By Jonathan Newman
Every cent of government borrowing displaces credit that would be extended to value-creative uses in the market economy and represents future taxation or inflation.
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17 sats \ 10 replies \ @Satosora 25 Apr 2024
Scarcity is important, though.
To downplay it is a disservice to society.
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55 sats \ 9 replies \ @Undisciplined OP 25 Apr 2024
Correct. MMT is stupid.
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68 sats \ 7 replies \ @kepford 25 Apr 2024
But its an appealing idea and surprisingly accepted by people. The status quo is absurd so MMT seems to make sense to some. They have been propagandized. Now they are open to the ideas.
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123 sats \ 0 replies \ @Satosora 25 Apr 2024
It isnt appealing. What l got out of it is to have no savings because you need to spend your money while you get it, because the printers are running at full speed. There is no future in that.
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55 sats \ 5 replies \ @Undisciplined OP 25 Apr 2024
I think that's it. The current system is so ridiculous that a Nobel Prize winning economist suggested minting a trillion dollar coin as a serious solution to something, which was literally a Simpsons joke.
https://m.stacker.news/28182
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68 sats \ 0 replies \ @kepford 25 Apr 2024
I think we have a hard time rationalizing the irrational. This is why so many bitcoiners fail to communicate to the average Joe.
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72 sats \ 3 replies \ @Satosora 25 Apr 2024 freebie
This will project us into hyperinflation!
Who wants to live in that kind of crisis?
I remember hearing a story of people stealing wheelbarrows instead of the money in them during germanys hyperinflation period.
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17 sats \ 2 replies \ @kepford 25 Apr 2024
This is a reason to invest it good tools. Bitcoin is great as a tool but it won't dig a hole. Don't buy crap. Spend wisely.
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68 sats \ 0 replies \ @Satosora 25 Apr 2024
Just reading that article made me keep blinking my eyes in amazement.
I didnt know people were that gullible.
Its like trying to sell shit as gold.
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