wow, a lot to unpack here (not good, mischaracterisations of MMT)
would first and foremost highly suggest talk with someone like , , or even to better understand MMT and inflation dynamics w money supply
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mostly the problem is that seems to be looking at USD as just a token rather than understanding endogeneity of money, banking system, and the special role of central govt with fiat
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the fundamental observation - that inflation is being sponged by crypto, meme stocks, and luxury goods is not wrong.
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whenever talking about these things it really demands having a firm grasp of the nature of money. you can't treat USD like some token with a supply that gets increased. this is like, Austrian econ babble approach
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wait ok so why exactly does that analogy not work at all?
I understand there are a lot of parts to the dollar and that's only one of them, but I *do* fundamentally think that monetary policy changes impact the effective circulating USD which in turn impact USD based markets...
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check out Warren Mosler (often the easiest to read when starting out learning what MMT really is) 7 Deadly Innocent Frauds of Economic Policy
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hm that all seems intuitive and not clashing with the model in my mind that generate my tweet thread to me?
two main issues:
1) you don't define MMT (implying maybe its something like "printing money nonstop")
2) you are mixing QE (unclear impact , see Japan from early 2000 onward...) with massive deficit spending by US govt (which is HUGELY bullish airdrop style stimulus to economy)
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Mosler on QE:
moslereconomics.com/2014/05/02/qe-
What is QE? an asset swap, QE is central banks taking reserves (paying about 0) to buy other assets paying about 0 medium.com/@joshuafkon/a-
We are in Keynesian liquidity trap
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