A little over four years ago I stumbled onto #MMT. It was (and still is) a lot to process, but fairly early on in my reading I was convinced of this-
When it comes to government spending, we are NOT asking the right questions.
I read stuff that made my brain hurt. And after not understanding a single word of it, I read it again. I fell asleep to videos explaining the differences in cost push and demand pull inflation. I learned what boring things like IOR, NAIRU, NAIBER stand for and mean.
May 2, 2019 • 6 tweets • 2 min read
If the NFL changed their point values to Field goals=7 points, and touchdowns=3 points, I imagine that teams would immediately stop scoring TD's, and start kicking field goals..when the rules of the game change, you change your strategy to give yourself the best chance to win
Now imagine the rules of the "money game" changed (it shouldn't be hard, they DID change almost 50 years ago). When the convertibility of dollars to gold was removed, it opened up a wide range of possibilities that we still have yet to fully realize ("fully" is being kind)
Mar 30, 2019 • 8 tweets • 2 min read
(SCENE-Man is pushing his Lamborghini down an open highway, passes a cop)
🔹️Good morning officer!
🔸️Good morning. Are you out of gas?
🔹️No, just out for a cruise!
🔸️Why, if you don't mind me asking, aren't you *driving* your car then?
🔹️Oh right..looks weird huh?
1/2/ 🔸️Um..yep. Looks a little weird.
🔹️Well you see officer, this is a Lamborghini Aventador. It can reach top speed of 220 MPH, and can go from 0-60 MPH in 2.9 seconds!
🔸️(mumbling under his breath) Probably not while you're pushing it.
🔹️I'm sorry, what?
Feb 28, 2019 • 4 tweets • 2 min read
You're driving and you want to maintain a certain speed. Let's say 55 MPH. Or 80..(hey, you do you) What do you have to do to maintain that speed? Well if you're going UPhill, you have to "spend" more gas to maintain it. And if you're going DOWNhill, you "spend" less gas
But you'd "spend" whatever gas is needed to maintain your target speed. Another approach would be that it's OK to "spend" gas when you're almost stopped, but let off the gas once you're moving so you don't "spend" too much. But that's silly, and you'd probably be pulled over.
Jan 17, 2019 • 5 tweets • 4 min read
My son Jared turns 8 in May. He's a joy. His smile is infectious, he's really good with numbers, he is a great big brother to his two little sisters, he LOVES ketchup, and he also happens to be on the #autism spectrum.
I can't speak for every parent of a child on the #autism spectrum, but getting through the "now" isn't what scares me. We have an amazing support group of family, teachers, and doctors. We might be tired (It's not "the sun" waking up the roosters, it's MY son), but we get by.
May 21, 2018 • 4 tweets • 1 min read
When China gets US$ (which they get via trade) they can do with them as they please. They can get it in cash and roll around in it on their beds, exchange it for another currency, leave it in their reserve account at the fed (checking), or purchase US Treasury bonds (savings) 1/4
Anyone w/ US$ has the same choices, and many choose buying US Treasury bonds because they are risk-free financial assets. They are risk-free b/c the US govt can make ANY payment that comes due in US$. They also add to the national "debt" which people are afraid of. But why? 2/4
May 2, 2018 • 6 tweets • 3 min read
The #JobGuarantee is more than a price stabilizing tool, or a "buffer stock of labor" to keep ready for private sector employers. It IS those things, but more importantly it's a life changing policy that will eliminate involuntary unemployment. And for me it's personal.. 1/
My son Jared turns 7 in a few weeks. He was 3 when he was diagnosed with autism. The official diagnosis wasn't a surprise to me, it was almost like diagnosing my daughter with curly hair. We knew. I WAS surprised however when I heard of the unemployment #'s for autistic adults 2/