, 5 tweets, 1 min read Read on Twitter
1. When you hear experts talk about "deficits don't matter" what you are hearing is a person that believes in modern monetary theory or as I like to call it "money grows on trees" theory. The biggest problem with this theory is it's correct right up until it isn't.
2. Deficits don't matter until they do. You can print money out of thin air until you can't. The system continues to function until it doesn't. It's much like socialism. It works until it fails spectacularly. This is how people are fooled into this thinking.
3. It's really economic musical chairs but instead of taking one chair away at a time all the chairs are removed at once. The kicker is that no one knows when the music is going to stop.
4. They don't know when the failure point will occur because it's based on psychology (human behaviors/emotion) not economics. The music stops when everyone understands their money is worthless because others can create it out of thin air. It stops when the money can't buy goods
5. Basically those that say deficits don't matter are correct short term but very wrong long term. So enjoy the music while it lasts.
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to unseen1
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!