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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I've noticed this is a common retort to arguments of this nature
"You don't understand 'true MMT', therefore your argument is invalid"
Regardless of how you perceive MMT, doesn't change the fact that non-CPI inflation is insidious
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no, this is pretty straight forward. MMT proponents don't even like QE, so equating QE policies with MMT just doesn't make sense
so this is not some true scotsman fallacy, it's essential to understand what MMT is actually positing
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I'm confused, don't QE and MMT both point in the same direction? I agree they're not the same thing, but also think that both would effectively increase prices vs USD
no they dont. i would strongly recommend reading anything written by a MMT economist that discusses QE.
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the problem is that you're conflating an increase in the reserve base with money printing because you're treating the govt debt the Fed is using those reserves to buy as somehow 'not-money' when that's incorrect.
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The MMT view on QE is that it's largely useless. That it constitutes an asset swap (reserves for treasuries, both of which are government liabilities), without ultimately changing the public or private sector's financial position.
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Yep. And 1) when it comes to putting downward pressure on the yield curve it's less effective than just announcing yield curve targets, and 2) when it comes to providing liquidity its less effective than standing facilities/discount window a la Minsky.
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it's a common misconception. MMT is primarily just an accurate description of the fiat system (focused on monetary sovereigns) -- there is though also a "prescriptive" part of MMT where theres lots of debates about policy recommendations (not always with a consensus)
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Think your thread was great anyway even if u dis that mishap
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