If thou gazest long into the Pit, the Pit will also gaze into thee

Interesting that a decade ago people thought Elevatorgate was a niche slice of political infighting. And yet we knew.

Dawkins' evil tweets:

In 2015, Rachel Dolezal, a white chapter president of NAACP, was vilified for identifying as Black.

Some men choose to identify as women, and some women choose to identify as men.

You will be vilified if you deny that they literally are what they identify as. Discuss.

I think it was the "discuss" part that really pissed off AHA.

Matt Cavanaugh wrote: ↑ Dawkins' evil tweets:

In 2015, Rachel Dolezal, a white chapter president of NAACP, was vilified for identifying as Black.

Some men choose to identify as women, and some women choose to identify as men.

You will be vilified if you deny that they literally are what they identify as. Discuss.

I think it was the "discuss" part that really pissed off AHA.

Of course it's nothing at all. The AHA will surely come to regret this, they've been teetering on laughing stock status for some time, now they've just tipped themselves into the shit pit.

Service Dog wrote: ↑ https://www.thesprucecrafts.com/thmb/zI ... 695b06.JPG


https://www.thepatrioticmint.com/pub/me ... -bu584.jpg

https://external-content.duckduckgo.com ... %3DApi&f=1

https://i.ebayimg.com/00/s/MTAyNFg1NzY= ... R/$_86.JPG

I have to assume you're being obtuse and/or disingenuous here.

AndrewV69 wrote: ↑ Meanwhile :

Looks like we have a replacement for Phil the Greek...

Lsuoma wrote: ↑ I have to assume you're being obtuse and/or disingenuous here.

Obverse.

Service Dog wrote: ↑

Mon Apr 19, 2021 7:45 pm

Matt Cavanaugh wrote: ↑ Judge Asks Jurors To Disregard Maxine Waters As She Pours Gasoline On Their Heads

Celebrity Influencer and Human Hashtag Barak Obama tweeted about "the heart-wrenching murder of George Floyd" 5 days ago, as the trial was in-progress. And a new round of riots and looting was in-progress.

Even conservatives preface observations on the matter with varying degrees of condemnation of Chauvin and I think that's an indication of how far SocJus think has infected everybody and radically altered the framing of interactions with authority. What did Chauvin actually do that was so bad? Even a prosecution witness acknowledged that he would have been within his rights to tase Floyd, yet he went with the less violent option and placed Floyd, who requested it, on the ground. There is no indication that he exerted excessive force with his knee or that he did anything that one would expect to block airways. Compare this to the Ashli Babbit case. Babbit was on what was essentially public property after police had stood aside to allow access and she was killed with an automatic weapon without any attempt at non-lethal means of restraint. The police officer in the second case is lauded as a hero by people who had previously encouraged attacks on Federal property. The second case was a cold-blooded execution by comparison to the first yet zero media complaint.

What if we strip-away the SJW social engineering from MMT ? What's left, then? Is there an healthy athlete under all that flab?

For example, this notion of a federal jobs guarantee. What if-- instead of the govt acting-as Employer for all-sorts of do-gooder jobs/ we just print money until Full Employment is reached via private sector hiring. This would remove the problem of unproductive govt jobs competing against productive private sector jobs.

And rather-than the government printing-money by spending it on a Progressive wish list of Big Govt projects... we just give hand-outs in equal-amounts to every citizen, Not according to their abilities and Not according to their need. In fact, we pair this with govt getting OUT of the social welfare business. No more 'free' public schools or govt health insurance. We just give people cash and they can spend that on private schools and private healthcare... OR NOT as they individually see fit. Or they can spend it on cigarettes and booze. Their business & their problem, not ours.

And so on. Wave bye-bye to Equity/Equality of Outcome... another cumbersome SJW tumor gone from MMT !

My improvements would make MMT far more fiscally fit for purpose... more of a workable Economic System. Plus my version would chase-away all economically-illiterate bunglers like AOC and hacks like Bernie Sanders. Which would also improve the quality of the product.

==

I still don't think it would work. But at least when it failed, we'd know whether it was the core concept which failed-- rather than the un-viable SJW add-ons.

All versions of MMT fail-- because the status quo already fails. And MMT only does MORE of the things which already Don't Work in the status quo.

