Let's be fair... I can boil the #MMT pushback down to a couple demographics and their baked in need for MMT to be wrong regardless of facts. Let's go...
Academics: when online activists can destroy 50 years of economic malfeasance your work pushed forward in the academy and the journals and in the Ivory Tower... Excuse me... Your class is showing.
Economists in the field: we're unable to get ANY of the major issues correct, but MMT demonstrates your ideas are incorrect and you might lose your place as Grima Würmtongüe at the side of kings because even the proletariat are able to call BS on your work. Based.
When Media Pushes Back: "MMT, YOU ARENT PAYING THE BILLS MATE... slide the envelope in my back pocket and we will get you on, until then... Let them eat cake." Charlatans and grifters have to pay the bills. MMT isn't paying media for spots.
Alt Media: "#MMT doesn't get me likes and clicks so I will stay on the Bitcoin tip, who cares about a Green New Deal, healthcare and ending student debt... I mean, after all... Ivermectin will get me more clicks."
Aspiring Politicians: "My handlers say this MMT thingy isn't gonna sell"
Current politicians: "The master demands I apply more austerity or I reduce spending except the military... How else can we maintain control of the people when they aren't left wanting ."
Deep State Lifers who make the machine work: "MMT takes our lies and turns them on their heads and the masters don't want that"
Big Pharma: "We want subsidies, but fuck your price controls... We want it all and MMT shows the difference between money, cost, real resources and by extension, it exposes our price gouging"
Big Ag: "We love being paid not to produce, but if the people realize how much the public subsidizes us, we will not be able to crush new entrants and Monopoly power will die"
Military Industrial Complex: "#MMT would put forth a Federal Job Guarantee and that would severely impact our ability to sell dying for Multinational Corporations and Resource Extraction... Can't have them fulfilled and not desperate."
Racists: "you mean we could afford #ReparationsNow"? Shit, can't have that #MMT stuff..."
Nationalists: "#MMT means we can afford to allow immigrants without the racism and anti-immigrant nonsense because our culture will be diluted"

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More from @sdgrumbine

Feb 20
Government spends money into existence. It doesn't print money onto pallates to be stored in commercial banks where the Federal Government applies for loans.
It literally spends it into existence. So no "printing money" and then it deletes it from electronic ledgers when it comes in as a tax. Those taxes literally never are reused or ever a funding mechanism for new programs. Deleted. Destroyed. Pushed into oblivion.
Should have posted *ALERT*BEWARE OF ANYTHING (all caps of course) *BEWARE FALSE FLAGS* or some stupid 💩 LIKE 🤣😂 to get these tweets some distance
Read 4 tweets
Feb 9
If you see someone talking about petrodollars... and they aren't just pulling your leg... and they are really serious and say really dark gloomy things...
1/x
Imagine going to Chuck E Cheese... and they only use Chuckbucks to pay for games, and all you have is US dollars... is that a crisis??? Uh .. no?

So why would agreeing to use dollars for transactions of oil mean anything either?

It doesn't
What matters is the currency nations want to save in.
Read 8 tweets
Jan 29
Neoliberalism is the art of privatization, globalization and financialization of economies.
The push to private credit vs state spending allows the Wall Streets of the world & massive multinational corporations to suck the GDP out of the hands of the people...
trade deals pushed by the neoliberals of both parties facilitate this while simultaneously pushing the 99% to unsustainable private debt. This is their means of enslaving a planet... not just a country.
Read 10 tweets
Jan 14
Our Federal Government doesn't need revenue. Taxes serve as a gas pedal or brake for an economy. They drive the need for currency. They stave off inflation and can be used to break up pooled concentrations of wealth that are destructive to a functioning democracy and economy.
1/x
So what's the fuss about marginal income tax rates and "fair share"? Why the chatter about how will the government get money to fund its operations?
First we must decouple the idea that spending and taxing are linked. Taxes are not a financing operation at the federal level. In fact, taxes are destroyed upon receipt.
Read 21 tweets
Jan 8
I am skeptical that we can reform or vote our way to Equality or even significantly improve the material conditions of the working class because our system makes dissemination of meaningful information too challenging.
1/x
Especially given the narratives that make up social media "big deals" (largely activist Westside Story) and our ability to do more than randomly rage. We are unable to effectively communicate and plan. We are clique-y and often so cynical deeper truths are elusive.
The question of reform or revolt has never been more valid to ask... What is it that we would need to do either?
Read 7 tweets
Jan 3
There is something that's been eating me inside and out and I have not been able to articulate this until now, but I am gonna try because I think it is very important. At least to me it is. The sickness of our neoliberal world impacts both the middle class and the poor.
When you see generational poverty, it is easy to see it outright. It's extreme. It's often hopeless to the individual. It's bleak and the political space uses poverty as a political tool. One for explaining "bad choices" and one that exploits it as "immoral". But it's a veneer.
It's used as a political football. Two angles: you are a bad person and undeserving or my goodness this is so tragic we must save you with a pittance... Charity ... Hand outs... No structural change... No real change.
Read 23 tweets

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