MMT

>>1239038
Probably!

>>1239040

/thread

The basic premise is that all money is created by the government. In a very narrow kinda way this is correct but it assumes that without out benevolent government printing money we'd be fucked.

>>1239038
not complete bullshit, just over simplified by retards.

>close markets will never be a thing

>>1239090

See this is why I ask here.

>close[d] markets will never be a thing

And these are absolutely necessary for the MMT to work right? Cause MMT assumes there is a constant amount of money in a nation at any given time that can only be affected by the government of said state. But it totally ignores foreign reserves and assets right?

>>1239097

That's part of the problem.

>-New money is principally created by commercial banks when they extend or create credit, either through making loans, including overdrafts, or buying existing assets-

>Fiscal policy does not in itself result in an expansion of the money supply.
They can't explain that, and that's economics101, once again, shit's not totally dumb just oversimplified.

>>1239127

They endorse infinite deficit spending then use this to justify it. Is there a sound economic case for this or are they fantasists?

>The conclusion that MMT draws from this is that it is only possible for the non government sector to accumulate a surplus if the government runs budget deficits. The non government sector can be further split into foreign users of the currency and domestic users.

>MMT economists aim to run deficits as much as the private sector wants to save and for real resources to be fully used e.g. full employment. As most private sectors want to net save and globally, external balances must add up to zero, MMT economists usually advocate budget deficits.

That one of them was Sanders economics advisor suggests they are gaining some credibility.

>>1239134

are they implying that the private sector/households will take those loans (unless it's parachute money?) once inflations hits, nobody will accept that money, unless... you are china where the government runs the banks who hand up the loans and the compagnies who take them

>>1239151

It was this article that set me of on a binge

http://www.vox.com/2016/5/9/11639292/donald-trump-default-print-money

Loads of links there that gave me a basic idea of what this shit is.

As to inflation, they believe that government spending alone directly affects inflation. Again from wiki,

>Because the government can issue its own currency at will, MMT maintains that the level of taxation relative to government spending (the government's deficit spending or budget surplus) is in reality a policy tool that regulates inflation and unemployment, and not a means of funding the government's activities per se.

I've seen a few posters in /pol/ pull out the line government surplus = private deficit. Never knew where they were getting such ideas until now.

File: Feudal1.jpg (68KB, 600x296px) Image search: [Google]

68KB, 600x296px

>>1239038
I think it's more like this. Central banks are on top and their hive is in Basel Switzerland and called the BIS.

http://www.internationalman.com/articles/theyre-bringing-back-feudalism-and-nobody-seems-to-notice

>>1239247
>tfw vassal mode

it's a mediocre feel desu

>>1239264
you are a doctor/military officer?