MMT goes further in the wrong direction.

Lsuoma wrote: ↑ Looks like we have a replacement for Phil the Greek...

It's a Royal Knockout!

Verdict reached in Chauvin trial. To be read at 15:30 Central.

Guilty on all counts

John D wrote: ↑Guilty on all counts

Once they started excusing jurors who were afraid of having their house burned to the ground, it was a pre-determined outcome. Why weren’t the other jurors afraid? Because you don’t have to fear for your life if you know you’re going to vote to convict.

And I would not be convicted by a jury of my peers... still crazy after all these years

John D wrote: ↑Guilty on all counts

To be expected with almost no deliberation.

Attorney Branca wrote two recent blog posts about the closing arguments in the Chauvin case.

According to Branca-- the prosecution snuck-in several below-the-belt shots after the the final bell rang-- so to speak.

This post is about a false claim-- that Chauvin kept Floyd restrained for over 3 minutes-- while fully-aware that Floyd wasn't breathing:

https://lawofselfdefense.com/chauvin-tr ... pulseless/

This post is about the prosecution breaking minnesota law-- by insinuating that the defense had lied to the jury.
Aslo-- it covers the jury being sent to deliberate with false-or-unclear instructions:

https://lawofselfdefense.com/chauvin-tr ... ch-begins/

What hope is there-- of these objections winning on appeal? I dunno. Judge Cahill didn't see fit to declare a mistrial-- and the appeals court might be just as inert.

Jonathan Turley is appalled at the media coverage throughout:

https://jonathanturley.org/2021/04/20/b ... vin-trial/

Service Dog wrote: ↑ Attorney Branca wrote two recent blog posts about the closing arguments in the Chauvin case.

According to Branca-- the prosecution snuck-in several below-the-belt shots after the the final bell rang-- so to speak.

This post is about a false claim-- that Chauvin kept Floyd restrained for over 3 minutes-- while fully-aware that Floyd wasn't breathing:

https://lawofselfdefense.com/chauvin-tr ... pulseless/

This post is about the prosecution breaking minnesota law-- by insinuating that the defense had lied to the jury.
Aslo-- it covers the jury being sent to deliberate with false-or-unclear instructions:

https://lawofselfdefense.com/chauvin-tr ... ch-begins/

What hope is there-- of these objections winning on appeal? I dunno. Judge Cahill didn't see fit to declare a mistrial-- and the appeals court might be just as inert.

Cahill was surely cowed by the attention and threats, explicit and implied. On several occasions, he should've declared a mistrial.

snagged from Catturd

Minneapolis Star-Tribune doxxed the jurors:

https://amgreatness.com/2021/04/20/enem ... al-jurors/

Matt Cavanaugh wrote: ↑ Atheists for Liberty Statement in support of Richard Dawkins

Thanks! We at Atheists for Liberty will be tabling this weekend at Better Discourse 2 in Kenosha. Should be a great event again hosted by MythCon staff. Happy to meet anyone there.

(another thinking-out-loud post about MMT)


One way of looking-at MMT... is as a set of pieces, assembled in a certain configuration. Like puzzle-pieces in a puzzle.

Often, the first piece-- the introduction, the pick-up line-- is the Mystery Of The Missing Inflation. In which we are told that unprecedented Trillions in fresh new money was conjured into existence recently, but the new money defied expectations: Price Inflation did not ensue. And thus it MMT evangelists proclaim: Any Prior Economic Theory Which Predicted Inflation Has Now Been Smote-ed, And Only MMT Remains, The One True Theory.

Soon after, you're likely to be given another piece: The Allegory Of the Scorekeeper. In which we are told Where Do The Points A Sportsball Scorekeeper Uses To Keep Score Come-From? Lo!, They Spring Fully Formed From The Aether, From MMT-Zeus's Head. And thus the MMT Evangelists proclaim that we need not tax citizens to gather wealth to redistribute via govt spending. For money is nothing more or less than Scorecard Points.

Another piece is the bit-about how Inflation Only Occurs When Money Supply Exceeds The Productive Capacity Of The Economy.


Ok, so, but... Here's the thing...

as I went about my mundane business tonight-- shitting on the toilet, then playing a game of checkers-- my mind re-arranged the puzzle pieces.

