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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
    4. 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
    5. 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
      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

      2:30 pm - 2 Jan 2019
      • 1 Retweet
      • 14 Likes
      • 🌹 🌏 ♻️ ✌🏼 Ⓥ 💙 Bill Jackson Jr J. Buja Is Mexico paying for Trump's vanity wall/fence ? #Medicare4All 🍞🌹🐴 CarolineMaybe Eric Harm Magin D5vid Chalmers
      4 replies . 1 retweet 14 likes
        1. New conversation
        2. 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
        3. 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
        4. 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
        5. 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
        6. 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
        7. 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
        8. Deficit Owls  🦉‏ @DeficitOwls Jan 3
          Replying to @DeficitOwls @RyanLiberty92 and

          in the original context, the logic doesn't work. More saving doesn't indicate consumer time preference; nor does more saving lead to lower interest rates; therefore interest rates cannot indicate time preference; businesses do not use interest rates to gauge time preference; and

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

          empirically, businesses pay very little attention to the interest rate when making investment decisions. Put that all together, ABCT has no basis in reality.

          1 reply . 0 retweets 0 likes
        10. 2 more replies
        1. Deficit Owls  🦉‏ @DeficitOwls Jan 2
          Replying to @DeficitOwls @DavidMilliken and

          reduces other spending or raises taxes. That only happens if Congress votes for it, which, by and large, they do not do. Larger debt service just means the gov is spending more - which in our current economy, is probably a good thing.

          0 replies . 1 retweet 9 likes
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        1. New conversation
        2. Diane Fitzpatrick‏ @DianeBFitzpatri Jan 4
          Replying to @DeficitOwls @DavidMilliken and

          Gov is not the issuer of currency, the fed reserve is. The fed res is a private bank, not part of the fed gov in no way. Every $ is borrowed and must be paid back with interest. Futile pyramid scheme

          1 reply . 0 retweets 0 likes
        3. Deficit Owls  🦉‏ @DeficitOwls 18h18 hours ago
          Replying to @DianeBFitzpatri @DavidMilliken and

          It's not really appropriate to describe the Fed as "private." The government appoints its leaders, and all of its profits get delivered to the US Treasury. No other "private" company fits that description.

          1 reply . 0 retweets 0 likes
        4. Diane Fitzpatrick‏ @DianeBFitzpatri 17h17 hours ago
          Replying to @DeficitOwls @DavidMilliken and

          I stand by my comment, the entire monetary system and it’s appointments are an illusion. It’s family owned

          0 replies . 0 retweets 0 likes
        5. End of conversation
        1. New conversation
        2. David Milliken‏ @DavidMilliken Jan 2
          Replying to @DeficitOwls @RoKhanna and

          I’m talking about both. If you don’t pay for things by cutting or raising taxes, you issue debt. Something has to purchase that sovereign debt whether it’s a country or private like a pension fund. So if rates have to rise to make that debt more attractive to buyers then they....

          1 reply . 0 retweets 0 likes
        3. 21st Century FDR‏ @21stCenturyFDR Jan 2
          Replying to @DavidMilliken @DeficitOwls and

          This is incorrect. Congress could order the Treasury to stop issuing bonds tomorrow if they wanted to. Debt would only rise by the interest on previously held Treasuries until all phased out. You are stuck in a fixed concept of a monetary system. US is monetarily sovereign.

          0 replies . 0 retweets 1 like
        4. End of conversation

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