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1/ #LearnMMT song parody: “I Am The Very Model of a Modern Monetary Theory. [THREAD v1]
Sung to the tune of “I Am The Very Model of a Modern Major General" from Gilbert & Sullivan's The Pirates of Penzance. Here’s a fantastic performance of the original:
Sung to the tune of “I Am The Very Model of a Modern Major General" from Gilbert & Sullivan's The Pirates of Penzance. Here’s a fantastic performance of the original:
2/ Notes: The full length verse is in the structure "main verse (long) 👉 chorus 👉 short verse." This parody mixes it up a bit.
Key:
🎶 = Start of main verse (long)
🎵 = Chorus
🎼 = Post chorus verse (short)
A crude version sung by me is at the end of this thread.
Key:
🎶 = Start of main verse (long)
🎵 = Chorus
🎼 = Post chorus verse (short)
A crude version sung by me is at the end of this thread.
3/ 🎼 The... very model of a Modern Monetary Thee-o-ry.
Where all fed spending’s always paid for with created currency.
Which logically extends that taxes cannot pay for anything.
Where all fed spending’s always paid for with created currency.
Which logically extends that taxes cannot pay for anything.
4/ Yet taxes are important
they impose morality
They also con-trol inflation
And of course they drive the currency.
they impose morality
They also con-trol inflation
And of course they drive the currency.
5/ 🎼 The... federal-ah government does not care about mo-ney.
They only care about the resources they have domestically.
They provision themselves by making people do all that it needs.
They only care about the resources they have domestically.
They provision themselves by making people do all that it needs.
6/ Then pay them money
Which the people can do with it
As they please
And this is what we lovingly call
De-bt-fr-ee sa-vings.
Which the people can do with it
As they please
And this is what we lovingly call
De-bt-fr-ee sa-vings.
7/ 🎶 The... central bank creates currency using a computer.
They give the ba-nks more reserves my making numbers bi-gger.
Reserves to banks are just like bank accounts to me and you-er.
But for us ou-r banks are in our town next to the se-wer.
They give the ba-nks more reserves my making numbers bi-gger.
Reserves to banks are just like bank accounts to me and you-er.
But for us ou-r banks are in our town next to the se-wer.
8/ We must pay taxes or our things will all be confiscated.
And then if we still do not pay we'll be incarcerated.
This is our fate, we don't create, we must get it from somewhere.
Like from a job, or local mob, or beg or steal or credit card.
And then if we still do not pay we'll be incarcerated.
This is our fate, we don't create, we must get it from somewhere.
Like from a job, or local mob, or beg or steal or credit card.
9/ 🎵 We need a job to get some money, so we can pay taxes (2X)
This is our fate we don't create, it's not that great, we've no choice in the matter.
This is our fate we don't create, it's not that great, we've no choice in the matter.
10/ 🎼 The very model of a Modern Monetary Theory.
By Mosler (@wbmosler), Mitchell (@billy_blog), Wray, Fullwiler (@stf18), & a-Kelton Stephanie (@StephanieKelton),
The Federal Job Guarantee & ZIRP are recommen-ded
but otherwise it just describes. That's all that is intended (2X)
By Mosler (@wbmosler), Mitchell (@billy_blog), Wray, Fullwiler (@stf18), & a-Kelton Stephanie (@StephanieKelton),
The Federal Job Guarantee & ZIRP are recommen-ded
but otherwise it just describes. That's all that is intended (2X)
11/ 🎶 [slow, melodramatic] Banks...also create 💰 but it's very different as you'll see.
They're franchised by the gov’t but what they make is not debt-free.
If you don't pay them back your life will be ♾ misery.
It's private debt, if it's not met, it just keeps growing big-ly.
They're franchised by the gov’t but what they make is not debt-free.
If you don't pay them back your life will be ♾ misery.
It's private debt, if it's not met, it just keeps growing big-ly.
12/ 🎵 [a tempo] The bills are due, what will we do? The debt collector's calling.
I cannot pay, oh woh is may, my income keeps on falling.
We need some full employment so we can tell our boss to go screw himself.
I cannot pay, oh woh is may, my income keeps on falling.
We need some full employment so we can tell our boss to go screw himself.
13/ [spoken, super-fast] (But really the Federal Job Guarantee is a permanent countercyclical automatic macroeconomic stabilizer for prices and wages
by using a buffer stock of the employed to even out the business cycle thereby preventing the majority of inflation – ex-ante.)
by using a buffer stock of the employed to even out the business cycle thereby preventing the majority of inflation – ex-ante.)
15/ Here is me singing this song, but note it’s only me, by myself with no instruments (I don’t play any). If there are any heterodox opera companies/choruses/orchestras/kick-ass pianists interested in making this happen, lemme know.
soundcloud.com/peopleconversa…
soundcloud.com/peopleconversa…
16/ This parody was inspired by a heading in this article bloomberg.com/opinion/articl…
18/18 To #LearnMMT, start here.
19/ Facebook version: facebook.com/10689119065225…
Here’s a second version of @christreilly’s #MMT song, this time with me doing a bit of harmony.
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