At the end of the segment Laura asked if the good reverend wanted to throw out the whole free market, to which he replied: "What we need to take a look at, Laura, is Modern Monetary Theory, and reform. We have to get public money over private money." A quick search of the church's website revealed no MMT proselytizing, so we're left to wonder whether the Deity approves of MMT or not.
Before We the People give leave to the feds to start creating money at the rate the MMTers would like them to, there's a fundamental issue that more folks need to be clear about - the methods by which we create electronic money.
The Fed creates money directly through typing, and Congress creates money indirectly through spending.
Check out a lecture Kelton delivered at Stony Brook University in October: "But How Will We Pay for It? Making Public Money Work for Us." For Kelton, "How will we pay for it?" is a silly question because the federal government can create whatever money it sees fit to.
Because except for Rand Paul and a few others, "We're all MMTers now." Congress has been spending borrowed money like Imelda Marcos in a high-end shoe store.
One of the snags of MMT is trusting Congress to spend prudently, that members won't squander pristine new money on crap.
Idiotic spending by Congress does a lot more than waste money; it distorts the economy and hurts folks.
https://www.americanthinker.com/articles/2019/08/does_sovereign_debt_matter.html
Before We the People give leave to the feds to start creating money at the rate the MMTers would like them to, there's a fundamental issue that more folks need to be clear about - the methods by which we create electronic money.
The Fed creates money directly through typing, and Congress creates money indirectly through spending.
Check out a lecture Kelton delivered at Stony Brook University in October: "But How Will We Pay for It? Making Public Money Work for Us." For Kelton, "How will we pay for it?" is a silly question because the federal government can create whatever money it sees fit to.
Because except for Rand Paul and a few others, "We're all MMTers now." Congress has been spending borrowed money like Imelda Marcos in a high-end shoe store.
One of the snags of MMT is trusting Congress to spend prudently, that members won't squander pristine new money on crap.
Idiotic spending by Congress does a lot more than waste money; it distorts the economy and hurts folks.
https://www.americanthinker.com/articles/2019/08/does_sovereign_debt_matter.html
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