MMT is a fraud
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The government is a currency issuer, not a household. In our monetary system, the national debt is the base money supply. If you're interested in learning more about this stuff, let I'll direct you here:https://docs.google.com/document/d/1Enemac_eB1qOatsujMRa1efQj6lEZCS7K4xfCgipUxk/edit …
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Productivity is what matters. My hunch is automation will hit a tipping point and productivity will boost and all this talk of deficits will largely disappear.
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The "unlimited money" idea is actually being pushed by seriously credentialed economists, at places like Harvard. I'm not endorsing it, but this isn't tinfoil-hat stuff. Here's a video: https://youtu.be/Fp6pUsJhKZg
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Let us not confuse money with wealth. They are not the same thing.
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Yep, it’s a balance.
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Hamilton was right that having a national debt is a blessing, not a curse, but ONLY if it's not excessive. https://constitutioncenter.org/blog/how-alexander-hamilton-would-view-the-debt-ceiling …. Adding debt NOT to make productive investments, but to fund current consumption, clearly is excessive. It makes millennials pay for Boomers' party.
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Apparently, it depends on which party is incurring it.
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Debt is good. Get cheap services and default thru inflation at the end. If other countries do not buy it, we got the biggest gun to enforce it.
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Debt will never be paid back in a “present value” sense. That’s why the rich work for assets while the poor work for fiat currency.
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