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Wednesday, April 24, 2024

Stephanie Kelton - “Finding the Money” & “The Deficit Myth” | The Daily Show

This is the first attempt I've seen to explain Modern Monetary Theory to the general public since the 2008 Bush Bank Bailout. It arises now because of the increased Federal deficit spending and subsequent inflation due to the COVID-19 pandemic. 

I think it is a mistake to dumb down the Economic explanation, and it's a shame this job was left to Comedy Central and the Daily Show to educate people. If they had started by explaining that the Government creates money by buying goods and services, and that money enters the economy and is multiplied by FRACTIONAL RESERVE BANKING to increase the money supply. Then they could have gone on to explain that the new $$$$$ created do not inflate prices, or deflate the value of the dollar, as long as the work created by spending the new $$$$$ into the economy is of value equal to the spending. So, as long as government investments are good and valuable, there is no risk of inflation, as the return on investments expands the total value of the economy to reflect government spending. 

Stephanie Kelton, bestselling author of “The Deficit Myth” and professor of economics and public policy, talks to Jordan Klepper and Ronny Chieng about changing our understanding of government spending through MMT, or Modern Money Theory. She also explains how the national deficit is not a number to be fearful of, but can be put to good use, and how government finance is far more flexible than you might think. #DailyShow #StephanieKelton #Money

Wednesday, April 17, 2024

Wednesday, April 10, 2024

Yanis Varoufakis explains how big tech is economically dominating your life

This is the most interesting economic discussion I've heard in a year, by a sociologist.

Saturday, February 03, 2024

Orlando teen invents device with potential to help 2.2 billion people

Raoul Pal's Warning On The US Dollar, Inflation, Debt, Web3 & An Upcomin...

This seems interesting, apparently, those with liquid wealth are trying to use crypto to mitigate the indirect tax imposed by inflation, but there is an alternate solution.