2018 urt. 24
Alegia, hauxe da, hasierarako, Steve Grumbine-ren ustez, ikasi behar duzuna (in Zipriztin monetarioak: atzerritar monetak eta Steve Grumbine):
I learned we are No longer on the gold standard or pegged to any commodity such as oil. That our dollar is a sovereign, free floating, non-convertible fiat currency.
That the Federal Reserve is actually a creature of Congress and not the other way around.
That Congress controls spending through Constitutional authority and fiscal policy and the Fed controls interest rates through monetary policy
I learned that an economy without full employment meant the government had too small of a deficit.
I learned that the dollar was merely a tax credit.
I learned that the answer to all questions of how will the government “pay for it” was CONGRESS will authorize spending.
I learned that all Fed spending was keystrokes.
That social security wasn’t broke.
That we never have to “find the money” or cut spending here to create spending there.
That a public sector deficit was a private sector surplus.
That sectoral balances are key to knowing the state of any economy.
That currency users are very different than currency issuers.
And that taxation drives the need for currency but doesn’t pay for spending.
That hyperinflation does not come from government spending.
That inflation isn’t based on money growth but access to real resources.
In the end, I was given hope because I realized that austerity was unnecessary and that if everyone learned how it really worked, the left right divide would be decimated and we could rise as the 99%. That we could have a New Deal without raising taxes.
That we could have Green Energy TODAY.
That we could have national healthcare as a right TODAY.
That we could get rid of student debt TODAY.
That we could end poverty and homelessness TODAY.
That we could end wars for oil TODAY.
That we could provide our children with a future we would be proud of TODAY.
I gained hope. Genuine hope by learning how economics REALLY worked.
That happened when I learned MMT: Modern Monetary Theory.