by Jimmy Dore catches onto MMT. It's quite a good interview where Stephanie Kelton explains how government deficits invest into the economy increasing economic activity which eventually pulls in more taxes which decreases the deficit. Jimmy Dore then asks why does the government ever have to borrow money, and Stephanie Kelton says it doesn't have to, and the interest paid on government bonds are just a free handout to the investment class. It has been mentioned here at MNE's that government bonds are a safe investment for people's pensions, and that sounds good, but if the government is underwriting the pensions why don't they just improve public pensions and cut out the middle man? There was a lot of talk in the UK a few years back about how the pension industry syphons off so much of the
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It has been mentioned here at MNE's that government bonds are a safe investment for people's pensions, and that sounds good, but if the government is underwriting the pensions why don't they just improve public pensions and cut out the middle man? There was a lot of talk in the UK a few years back about how the pension industry syphons off so much of the money that people pay into their pensions. The percentages charged look small on paper but it accumulates and rises exponentially as the years go by.