If I were to grant that piece-after-piece of the MMT puzzle is valid... but I am able to arrange those same pieces in a different configuration/ so the completed puzzle shows a different image-- tells a different story-- just-as coherent as the MMT story-- then we don't have One True Theory anymore, we have two mutually-exclusive options.

So. Back to the top: MMT points-to all the money recently printed and asks 'Why No Inflation?' And MMT demands that any rival theory explain where the missing inflation went.

Ok-- now add in notion that the Money Is Just Scorekeeper Points Conjured From Nowhere. If I grant that to be true-- then Scorecord Point Money can be passed from virtual ledger to virtual ledger to virtual ledger... and all that pseudo-activity doesn't ever come into contact with the Real World Productive Economy... the place where actual, finite muscles need to flex to dig real mineshafts and lift real, finite heavy rocks out of the ground-- to bash into Iron and iPhones and Everything Else.

Oh snap-- what if That's Where All The Inflation Went?!!!.... the reason we aren't seeing Inflation appear on the real-world pricetags of real-world Hard Goods and actual blood, sweat & toil services.... is that the inflation is still trapped in the accounting labyrinth of Ones And Zeros in Scorecard-land.

A hundred million dollars is conjured into existence, 'on paper'. And all of that $100 Million is used to buy stock in a deli in New Jersey. The deli never generated more than $30,000 in a year-- and it has been closed due to Covid-- so Zero of the $100 Million is being used to spread real mustard on real sandwiches. So ya don't see any inflation in the actual prices of mustard or bread or sandwiches. True story: https://www.cnbc.com/2021/04/15/hometow ... stock.html

I read an article-- I think it was in Business Insider-- about-how Oil is bought exclusively in Dollars. Petrodollars, they call 'em. Real oil is pumped out of the ground in shithole sand countries... and there's real work involved. And anyone who wants to buy some-- needs to obtain some US Dollars to buy the oil with. But we wouldn't see any inflation in the price of oil unless the Productive Capacity of The Oil Industry was maxed-out. Oh fuck-- we DO see inflation in the price of petroleum/ simultaneous with the trillions of new dollars recently being 'printed'. Yeah, you can explain-away the Inflation by attributing it to Biden shutting down the Keystone XL pipeline project, or that ship blocking the Suez, or Telsa selling more non-petrol cars... or any number of infinite variables. Suddenly everything doesn't seem so SIMPLE does-it?... when MMTheory is threatened and it's advantageous to suddenly notice complex details, to hide behind.

this post has served its purpose: I've released the stray thought which were kicking-around in my mind. I can sleep restfully now.

Saint Fentanyl V0.2



She wuz a good gurl, she dindu nuffin' wrong!

https://pbs.twimg.com/media/Ezd211wXEAI ... me=900x900

Ok, Americans (*cough*white*cough*), once again it's time to don your bullet-proof vest, kevlar helmet, sandbag and fireproof your house/shop then ride out the storm that's surely inbound!

Yeehaw!

Al Sharpton in 3...2...1...

https://www.bleepstatic.com/content/pos ... Begins.jpg

She was such a sweet child. She only ever stabbed bitches who was axing for it.

Matt Cavanaugh wrote: ↑She was such a sweet child. She only ever stabbed bitches who was axing for it.

I don't understand how they can claim to live in poverty, even their lawn ornaments wear designer sneakers!

https://i.ytimg.com/vi/bcYppAs6ZdI/hqdefault.jpg

My twitter ban is up in 24 hours so I need to find a suitably offensive joke...

Between Biden, wacko Democrats, Saint-Floyd and BLM ... I’m fairly confident in declaring American “screwed” ™️

Welcome to the club.

Yes, Kelton Knows about Inflation

At this stage of the argument, the obvious retort for any postpubescent reader will be, “But what about inflation?!” And here’s where the critic of MMT needs to be careful. Kelton repeatedly stresses throughout her book—and I’ve seen her do it in interviews and even on Twitter—that printing money is not a source of unlimited real wealth. She (and Warren Mosler too, as he explained when I interviewed him on my podcast) understands and warns her readers that if the federal government prints too many dollars in a vain attempt to fund too many programs, then the economy will hit its genuine resource constraint, resulting in rapidly rising prices.

