Mortdooley wrote on Aug 12
th, 2022 at 9:26pm:
So once again you circle back to the communist manifesto.
Nonsense, though I am stating the necessity to manage neoliberal free markets, to save the global economy from imminent collapse.
http://bilbo.economicoutlook.net/blog/?m=20220811"Radical change is needed and mainstream economics will not be part of the solution."Thursday, August 11, 2022
Quote:This government isn't borrowing from private institutions, it is creating dollars out of thin air and using the future generations as collateral.
That's just plain wrong. Currency-issuing governments
couldbe authorized to fund the public sector without taxing or borrowing from the private sector, but they aren't. They have to buy or sell bonds to private financiers.
https://www.ozpolitic.com/forum/YaBB.pl?num=1645944963/225(#236) Questions 1,2 and 3, show so-called "money printing" is always conducted via private financiers, regardless of whether the government is buying or selling bonds.
Quote:As the dollar buys less and less it is the people who live on fixed incomes who suffer the most.
The unemployed or those on below poverty wages always suffer the most. Those on low fixed incomes are the next in line for pain....
Quote:Why is it not clear to you that the government creates the problem.
It IS clear to me that neoliberal governments with their central bank monetary orthodoxy ..."borrowing money which must be repaid".... are causing the problem.
Quote:The economy was going well until pedo-peter assumed the big desk and started undoing our prosperity. Apparently the wrong people prospered while Trump was President, that would be the Middle Class.
Workers' wages have stagnated for 3 decades....and poverty remains entrenched, while inequality is soaring.
Quote:The whole cause is run away government spending with an unlimited creation of dollars.
Decent wages for teachers and nurses etc is not "run-away spending".
Quote:This so called plague was about a lot of things but public health wasn't one of them. I understand that many if not most people live in the "here and now" with no clue or concern about the future. I've never known a person who was down and out that couldn't decide to pull themselves up if they would just make the effort.
The plague was real and killed over a million in the US.
Fact is the government could have supported locked-down workers..... for free, without issuing "debt which must be repaid".
There should never have been any lock-downs. It didn't save lives and in many cases it cost lives. People afraid to go out to continue medical treatment for existing conditions was one big example.
Quote:Even when hospitals were running beyond capacity, and bodies exceeded morgue capacity....?
[quote]The January 6th PROTESTS were a direct result of an election that defied reality and had no effect on the economy. The pervert in the White House on January 20th did that. The battle in America is between the people who want less government in their lives but provides basic services and those who want a one world government. I have found some western cultures population want firm rules to spare them from the annoyance of other peoples freedoms rather than restricting government in their lives.
US political hyperpartisanship caused the riots (er...protests, certainly not 'peaceful'..). Any desire for "one world government " is not the cause; lack of "an economy that works for all" (Bernie Sanders) IS the problem.
Quote:I doubt your Author is doing to sell many books.
A like-minded economist was a best-selling author on the NYT list: prof. Stephanie Kelton:
'The Deficit Myth'.
Quote:People don't know how much control they have over their own lives until they take it!
People were dying like flies at the start of covid; external circumstance often intrude into personal actions.