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MMT is yet another theory championed by macroeconomic ignoramuses who do not understand how the real world works and propose theory after theory that makes the world a happy place without having to deal with all that 'free market' awfulness.
It's Moocher's Paradise.
And it will never work in the long run.
Why? Because fiat money is only worth what people think it is worth. And if people think it is worthless, it IS worthless.
The only reason fiat currencies have lasted so long is a) they were starting from nothing...it takes a long time for an entire marketplace to completely collapse. And b) almost every country did it at the same time. If everyone's currency is garbage, then they all can look valuable.
We are at the beginning of the closing stage now (or the end of the middle stage). The central banks are taking over the economies...they have to as governments have run out of ammunition (almost).
Japan is a good example of a strong economy that is slowly being destroyed by a fiat currencies and central bank intervention.
It could take a decade...it could take two or even more.
But eventually a major currency will lose people's respect. And then it will start to snowball (IMO).
This will all end EXTREMELY badly, IMO.
And when it does, if I am still alive, I am probably going to make a ton of money on it (just like I did - relatively speaking - during the housing crash. Though I lost a ton during the dot.com crash...I had not learned yet)
MMT is what happens when people who do not understand real world macroeconomics...think they do.
You cannot learn about macroeconomics from a textbook or a professor...you HAVE to learn about it in the real world.
Because economics is not just about numbers...it's mostly about people and emotions.
It's Moocher's Paradise.
And it will never work in the long run.
Why? Because fiat money is only worth what people think it is worth. And if people think it is worthless, it IS worthless.
The only reason fiat currencies have lasted so long is a) they were starting from nothing...it takes a long time for an entire marketplace to completely collapse. And b) almost every country did it at the same time. If everyone's currency is garbage, then they all can look valuable.
We are at the beginning of the closing stage now (or the end of the middle stage). The central banks are taking over the economies...they have to as governments have run out of ammunition (almost).
Japan is a good example of a strong economy that is slowly being destroyed by a fiat currencies and central bank intervention.
It could take a decade...it could take two or even more.
But eventually a major currency will lose people's respect. And then it will start to snowball (IMO).
This will all end EXTREMELY badly, IMO.
And when it does, if I am still alive, I am probably going to make a ton of money on it (just like I did - relatively speaking - during the housing crash. Though I lost a ton during the dot.com crash...I had not learned yet)
MMT is what happens when people who do not understand real world macroeconomics...think they do.
You cannot learn about macroeconomics from a textbook or a professor...you HAVE to learn about it in the real world.
Because economics is not just about numbers...it's mostly about people and emotions.
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