As Kelton puts it:
Can we just print our way to prosperity? Absolutely not! MMT is not a free lunch. There are very real limits, and failing to identify—and respect—those limits could bring great harm. MMT is about distinguishing the real limits from the self-imposed constraints that we have the power to change. (Kelton 2020, p. 37, bold added)

In other words, when someone like Alexandria Ocasio-Cortez proposes a Green New Deal, from an MMT perspective the relevant questions are not, “Can the Congress afford such an expensive project? Will it drown us in red ink? Are we saddling our grandchildren with a huge credit card bill?” Rather, the relevant questions are, “Is there enough slack in the economy to implement a Green New Deal without reducing other types of output? If we approve this spending, will the new demand largely absorb workers from the ranks of the unemployed? Or will it siphon workers away from existing jobs by bidding up wages?

This section is not really about inflation rather, to my reading, it is taking a poke at a policy agenda without applying the same lens to the policy agendas of others. It has moved from the descriptions, principles, and causalities that form MMT to a proposed operationalization of the Theory.
There is no policy agenda implied by MMT. It is a theory to explain modern macroeconomic dynamics.

MMT is operationalized when spending policy is applied through a values/ideological lens. A person who understands MMT but has an ideology or set of values that could be classed as left-wing would come up with a different policy set than a person who understands MMT but has an ideology or set of values that could be classed as right-wing. A left-wing oriented person may be more interested in addressing the inequality caused by a system that rewards capital ownership over hard work, whereas a right-wing oriented person may be more interested in policies that reward individual wealth accumulation over gainful employment for all that want it.

Yes, certain economists with an understanding of MMT are using it to promote a policy platform that seeks to address unemployment. Others see it as an opportunity to invest in environmental repair, recognizing that the claim that it cannot be afforded is false. Whether it will achieve the intended outcomes will depend on many different factors, including how spending/investment is targeted.

Incidentally and for example, Murphy could have asked similar questions of regarding the cost: benefit of Trump’s tax relief policies. Can the Congress afford to dispense with all this revenue (taking the orthodox economic line) given that the national debt has increased from about $20 trillion to about $27 trillion during Trump’s tenure?

What MMT tells us is that the extra $7 trillion dollars is now cash/financial assets in the non-government sector of the economy. What analysis of the distribution of that extra cash in the economy tells us is that the likes of Doggie have seen fuck all whereas a fair few millionaires and billionaires have been able to buy another yacht and increase their paper net worth on the growth of share market prices. This is because the policy choice (right-wing) was to target spending in the financial economy rather than the real economy (left-wing). Has that extra $7 trillion resulted in runaway inflation or siphoned existing workers away from existing jobs by bidding up wages? No, but it has widened the gap between the haves and the have nots.

I started by saying that this section is not really about inflation, but this is an issue that requires addressing. I will try and look at that in my next issue of calcium carbonate to the porcine (Doggie expects nothing less from me. He's probably reading my words in a sinister British accent).

Well this would be a new level of dystopia.

Happy 40th anniversary for the Lord of the Rings.

The 1981 BBC radio drama, that is.

Also available in book and movie form.

MarcusAu wrote: ↑ Happy 40th anniversary for the Lord of the Rings.

The 1981 BBC radio drama, that is.

Also available in book and movie form.

Lat onreinn kumbon-mubaram!

https://i1.sndcdn.com/artworks-00058203 ... 00x500.jpg

I still think it's the greatest work of fiction ever written.

Brive1987 wrote: ↑ Well this would be a new level of dystopia.

I've never trusted cloud computers. I run my own servers to avoid having to use it. Only thing that is surprising is how quickly the problems obvious from the start have arrived.

Kiwi--

Good to see you continuing to tackle Bob Murphy's review of Kelton's book. I thought you might give up.

Unfortunately, you haven't corrected your aim, since the last installment.

