Exhibit number 1 of why we have to get rid of treasuries for the public to ever elect representatives who will understand fiscal. The vast majority of public,...
https://twitter.com/kweiner01/status/1412677203276431363?s=19
..& many if their econ "teachers," will always think there is a "debt" problem as long as we have our current rococo system. Smart ppl know all spending by currency issuers shakes out to be direct spending,& the repo/primary dealers/treasuries system is irrelevant. Public doesn't
MMT explains and explains, but the media has something to point at, there is the "debt clock," "think" tanks point at the savings #, the public is afraid that # & China having $ (we buy from them tho!) & so on. The change to a no treasury system IS worth the political capital
... probably only way public at large will "get it."
MMTers understand doesn't matter, but still a tiny minority.
MMTers understand doesn't matter, but still a tiny minority.
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