Friday, May 3, 2024

Watch: Biden's Head Of Economic Advisors Try To Explain Government Borrowing

 Authored by Mike Shedlock via mishtalk.com,

Jared Bernstein was asked about Modern Monetary Theory (MMT)...

MMT says government is different. It owes the money to itself and the debt can be canceled at will. In MMT theory, a benevolent government would spend the money wisely, cancel all the debt or pay interest to itself, and everyone will essentially live happily ever after.

The notion is really amusing. But it was more amusing watching Bernstein try to address a question on it.

*  *  *

at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Musk Warns "If Trump Is Not Elected, This Will Be The Last Election"

  Elon Musk has argued that   the influx of illegal immigrants into the United States, " something that the Democrats are expediting as...

  • Suppressing Silver Prices Has Been Official US Policy Since 1965
      Authored by Chris Powell via MoneyMetals.com, In the July 18 edition of  Gold Newsletter , editor and publisher Brien Lundin wrote about t...
  • Who Needs Briefings anyway
      To Avoid DOJ Entrapment, Trump Says He Doesn't Want Intel Briefings Authored by Ken Silva via HeadlineUSA.com, Donald Trump told the  ...
  • It's A Strike!
      Canadian Freight Rail Shuts Down As Labor Talks Collapse: Strike Declared, "Members Head To Picket Lines" An unprecedented rail ...
  • Swimming In A Sea Of Lies
      Why Did Zuckerberg Choose Now To Confess? Authored by Jeffrey Tucker via The Brownstone Institute, Consider Mark Zuckerberg’s revelation a...