I warned you then-- not to mistake Bob Murphy for a proponent of the status quo. Murphy does NOT let Trump & the Republicans off the hook for their spending sprees. The only reason he doesn't dwell on that in this review-- is that this review is a response to Kelton's book. And Kelton was an advisor to Bernie Sanders and AOC's campaigns. And Kelton waves her Progressive Shopping List around as a selling-point of MMT. As does Kiwi's recommended-reading: Bill Mitchell-- who traces his Labor Theory Of Value ideas back to Marx & touts MMT as a way to pay for his Guaranteed Do-Nothing Government Jobs For Drunk Aborigines program. (Apparently known by the acronym "G.A.I.N.F.U.L." Employment.) Because those jobs don't fit any other normal definition of 'gainful'.

Right now-- The United States is controlled at the Federal level by Joe Biden and Kamala Harris and Nancy Pelosi and their Cronies in Media and Academia and Career Bureaucrat positions. They talk like a leftwing dream come true: Open Borders, Free College & Healthcare for Wetbacks, Reparations for Slave-spawn, 99 Trillion Dollar Green New Deal, Bailing-out state's govt-worker pension funds, 'fixing' shithole countries by sending Them infrastructure-- such installing street lights in dangerous neighborhoods in Honduras-- so the locals don't want to leave. Free govt rehab for anyone who is arrested in the illegal drug trade. The only flaw in this Leftwing Wetdream-- look at the job they're doing at the border. And with racial unrest. And with everything-else. I've got give them credit: If you spend a trillion bucks on electric bullet trains/ but the trillion bucks is given to Hunter Biden in a corrupt insider nepotism embezzlement scam-- and then Hunter loses the laptop with the Trillion zeros on it... you've successfully avoided that money ever Inflating any real world prices.

The one area where Biden _is_ making the green bullet trains run on time... is the War Machine. He's bombing Syrians and rattling sabres at Russia (AND at Ukraine! wow!) he's fortifying the perimeter of the US Capitol.

Can you agree that it's waaaaaaaay more likely that the actual real-world Democrats In Charge would use MMT to enrich the same old Military-Industrial Complex, the same old Wall Street Fatcats... rather than turn AOC's utopian crayon-drawings into reality?

==

Kiwi-- So Far, your response posts have covered Bob Murphy's introductory paragraphs and the First Two sections titled with bold, blue sub-headings.

I hate to tell ya-- but so-far you've only jousted with parts where Murphy set-the-stage by summarizing Kelton's thesis. Your Kathy Neuman psychic powers imagined a lot of "so what you're saying is" normie/Keynesian/Trump-apologist innuendo-- reading-between the actual lines Murphy wrote. You've been fighting your own Dunning-Krueger shadow.

The place where you stopped reviewing-the-review was the sentence immediately-before the next subheading. Which begins thusly...

THE FUNDAMENTAL PROBLEM WITH MMT

"Now that we’ve set the table, we can succinctly state the fundamental problem with Kelton’s vision..."

Other subheadings to look forward to:

TOUGH QUESTIONS FOR MMT

MMT IS ACTUALLY WRONG ABOUT MONEY

• Money Mistake #1: The Treasury Needs Revenue Before It Can Spend
  Money Mistake #2: Taxes Don’t Prop Up Currencies
  Money Mistake #3: Debt Isn’t Money

DO GOVERNMENT DEFICITS EQUAL PRIVATE SAVINGS?

THE MMT JOB GUARANTEE
"The last item I wish to discuss is the MMT job guarantee. Strictly speaking, this proposal is distinct from the general MMT framework, but in practice I believe every major MMT theorist endorses some version of it..."


CONCLUSION
" Stephanie Kelton’s new book The Deficit Myth does a very good job explaining MMT to new readers. I must admit that I was pleasantly surprised at how many different topics Kelton could discuss from a new view, in a manner that was simultaneously absurd and yet apparently compelling.

spoiler alert:
One more thing...

KiwiInOz wrote: ↑ What MMT tells us is that the extra $7 trillion dollars is now cash/financial assets in the non-government sector of the economy. What analysis of the distribution of that extra cash in the economy tells us is that the likes of Doggie have seen fuck all whereas a fair few millionaires and billionaires have been able to buy another yacht and increase their paper net worth on the growth of share market prices. This is because the policy choice (right-wing) was to target spending in the financial economy rather than the real economy (left-wing). Has that extra $7 trillion resulted in runaway inflation or siphoned existing workers away from existing jobs by bidding up wages? No, but it has widened the gap between the haves and the have nots.

