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The government doesn't borrow. It physically CANNOT borrow dollars unless it spends the dollars into the economy first. There is no debt. It's just untaxed dollars in the hands of the world. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes Follow me on Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/
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The government doesn't borrow. It physically CANNOT borrow dollars unless it spends the dollars into the economy first. There is no debt. It's just untaxed dollars in the hands of the world. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes Follow me on Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/
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| The government doesn't borrow. It physically CANNOT borrow dollars unless it spends the dollars into the economy first. There is no debt. It's just untaxed dollars in the hands of the world. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes Follow me on Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ |
So, I am having a bit of trouble on this technicality: are reserve dollars and securities dollars a form of National Debt, or just securities dollars?
I think we should balance the budget because I want the big bad gubberment to take all my money.
Economist here. Atlanta Fed GDP forecast most likely lags the stock market. The higher revisions your seeing are due to the summer run in the market. Forecast will probably come down in the next few weeks.
So wouldn’t “paying down the debt” reduce or eliminate some of that US$31 trillion and be deflationary?
RIGHT ON, MAN. To date, I think John Yarmuth has been the only legislator who's come out and told the truth. Sadly, he's retiring this year. Finance industry bigwigs like the late billionaire Pete Peterson, (who was behind the egregious Fix The Debt movement), pay politicians and the media to lie. That's why it's so important for us to debunk this bs. Each one teach one. It seems like a full time job, but it's essential. Keep telling the truth, Mike. Your voice is important. More and more of us have been getting it over the past few years.
"Both Sides" stop the war? What happens if Russia stops the war. They withdraw from Ukraine. What happens if Ukraine stops the war? Russia takes over Ukraine. Yeah, it would be nice if "both sides" stopped the war, but it is really one side that can easily stop the war by withdrawing from Ukraine.
I wish you would talk about inflation. I know MMT. The debt is the money supply. A big money supply/debt and a small pile of stuff is how you get inflation. We are trying to grow the pile of stuff and shrink the money supply which means spending less and producing more. How do you know that spending turns into production? What are you looking at that makes you confident as the pool grows it's not adding to the inflation problem. Honest questions for a fellow MMT enthusiast.
I am sorry to say but: There is two thousand years of Christianity and its apocalyptic predictions that have never come true and yet people still believe in it whole heartedly that goes against your notion that there will be a lightbulb moment. This notion of a debt that is going to destroy us one day, like magic, is something that could be sustained indefinitely, because apocalypse is just a kink that humanity likes to jerk itself off over. Always has been, likely always will be.
Maybe not national debt since you can print dollar, but call it national inflation…
“Print” as opposed to what?
@Man In A Pit As oppose to "earn". As an honest nation who is not living on the back of the rest of the world since Nixon.
If $31T is the dollar part of the world's wealth, how do you factor in the market cap of all the sectors? For instance, US real estate market cap alone is $43T, Gold is $11.2T, etc. This is going to be far more than the wealth in dollars.
Beautifully explained, Mike. Thank you.
Great vid/lecture, MN
but why governemt has monopoly to spend, why not people like helicopter money?
Underrated channel…
The Federal Reserve is not Federal and has no reserves. It is a private bank, and they issue credit to the US Gov. We use to Print our money, but that stopped under Kennedy. GDP is now measured by our spending, which is up due to inflation……the FACT is it now takes more hours of work, to buy the same gallon of gasoline, or pound of beef etc. That is the real measure of the economy……and this one sucks.
If GDP goes up the stock market will go up
Thank you Mike:)!
💛👁
Absolutely correct, but you have not even mentioned, fractional banking, that will blow people's mind , you skipped over a very important point that interest is payed to the bank on government bonds, do people understand the implications of this valid point.
Not stopping the naZis who invaded Ukraine is a bad precedent. It.encourages them, and any country, that by just mentioning nukes, they can take any country
No need to let them take 45 countries before stopping them. Stop them now
Biden is way too soft on the fascists…..he should strike them in Ukraine and.end this daily horseshit