and why do they insist on waxing on about numeraires like the petrodollar or "end of dollar hegemony" when in fact Japan, the UK, Australia and even Canada are case studies that show the vapid nature of these claims?

Japan and China each have a sovereign free floating fiat currency and in the case of Japan have nearly 300% Debt to GDP ratio and they cannot crack 2% inflation and absolutely NO ONE is suggesting to not do business with Japan or that they are broke or anything else.

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Austerity is Murder🌹

@sdgrumbine

1 Oct

As an #MMT informed #progressive... people not having pay is a DIRECT result of inactivity by our Federal Government. Trump. Congress. Etc.

As an #MMT informed #progressive, I know it is absolutely irresponsible for me to not always point to how the government is failing to meet our needs rather than ignoring this for other pet reasons.

As an #MMT informed #progressive, I choose to use the Corona Virus depression as a way of always shining a spotlight on the fact that we could have NATIONALIZED PAYROLL. We could have forgiven mortgage debt & paid rents to ensure no one lost their homes or jobs & Medicare for All

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Austerity is Murder🌹

@sdgrumbine

19 Sep

I hope people follow their principles and maintain integrity. I don't presume to know what people should do. But I do speak a common language with people who paid attention to what neoliberalism has done to us and the death and destruction it left in its wake.

Neoliberalism gave us Trump. It abandoned families. It destroyed communities. It is the greatest evil of our time because it gives off a false "legitimacy" while being a direct form of fascism.

From mass surveillance to mass incarceration, deficit reduction and means testing, it has done more to destroy, divide and crush democracy than anything else... it also has killed our environment.

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Austerity is Murder🌹

@sdgrumbine

8 Sep

Keep this in your back pocket.

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Austerity is Murder🌹

@sdgrumbine

9 Aug

First things first we have a sovereign, non-convertible, free floating fiat currency that is backed by an obligation: taxation.

Second: no one says we can just print da muney... all dollars are merely a tax iou and are created by keystrokes. The birth of a dollar is congressional spending and the death of the dollar is taxation

Third: QE is not "printing money". It is merely swapping debt for liquidity. Banks do not lend reserves...

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Austerity is Murder🌹

@sdgrumbine

8 Aug

So the Dem presidential candidate isn't taking money from every lobbyist under the sun?

So Biden isnt anti-medicare for all in the middle of a pandemic?

So he didn't write the racist crime bill of '94?

He didn't support the war in Iraq?

So Biden didnt make it harder for people to file bankruptcy and impossible to file bankruptcy on student loans?

So Biden didnt support NAFTA?

So Biden didnt support the Patriot Act?

So Biden wasn't anti-gay marriage?

So Biden didnt try to cut Medicare & Social Security multiple times?

So Biden didnt try to make abortion a states rights issue?

So all of these policies he wrote and supported didnt lay the ground work for a Trump Presidency by making desperate people vulnerable to Trump?

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