Money: Why Everything the MSM Says about it Is Wrong
Will wonders never cease? The august journal, National Review, is talking about MMT versus balancing the budget.
Naturally, when discussing MMT, the writer pushes the falsehood that economists who are expert in monetary systems claim deficit and debt make no difference and can be unlimited. That’s sheer nonsense, and the writer likely knew it was and inserted it anyway to try to discredit the proponents of MMT. The elites that own the main-stream media profit massively from keeping the general public completely mystified by our money system so they can exploit it exclusively for their benefit, making the gulf between the top 0.001% and everyone else ever wider. They want us to think that spending for things they profit from is A-OK. There is NEVER any need to ask how we’re going to pay for the next invasion of some nation posing us no threat, or the next bailout of a major corporate sector like finance. Things that exclusively benefit the billionaire class pay for themselves, don’t you know? But they are adamant that spending any amount on the common good will explode the deficit and bankrupt any nation that does it.
If we balance the budget, that means we tax just as much money out of the economy as we inject into it with new spending. That would leave the US money supply continually shrinking because money must flow off-shore to pay our perpetual trade deficit. Of course, billionaire globalists don’t care about the impact their preferred economic policy might have on the USA or any country in particular. Their concern is with the opulence of their gated communities and the fire-power their private security forces wield. When their profiteering ushers in global collapse, they think their underground bunkers will let them ride it out. Fortunately, people are waking up and realizing how ridiculous, dangerously ridiculous, such a claim is.
And that awakening is coming none too soon. We face ever-growing existential threats from anthropomorphic global warming, nuclear Armageddon, and biological warfare. The merchants of death are now determined to make space the next frontier of their endless wars for profit. Space is the ultimate high-ground. Realizing their Star Wars dreams will make a nuclear first strike far more likely. It is high time we embrace the reality of MMT and direct the spending toward the general interest of the population as a whole. Such expenditures create real assets, whereas spending to bless the billionaire class and nobody else just swells the pockets of a tiny percentage at the top. It’s deficits and debt run up to enrich billionaires that hurt us, not spending to build prosperity for all.
Dr. Stephanie Kelton is the economist and monetary expert mentioned in the article. Below, I have posted a 2016 video where she explains what MMT is. She’s a gifted communicator as well as being a brilliant economist. If you’re not familiar with MMT, now would be an excellent time to learn what it tells us about our current economic stagnation, where Wall Street has never had it better, but an ever increasing number of everyday people are committing suicide, dying of treatable diseases, or ODing.