Dan Cameron
Jul 3, 2018 · 1 min read

I’m probably not qualified to write an article. I have looked up the economist that you referenced, and the basics of MMT, but that’s as far as my knowledge goes.

I do have some general thoughts. First, I agree with many of your US policy criticisms, and the idea of the United States going broke is the wrong way to look at a future financial calamity. Second, I believe that the United States government and its financial system are more fragile than, my interpretation, of your posts. Fiat money is only as valuable as the world’s perception of its value. We need both a vibrant domestic economy and equally vibrant foreign trade for our government to stay afloat. And these two factors are interconnected.

Fiat money has no intrinsic value, so we should remove the idea that money creates national wealth. Mutually beneficial trade creates wealth and government services are not an exception. In my opinion, there is no limit to the amount of money that the government can spend, as long as that money creates more value for its citizens than its costs. Unfortunately too much of the US budget does not conform to that ideal.

    Dan Cameron

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    Author of Greed, Power and Politics, The Dismal History of Economics and the Forgotten Path to Prosperity. https://greedpowerpolitics.com/