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The US is a monetarily sovereign nation with a free floating non convertible fiat currency and can never go broke. Once folks begin to realize this fact, then the establishment's grip on how they use austerity and artificial scarcity to keep us at each other's throats will be loosened,and out neoliberal oppressors will have take an entire seat👍
Looking for fellow MMT'ers...plus whoever else that loves one another
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geekout
I'm not an "MMTer" but I appreciate the educational work they do. I think it's good to know how money is created - but without a political push for social welfare, it's meaningless. We could use MMT to make life easier, or we could use MMT to feed new cash into cryptocurrency, or we could use MMT to fund war, or we could use MMT to create new forms of debt peonage.
The way money was created to bail banks out (in the US), was basically a way to rescue banks, and make us more dependent on them. When we don't have an economic crisis to justify bailouts, we have wars to increase war spending. These horrible ways to use money are also "MMT", unfortunately.
Hi, Thank you for your comment. May I just explain the #MMT already is.
MMT is a description of how fiat operates in all fiat using nations in the world. MMT started coming into use in 1933,and then even more so when Nixon took us off of the gold standard. Our currency is not pegged to anything but it's backed by real resources such as land,labor and raw materials. There are no shortages so therefore the US can spend $1.9 trillion overnight. So if and when you get the $1400 just enjoy your fiat because it's not costing you a penny. It's your benefit of living in a monetarily sovereign nation. Stay safe
by Angie; ; Report
Oh and yes funding war is all about enriching weapons manufacturers and related entities. Imperialism has to go. All these corrupt neoliberal politicians need to be voted out.
by Angie; ; Report
We're on the same side here.
I just can't get with the MMT "movement" online, where MMTers assume everyone else doesn't know what's up.
by geekout; ; Report