Vingården finansierar golf
VECKANS DOUGLAS CASEY
Detta är GURUN med erfarenhet sedan 1970-talet, bor på La Estancia Cafayete i Argentina, där vingården finansierar hela golfbanan.
The left has a new obsession… Modern Monetary Theory (MMT)
MMT is an economic theory which essentially argues that the U.S. government wouldn’t need to collect taxes or borrow money to finance spending. It could simply print more money if necessary.
Now, this concept isn’t new. It’s been around for decades. But its popularity has skyrocketed, thanks to endorsements from Democratic presidential candidate Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez (AOC), the new rising star of the Democratic Party.
This new breed of socialist Democrats has embraced MMT because it would make all their crazy ideas possible.
MMT would give the government a green light to spend money even more recklessly than it does now. That’s a problem.
MMT centers around the notion that the economy in general, and money in particular, should be the creatures of the State. It’s not a new idea – the meme has been around in one form or another since at least the days of Marx. MMT basically posits that the wise and incorruptible solons in government should create as much currency as they think is needed, spend it in areas they like, and solve any problems that occur with more laws and regulations.
It’s nothing new. Just a more radical version of the economic fascism that’s dominated the U.S. since at least the days of the New Deal. It’s just another name for an old, and very stupid, set of economic ideas. By stupid I mean, “showing an inability to predict the indirect and delayed consequences of actions.”
Politicians are now talking about the supposed benefits of MMT. Pseudo-economists are doing their abstruse and incomprehensible mathematical computations about how it might affect the economy. The public will easily be convinced they’ll get something for nothing.
But what we should be talking about here is moral principle. It’s not a question of whether MMT will work or not work. It won’t. It will work about as well as the economic policies of Venezuela and Zimbabwe. Or Argentina, where I am at the moment. These schemes have never worked in all of history. They result in a vastly lower standard of living, along with social strife.
MMT is about radically increased government control. The argument shouldn’t be over whether MMT will “work” or not. The argument should be about whether it’s moral and proper for people in the government – whether elected or appointed – to print money to change the economy into something that suits them better.
They’re sold to the voters, to the hoi polloi, to the “head count,” as something that will put them on easy street. Which is a lie, of course.
But that’s not what the argument should be about. The average guy doesn’t understand economics; he doesn’t think, he feels.
The fact that Alexandria Ocasio-Cortez [AOC] – an ambitious, terminally ignorant, morally crippled 29-year-old Puerto Rican bartender – is setting the tone for this whole discussion tells you how degraded the U.S. has become. It’s well on its way to turning into a giant welfare and police state.
This is all a comedy. AOC, The Donald, Bolton, Bernie Sanders, Pocahontas, Hillary, Kamala, etc., etc. They’re all dangerous megalomaniacs. But the chimpanzees listen to them, choose teams, hang on to their every word, support them, and are easily incited to hoot and pant at each other. The American public is going to get exactly what it deserves.
Göran Högbergs Finanskrönika varje vecka – klicka här för mer information!
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