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TMBS - 77 - #GreenNewDeal & Roasting Rasta Kamala Harris ft. Mark Blyth (Patreon)

Published:
2019-02-13 00:01:06
Imported:
2026-06
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Starting a little after 7! Thanks patrons!

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TMBS - 77 - #GreenNewDeal & Roasting Rasta Kamala Harris ft. Mark Blyth

This is the free weekly edition of TMBS. To support the Michael Brooks Show on Patreon and receive hours of weekly members-only content, subscribe at Patreon.com/tmbs Follow The Michael Brooks Show and crew on twitter: @TMBSfm @_michaelbrooks @mattlech @davidslavick @davidgriscom

Comments

Bijou Smith

FARRRRKKKK!!! Finally some sense! All patreons and true lefties, listen to Blyth! No need for taxes to pay for universal programs. Deficits pay for this stuff, government deficit = private surplus. Taxes? Hell yeah... for redistribution of wealth stolen from the working class. BTW: business owners could be put on an equal footing with workers (e.g., worker coops) and there'd still be Minksy-type instability (aka. 2008)... it is the FINANCIAL sectors (F.I.R.E.) which sucks all the money out of real circulation. Felt like a breath of fresh air from Prof Blyth.

Bijou Smith
>>19856309

One bit of framing crucial for sustaining the austerity myth is "government debt". A government issuing a sovereign fiat currency can never be truly in debt, because it can always 'print money' (i.e., increment bank accounts using a keyboard) at will to honour any "debt". So it is WRONG to call government account deficits "debt". If you have an infinite reservoir of peanuts, but your store front jar is in 'peanut debt' (owes peanuts to folks who paid for them but did not get them) then you are not in debt, you have a peanut jar in deficit, and an infinite reservoir (your peanut minting factory) which just needs to be used. This is how a fiat currency works. It allows governments to always honour debts, so that the real focus of economic policy can be on resources. Then money (apart from inflation) is of no real concern. Money is fuel, resources (like teachers, hospitals, roads, electricity, water) are the engines. When you realize money is not really an issue for a Gov, but limits on resources are the only constraint on growth & sustainability, you will realize we can have full employment (job guarantee schemes at a living wage). This will never cause hyperinflation because the spending is on real goods & services (jog guarantees should not be hand-outs like UBI, or money for digging up holes and refilling them).