I don't think the US Govt should have used Freddie Mac and Fanny Mae to inflate the subprime housing market. I don't think Obama should have bailed-out the too-big-to-fail banks, I think Trump spent other-people's-money like a proverbial drunken sailor. I don't think the govt should have Locked Down the economy due to Sniffles/ nor should the govt have handed-out Stimmy Checks to proles and Giant Corrupt Insider Payoffs to their Corporate Cronies. I only expect MMT to be used for more-of-the-same. The MMT people who only see upside... not from the specific policies enacted, but also from the MMT MEANS USED to achieve those policies. i DO see a real cost to the MMT polices having been used.

The place where you're the furthest off-the-mark is regarding "the likes of Doggie". It's a trivial, anecdotal, an n=1, but... I'm WAY closer to the Billionaires With Yachts-- on the trickle-down diagram... than you realize. One of my closest contacts is a billionaire moron who literally sank two yachts in a single year... because he was too high on weed to remember to close a bilge valve at the end of a jaunt. Next day-- yacht at the bottom of the same marina where the Cuomo brothers keep their yachts. He was sad that he couldn't go yachting with his sons. So his ex-wife bought him another yacht... and he did it AGAIN. But, hey, at least he introduced me to the fishing boat captain. And who do you think I sell the fish to, in the ritzy farmer's market? Rich fucks. Our Tuna is $24 a pound. Same when I was working on Fashion Week and moving art for Galleries... My near-poverty bohemian lifestyle is only possible because I'm close-enough to the fatcat's largesse... that my wages are VERY inflated. Nobody in CHAZ can pay me $1400 to paint an apartment wall only 14 feet wide. Or $200 to hang 2 poster-sized warhols on a wall in 5 minutes.

Mandela-tier sign language interpreter in the press conference clips...

Service Dog wrote: ↑

Did Nancy also quote Floyd's last words?

I ain't that kinda guy! I ain't that kinda guy!

'Tis a far, far better thing that I do, than I have ever done; 'tis is a far, far better rest that I go to than I have ever known.

We're waiting any minute now for AHA to withdraw PZ Myers' 2019 Humanist of the Year award.

#AHAmustdenounce

Since humanism is an evolving philosophy where we continually strive for improvement, some awardees we recognized in the past would no longer meet our current standards. As humanists we also recognize that people are imperfect and may at times lose sight of the values and ethics that previously guided their humanistic behavior.

The Badass Motherfucker problem.

justinvacula wrote: ↑ We're waiting any minute now for AHA to withdraw PZ Myers' 2019 Humanist of the Year award.

#AHAmustdenounce

Since humanism is an evolving philosophy where we continually strive for improvement, some awardees we recognized in the past would no longer meet our current standards. As humanists we also recognize that people are imperfect and may at times lose sight of the values and ethics that previously guided their humanistic behavior.

It is hard for me to even believe that I was an AHA celebrant and performed a wedding ceremony as such. Haha. This was about 6 years ago...back when AHA at least made a bit of sense.

I used to get angry with all the conservatives who claimed atheists where communistic. I am a lifelong atheist, but I have certainly never been a Marxist. The problem is that almost all the other atheists in America really are Marxists. WTF!!!! I have no home.... haha.

KiwiInOz wrote: ↑Has that extra $7 trillion resulted in runaway inflation or siphoned existing workers away from existing jobs by bidding up wages? No, but it has widened the gap between the haves and the have YACHTS.

FTFY.

KiwiInOz wrote: ↑

Wed Apr 21, 2021 12:04 am

Yes, Kelton Knows about Inflation

At this stage of the argument, the obvious retort for any postpubescent reader will be, “But what about inflation?!” And here’s where the critic of MMT needs to be careful. Kelton repeatedly stresses throughout her book—and I’ve seen her do it in interviews and even on Twitter—that printing money is not a source of unlimited real wealth. She (and Warren Mosler too, as he explained when I interviewed him on my podcast) understands and warns her readers that if the federal government prints too many dollars in a vain attempt to fund too many programs, then the economy will hit its genuine resource constraint, resulting in rapidly rising prices.

