A Brief History of The Deficit Myth with Dr. Stephanie Kelton

Dr. Stephanie Kelton is the most visible public advocate of modern monetary theory - the freshest and most important idea about economics in decades. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential.
• The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy (amzn.to/2BUPXcy)

[@427vot]

Plankton here. I have been so steeped in "printing money causes inflation" conversation that it's very hard to get my head around this. The bottom line is this what it has come to at this point. There are some big cracks appearing in my mind. I would really like for Stephanie to help me understand how families can get back to affording home ownership and family life.

[@twhelostl61]

One point to consider. The US Federal Government is the issuer of its currency. Why would it ever think of borrowing from its self? Taxes and Interest Rates keep that inflation flame under control. Politicians say it is trouble. Wonder why none ever talk of deflation? Credit creation is necessary and the choices made over what to do with it matter. A person who must rely on their paycheck chooses to invest or gamble? Both of those involve risk. Should they start a business, or bet on horses at the track? Japan BOJ has held interest rates at zero or negative for decades. Their economy is faltering. Would you guess why? Population of savers are not getting a cent back on their JGB holdings. That is part of why they changed interest rates last week.

[@displacednaija]

Appropriating China's dollars sounds like a great idea. Right?

[@displacednaija]

I guess in Zimbabwe's case, G7 imposed economic sanctions had nothing to do with hyperinflation.
Yeah right!