. They sell Treasuries for dollars, then sell the dollars for

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

          some other currency. The new holder of the dollars then buys Treasuries with them. So, there could be effects on the exchange rate, but there's no effect on interest rates. In any case, under current law, there's no possibility of Treasury being unable to sell bonds. Primary

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

          Dealers are obligated to buy the bonds if nobody else does.

          1 reply . 0 retweets 1 like
        6. David Milliken‏ @DavidMilliken Jan 2
          Replying to @DeficitOwls @RoKhanna and

          No one said treasury would be unable to sell but interest rates would most likely have to go up to make them an attractable investment. Higher interest rates would be not great for people looking to purchase homes or companies looking for capex loans etc

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

          I'd say the interest rates primarily come from arbitrage on expectations of what the Fed is going to do. If those rates get too out of line with those expectations, then there's money to be made.

          1 reply . 0 retweets 1 like
        8. David Milliken‏ @DavidMilliken Jan 2
          Replying to @DeficitOwls @RoKhanna and

          Money to be made by people who can perform arbitrage. I’m more concerned about the average citizen and their govt saddling them with more debt and higher rates

          1 reply . 0 retweets 0 likes
        9. 1 more reply

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