MMT is the process by which government prints money, buys all the stuff, and when there’s no stuff left to buy takes away everyone else’s money to avoid any consequences ….. to the government.
MMT will be back. The Left, never admitting of mistake, will come up with some rationale for its failure, such as: MMT would have worked but for pandemic supply constraints.
Surprised the author didn’t mention the now PDF Book titled “Fiat Money Inflation in France” about late 1800s France’s experience doing what MMT says works. 😂
Imagine, there are thousands of "Bersteins" running wild throughout the cherished halls of government. He is setting the standard for competence. I know, let's promote him to the Fed board of nincompoops.
If we take the McDonalds menu and assume a minimum inflation rate; based on the average price increase of products across the board. We come to an average price increase of 141% of all items across the board (SEE CHART BELOW).
Many Americans live off of McDonalds. It is the #1 most popular fast food joint in America.
You really have to read about devolution and Q to see how Bernstein is playing a role in a movie.
No one can possibly be that stupid - even a PhD. At the very least someone who doesn't know the topic will get a rain check and brush up on it rather than bumble his way through a very public interview.
MMT is the process by which government prints money, buys all the stuff, and when there’s no stuff left to buy takes away everyone else’s money to avoid any consequences ….. to the government.
I finally understand MMT - thanks.
"But if people overspending causes inflation, why does government overspending cause inflation?"
Makes better sense to me this way:
But if people overspending causes inflation, why does government overspending NOT cause inflation?
It does. Just with a longer lag time.
Excellent piece…shared with someone who thinks so-called MMT is the answer.
MMT will be back. The Left, never admitting of mistake, will come up with some rationale for its failure, such as: MMT would have worked but for pandemic supply constraints.
Mmt is just plain idiotic. Ĵ
Surprised the author didn’t mention the now PDF Book titled “Fiat Money Inflation in France” about late 1800s France’s experience doing what MMT says works. 😂
Government officials are appointed due to the boxes they check off. Bernstein is Jewish. I rest my case.
Imagine, there are thousands of "Bersteins" running wild throughout the cherished halls of government. He is setting the standard for competence. I know, let's promote him to the Fed board of nincompoops.
Inflation Rate 141%?
If we take the McDonalds menu and assume a minimum inflation rate; based on the average price increase of products across the board. We come to an average price increase of 141% of all items across the board (SEE CHART BELOW).
Many Americans live off of McDonalds. It is the #1 most popular fast food joint in America.
https://www.qsrmagazine.com/operations/fast-food/ranked-the-top-50-fast-food-chains-in-america/
McDonalds use to be the most affordable. Hence it's traffic. Now, Americans can hardly even afford McDonalds.
https://app.hedgeye.com/insights/138674-mcdonald-s-has-become-unaffordable-for-many-americans?type=stock-and-policy%2Chedgeye-tv
DATA: America Already Died
Recession Since 2008; Depression Since 2020
Substack Read:
what's the DILL?
https://open.substack.com/pub/blackboxpolitics/p/data-america-already-dead?r=99p96&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
Now explain chipotle
You really have to read about devolution and Q to see how Bernstein is playing a role in a movie.
No one can possibly be that stupid - even a PhD. At the very least someone who doesn't know the topic will get a rain check and brush up on it rather than bumble his way through a very public interview.
Thaniks for a great post, sir.