Biden’s Head Of Economic Advisors Try To Explain Government Borrowing
MMT says government is different. It owes the money to itself and the debt can be canceled at will. In MMT theory, a benevolent government would spend the money wisely, cancel all the debt or pay interest to itself, and everyone will essentially live happily ever after.
The notion is really amusing. But it was more amusing watching Bernstein try to address a question on it.
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I saw this on several tweets and then on Zerohedge prior to posting. The song “Money for Nothing” kept coming to mind except the reality for the FED is money from nothing. Have you seen the movie Idiocracy?
David DeGerolamo
Source: https://ncrenegade.com/bidens-head-of-economic-advisors-try-to-explain-government-borrowing/
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