As Kelton puts it:
Can we just print our way to prosperity? Absolutely not! MMT is not a free lunch. There are very real limits, and failing to identify—and respect—those limits could bring great harm. MMT is about distinguishing the real limits from the self-imposed constraints that we have the power to change. (Kelton 2020, p. 37, bold added)

In other words, when someone like Alexandria Ocasio-Cortez proposes a Green New Deal, from an MMT perspective the relevant questions are not, “Can the Congress afford such an expensive project? Will it drown us in red ink? Are we saddling our grandchildren with a huge credit card bill?” Rather, the relevant questions are, “Is there enough slack in the economy to implement a Green New Deal without reducing other types of output? If we approve this spending, will the new demand largely absorb workers from the ranks of the unemployed? Or will it siphon workers away from existing jobs by bidding up wages?

This section is not really about inflation rather, to my reading, it is taking a poke at a policy agenda without applying the same lens to the policy agendas of others. It has moved from the descriptions, principles, and causalities that form MMT to a proposed operationalization of the Theory.
There is no policy agenda implied by MMT. It is a theory to explain modern macroeconomic dynamics.

MMT is operationalized when spending policy is applied through a values/ideological lens. A person who understands MMT but has an ideology or set of values that could be classed as left-wing would come up with a different policy set than a person who understands MMT but has an ideology or set of values that could be classed as right-wing. A left-wing oriented person may be more interested in addressing the inequality caused by a system that rewards capital ownership over hard work, whereas a right-wing oriented person may be more interested in policies that reward individual wealth accumulation over gainful employment for all that want it.

Yes, certain economists with an understanding of MMT are using it to promote a policy platform that seeks to address unemployment. Others see it as an opportunity to invest in environmental repair, recognizing that the claim that it cannot be afforded is false. Whether it will achieve the intended outcomes will depend on many different factors, including how spending/investment is targeted.

Incidentally and for example, Murphy could have asked similar questions of regarding the cost: benefit of Trump’s tax relief policies. Can the Congress afford to dispense with all this revenue (taking the orthodox economic line) given that the national debt has increased from about $20 trillion to about $27 trillion during Trump’s tenure?

What MMT tells us is that the extra $7 trillion dollars is now cash/financial assets in the non-government sector of the economy. What analysis of the distribution of that extra cash in the economy tells us is that the likes of Doggie have seen fuck all whereas a fair few millionaires and billionaires have been able to buy another yacht and increase their paper net worth on the growth of share market prices. This is because the policy choice (right-wing) was to target spending in the financial economy rather than the real economy (left-wing). Has that extra $7 trillion resulted in runaway inflation or siphoned existing workers away from existing jobs by bidding up wages? No, but it has widened the gap between the haves and the have nots.

I started by saying that this section is not really about inflation, but this is an issue that requires addressing. I will try and look at that in my next issue of calcium carbonate to the porcine (Doggie expects nothing less from me. He's probably reading my words in a sinister British accent).

Who is arguing with you about shoveling money to the rich? Bernie Bro's and MAGA hatters are bedfellows in that regard. Has nothing to say about where that money comes from.

Let's ignore for the moment the evidence that tax reductions have been known to INCREASE revenue. We all know where the extra money has gone. What do you imagine would happen if that money ended up in the pockets of Joe Public? I seem to recall that a boatload of people on the right have been warning about the cost of interventionist wars for a long time precisely because they do apply the same objections as they do to MMT. Even the hawks would balk at shelling out tens of trillions at a stroke though.

Careful with calls to cut US military spending. Antipodes might end up having a nasty run-in with Winnie-the-Pooh.

When did the 'Pit's favoured perennial PhD candidate graduate, and become a tranny?

https://twitter.com/jeymccreight

How exciting. He/she/it/whatever resurfaced to stick the knife into Dawkins once more.

Dear God

@Bhurzum roughly how many pints?

Sulman wrote: ↑ Dear God

More proof it's a trend. These people are insane, but they're not suffering from any true dysphoria; they're just desperate to fit in. They want to join the cult.

So Tits McGee is Nuts McGee now, huh? Hairy, too? Well... Welcome to the White Cock of Authority, Tits. :cdc:

Lsuoma wrote: ↑

KiwiInOz wrote: ↑Has that extra $7 trillion resulted in runaway inflation or siphoned existing workers away from existing jobs by bidding up wages? No, but it has widened the gap between the haves and the have YACHTS.

