DTMri buruzko kantu bat

Christian Reilly‏ @christreilly

(https://twitter.com/christreilly/status/1106980613138104320)

Hi guys! I did a song about Modern Monetary Theory

Spending In The World As We Know It

(https://soundcloud.com/christianreilly/spending-in-the-world-as-we-know-it)

2019 mar. 16

Christian Reilly‏ @christreilly

Song inspired by @wbmosler , @StephanieKelton , @billy_blog + dedicated to @sdgrumbine and @PatriciaNPino

I Am The Very Model Of A #MMT Theory.

(Now a full song!, recorded a cappella.)

—

The… very model of a Modern Monetary Thee-o-ry.
Where all fed spending’s always paid for with created currency.
Which logically extends that taxes cannot pay for anything.

Yet taxes are important
they impose morality
They also con-trol inflation
And of course they drive the currency.

The… federal-ah government does not care about mo-ney.
They only care about the resources they have domestically.
They provision themselves by making people do all that it needs.

Then pay them money
Which the people can do with it
As they please
And this is what we lovingly call
De-bt-fr-ee sa-vings.

The… central bank creates currency using a computer.
They give the ba-nks more reserves my making numbers bi-gger.
Reserves to banks are just like bank accounts to me and you-er.
But for us ou-r banks are in our town next to the sewer.

We must pay taxes or our things will all be confiscated.
And then if we still do not pay we’ll be incarcerated.
This is our fate, we don’t create, we must get it from somewhere.
Like from a job, or local mob, or beg or steal or credit card.

We need a job to get some money, so we can pay taxes (2X)
This is our fate we don’t create, it’s not that great, we’ve no choice in the matter.

The very model of a Modern Monetary Theory.
By Mosler, Mitchell, Wray, Fullwiler, and a-Kelton Stephanie,
The Federal Job Guarantee and ZIRP are recommen-ded
but otherwise it just describes. That’s all that is intended (2X).

Banks also create money but it’s very different as you’ll see.
They’re franchised by the government but what they make is not debt-free.
If you don’t pay them back your life will be infinite misery.
It’s private debt, if it’s not met, it just keeps growing big-i-ly.

The bills are due, what will we do? The debt collector’sp calling.
I cannot pay, oh woh is may, my income keeps on falling.
We need some full employment so we can tell our boss to go screw himself.

(But really the Federal Job Guarantee is a permanent countercyclical automatic macroeconomic stabilizer for prices and wages
by using a buffer stock of the employed to even out the business cycle thereby preventing the majority of inflation – ex-ante.)

—

Twitter version of this song: https://twitter.com/citizensmed…/status/1105630196214976512…

This song was inspired by a heading in this article https://www.bloomberg.com/…/modern-monetary-theory-mmt-figh…

To musicians with sensitive ears: I blew a pitch pipe before each verse, but with as ambitious the song is, not to mention it’s intended to be sung by an entire chorus, it’s somewhat pitchy. I don’t play an instrument.

An amazing performance of the original song (with cameos by Linda Ronstadt and Kevin Kline!): https://www.youtube.com/watch?v=zSGWoXDFM64