David_N
DP Veteran
- Joined
- Sep 26, 2015
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- 6,562
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- The United States
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- Liberal
We can never default. It's not "printing" either, it's all keystrokes.
We can never default. It's not "printing" either, it's all keystrokes.
The idea that continues to destroy the US and World economy, there will be a Day that house of cards all collapses, good luck when that happens.
Well, at least we know it's true.
"MMT" is simply a label that a blogger I believe came up with. MMT describes reality, you can disagree with policy implications all you want.Typical liberal BS, finding a 23 second sound bite to prove their nutty theories. I guess this means that Greenspan is now an MMT'r?
"MMT" is simply a label that a blogger I believe came up with. MMT describes reality, you can disagree with policy implications all you want.
Personally, I think Greenspan lost all of his credibility with his hands off approach to dealing with the banks and the asinine assumption that real estate values would go up even further than they were at the height of the bubble.
"I made a mistake in presuming that the self-interest of organisations, specifically banks and others, was such that they were best capable of protecting their own shareholders."
So when he talks about modern takes on monetary policy, we should all weigh carefully his prior takes on an Ayn Rand kind of attitude about the economy.
Yeah, greenspan's approach helped prove that the "hands off" nonsense doesn't work in reality.“Now, you might ask the question, well, the Fed is going out and buying 2 trillion dollars of securities – how did we pay for that? And the answer is that we paid for those securities by crediting the bank accounts of the people who sold them to us, and those accounts, at the banks, showed up as reserves that the banks would hold with the Fed. So the Fed is a bank for the banks. Banks can hold deposit accounts with the Fed, essentially, and those are called reserve accounts. And so as the purchases of securities occurred, the way we paid for them was basically by increasing the amount of reserves that banks had in their accounts with the Fed.
We can never default. It's not "printing" either, it's all keystrokes.
iam in the process of buying a new house and i need 1/2 million to cover the cost, alan print me up some money since it is no problem.
True. Of course, it does not always work that easily. And he should remember that the money he printed has caused two full fledged bubbles that have burst and we are still trying to avoid the third wave.
"MMT" is simply a label that a blogger I believe came up with. MMT describes reality, you can disagree with policy implications all you want.
Who is the monopoly issuer of the currency?
"MMT" is simply a label that a blogger I believe came up with. MMT describes reality, you can disagree with policy implications all you want.
It certainly describes the way liberals are increasingly wishing reality might be.
Why are people on the left so ****ing dishonest! ?
This is reality.
1.) The government spends by crediting accounts (For the purpose of this discussion, the fed/treasury are the 'government.')
2.) The government taxes by debiting accounts
3.) Deficit spending adds dollars to the private sector
4.) A surplus drains dollars.
5.) The government can never fail to make payments denominated in its own currency.
Huh? Why don't you point out what is false?
iam in the process of buying a new house and i need 1/2 million to cover the cost, alan print me up some money since it is no problem.
You're using a MONETARY theory to push FISCAL iniatives
Its DISHONEST and typifies the kind of crap you people are known for
He's referring to the debt of the country, not your personal debt.
He's also not saying that there aren't inherent problems with creating more currency.
You have to separate the fact that the US cannot default on its debt from the idea that anyone thinks its a good idea to print trillions and drop them from a helicopter.
It's not just Greenspan though, this is really how it works.
Where Did the Federal Reserve Get All that Money? - New Economic PerspectivesNew Economic Perspectives
“Now, you might ask the question, well, the Fed is going out and buying 2 trillion dollars of securities – how did we pay for that? And the answer is that we paid for those securities by crediting the bank accounts of the people who sold them to us, and those accounts, at the banks, showed up as reserves that the banks would hold with the Fed. So the Fed is a bank for the banks. Banks can hold deposit accounts with the Fed, essentially, and those are called reserve accounts. And so as the purchases of securities occurred, the way we paid for them was basically by increasing the amount of reserves that banks had in their accounts with the Fed.
Yeah, greenspan's approach helped prove that the "hands off" nonsense doesn't work in reality.