4 ms·

Which propaganda videos would you prefer I watch? The Federal Reserve (by far the most important one) is privately owned, as are Belgium, Greece, Japan, South

Which propaganda videos would you prefer I watch? The Federal Reserve (by far the most important one) is privately owned, as are Belgium, Greece, Japan, South Africa, Switzerland, Turkey and the Bank of Italy. The ECB is owned by central banks of member states, some of which are privately owned. Private ownership is any case one issue, the other is the fact the CBs are structured in such a way to be resistant to political pressure and (meaningful) oversight.

dools 4y ago
> Which propaganda videos would you prefer I watch? This is a good start: https://youtu.be/sT1KoXayDNU https://youtu.be/sT1KoXayDNU
- jcbrand 4y ago
  I'm familiar with Mosler and MMT. MMT requires the government to raise taxes once inflation starts rising due to previous money printing. What are governments doing now? They are actually thinking of handing out more money to people to offset the effects of inflation (thereby making the inflation worse). In other words, MMT requires governments to always do the right thing, which they don't. That's ignoring the theoretical underpinnings of MMT which are by no means unassailable.
  - dools 4y ago
    > MMT requires the government to raise taxes once inflation starts rising due to previous money printing. That’s a common misconception. Have you seen any MMT economist advocate a tax increase recently? Here is an excellent podcast with one of the most eminent MMT scholars Randall Wray discussing his recent publication on how to deal with inflation in the US currently: https://realprogressives.org/podcast_episode/episode-173-inflation-the-feds-crash-landing-with-l-randall-wray/ https://realprogressives.org/podcast_episode/episode-173-inf... Here is the publication: https://www.levyinstitute.org/pubs/ppb_157.pdf https://www.levyinstitute.org/pubs/ppb_157.pdf
- md2020 4y ago
  MMT is widely regarded as not in agreement with the few things we’re pretty sure we know about economics, and furthermore its proponents generally refuse to publish actual models of the system they propose. Here’s a good examination of an MMT model that finds it somewhat lacking: https://noahpinion.substack.com/p/examining-an-mmt-model-in-detail?s=r https://noahpinion.substack.com/p/examining-an-mmt-model-in-...
  - dools 4y ago
    The opening line of this blog is: > MMT, for those who aren’t familiar with it, is a small, cohesive group of people who go around telling the government to borrow more and spend more. Which is fundamentally incorrect and betrays a misunderstanding of MMT so his opinion is irrelevant
    - md2020 4y ago
      Do you have a PhD in Economics? The author does, so I’m going to take his understanding of it over yours for now. He is fundamentally right that MMT proponents are reluctant to publish models, while proponents of other economic theories aren't. If you won't publish a model because you're afraid it won't stand up to scrutiny, you don't get to be taken seriously.

dools 4y ago

> Which propaganda videos would you prefer I watch? This is a good start: https://youtu.be/sT1KoXayDNU https://youtu.be/sT1KoXayDNU

jcbrand 4y ago
I'm familiar with Mosler and MMT. MMT requires the government to raise taxes once inflation starts rising due to previous money printing. What are governments doing now? They are actually thinking of handing out more money to people to offset the effects of inflation (thereby making the inflation worse). In other words, MMT requires governments to always do the right thing, which they don't. That's ignoring the theoretical underpinnings of MMT which are by no means unassailable.
- dools 4y ago
  > MMT requires the government to raise taxes once inflation starts rising due to previous money printing. That’s a common misconception. Have you seen any MMT economist advocate a tax increase recently? Here is an excellent podcast with one of the most eminent MMT scholars Randall Wray discussing his recent publication on how to deal with inflation in the US currently: https://realprogressives.org/podcast_episode/episode-173-inflation-the-feds-crash-landing-with-l-randall-wray/ https://realprogressives.org/podcast_episode/episode-173-inf... Here is the publication: https://www.levyinstitute.org/pubs/ppb_157.pdf https://www.levyinstitute.org/pubs/ppb_157.pdf
md2020 4y ago
MMT is widely regarded as not in agreement with the few things we’re pretty sure we know about economics, and furthermore its proponents generally refuse to publish actual models of the system they propose. Here’s a good examination of an MMT model that finds it somewhat lacking: https://noahpinion.substack.com/p/examining-an-mmt-model-in-detail?s=r https://noahpinion.substack.com/p/examining-an-mmt-model-in-...
- dools 4y ago
  The opening line of this blog is: > MMT, for those who aren’t familiar with it, is a small, cohesive group of people who go around telling the government to borrow more and spend more. Which is fundamentally incorrect and betrays a misunderstanding of MMT so his opinion is irrelevant
  - md2020 4y ago
    Do you have a PhD in Economics? The author does, so I’m going to take his understanding of it over yours for now. He is fundamentally right that MMT proponents are reluctant to publish models, while proponents of other economic theories aren't. If you won't publish a model because you're afraid it won't stand up to scrutiny, you don't get to be taken seriously.