The carpenter can’t run out of inches
The stadium can’t run out of points
The airline can’t run out of FF miles
And the USA can’t run out of dollars
#GetRealhttps://twitter.com/StephanieKelton/status/1121068364959506432 …
This is Zimbabwean economics. Yes, a country can't run out of its currency, but it can run out of purchasing power, as the currency decreases in value in proportion to the amount issued.
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She should visit Argentina, we are masters of money printing, she would love it
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Isn't it shocking that most people do not understand the concept of "purchasing power"?
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You have to suffer it to understand the concept... here in
#Argentina for example
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I'm afraid MMT is going to stay with us for a long time; it feeds into politicians' perverse incentives and gives them a patina of legitimacy.
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The quantity of money can be stipulated; the quantity of wealth cannot.
End of conversation
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And how many countries gave a da, about the Zimbabwean dollar apart from Zimbabwe? Also, which currency did they switch to after torching their own?
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Not if you control a bigger currency: the threat to invade and annihilate any country that asks you to repay your debts. America's currency is not dollars but mutually assured destruction.
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Glad to hear we’re at the “threaten annihilation on those who refuse to supply us for free” part of the international trade discourse
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