FTFY.

Pitchguest wrote: ↑

Sulman wrote: ↑ Dear God

More proof it's a trend. These people are insane, but they're not suffering from any true dysphoria; they're just desperate to fit in. They want to join the cult.

So Tits McGee is Nuts McGee now, huh? Hairy, too? Well... Welcome to the White Cock of Authority, Tits. :cdc:

I think it's so weirdly predictable and sad.

Service Dog wrote: ↑

Lsuoma wrote: ↑

KiwiInOz wrote: ↑Has that extra $7 trillion resulted in runaway inflation or siphoned existing workers away from existing jobs by bidding up wages? No, but it has widened the gap between the haves and the have YACHTS.

FTFY.

Hint: Pronouns are Malarkey/Cornpop & C'mon-Jack!

Google censors Dr. Ron Paul's Liberty Report, removing the channel from YouTube. For questioning Bill Gates' motives in healthcare endeavors.

Or maybe for reporting on Maxine Waters inciting riots. Or any number of other taboo subjects.

https://reclaimthenet.org/youtube-censo ... ill-gates/

Pitchguest wrote: ↑

Service Dog wrote: ↑

Lsuoma wrote: ↑

KiwiInOz wrote: ↑Has that extra $7 trillion resulted in runaway inflation or siphoned existing workers away from existing jobs by bidding up wages? No, but it has widened the gap between the haves and the have YACHTS.

FTFY.

Ah, Throatwobbler Mangrove.

I read two delightful MMT-related articles today.

The first is a tour of the history of Zaire's currency. It has the same appeal as similar stories about other countries' hyper-inflation-- where wheelbarrows of cash barely buy a loaf of bread.... and... while you're haggling about how many millions the bread costs/ thieves dump-out the cash to steal the wheel barrow.

MMT apologists will find PLENTY of reasons to say the Zaire story doesn't besmirch the good honor of MMT. But it's a good read & a good refresher on the orthodox economics which MMT claims to upend:
https://www.zerohedge.com/political/int ... not-answer


The second link is much more of a FATAL BLOW against MMT. It answers the question 'Where's the Inflation, hunh?!'

It confirms my amateur hunch-- that trillions in Loose Money liquidity from the Fed-- has been parked-in the 'vaults' of Giant Investment Banks. The liquidity was never splashed into the market for Consumer Goods, so the price of Consumer Goods was not inflated.

AND-- at the same time the banks were busy NOT giving-out loans, the banks WERE busy accepting deposits. This part does match MMT theory: if a govt only taxed/ but did not spend any of the taxes it collected... that would be Deflationary. Same with giant banks that only accept deposits, but don't loan money back out.

All this may sound boring, but the writer describes it better than I do. And there's wow-factor fireworks in the charts showing a huge recent deviation from historic trends.

https://www.zerohedge.com/markets/stunn ... ial-system

She was problematic as a horse. She’s ridiculous as a man.

Definite mental illness.

Also 'problematic'... naming herself "Dr. Jey"

https://www.nba.com/nets/sites/nets/files/erving.jpg

A new card for your avatar to brandish, Brive...

Brive1987 wrote: ↑ She was problematic as a horse. She’s ridiculous as a man.

Definite mental illness.

I'm heartbroken.

Although ... she's still a mare where it counts, right?

Matt Cavanaugh wrote: ↑

Brive1987 wrote: ↑ She was problematic as a horse. She’s ridiculous as a man.

Definite mental illness.

I'm heartbroken.

Although ... she's still a mare where it counts, right?

Positive she's a total fucking 'mare.

It's tragic really. You can practically see this sort of bullshit coming. Who is that other cunt that tried passing as a woman by throwing on a frock and some lipstick? Another pit favourite. He goes by Daniele now, I think. A proper horror show.

Service Dog wrote: ↑ A new card for your avatar to brandish, Brive...

"PLEASE DON'T MAKE ME CONSIDER FOR A NANOSECOND THE NOTION OF ACCOUNTABILITY"

Your weight contributes to your weight stigma, you fucking pig.

So, is Boobquake still on?