RE: Raising the minimum wage won't help
May 26, 2021 at 4:24 am
(This post was last modified: May 26, 2021 at 4:40 am by ignoramus.)
If govt debt (more accurately, trying to pay the ever increasing money borrowed just to service the interest payments on said debt) is not important, why bother taxing anyone? Let people have more money to spend and grow the economy?
MMT has always been a flawed theory. There is a cost to everything. The piper always gets paid back in the end. And it is always the consumer that has to pay it.
For what it's worth, we do have raging inflation right now. No need to wait for it. It is a direct effect of money printing. But instead of going into tomatoes bread and milk, people have tripped over themselves buying stocks and houses. Low interest rates are the honey pot for huge borrowing to buy these. Interest rates in the US will be 5-6% by the end of the year. Then the banker clears the table over the next 2-3 years. The biggest wealth transfer in history.
MMT has always been a flawed theory. There is a cost to everything. The piper always gets paid back in the end. And it is always the consumer that has to pay it.
For what it's worth, we do have raging inflation right now. No need to wait for it. It is a direct effect of money printing. But instead of going into tomatoes bread and milk, people have tripped over themselves buying stocks and houses. Low interest rates are the honey pot for huge borrowing to buy these. Interest rates in the US will be 5-6% by the end of the year. Then the banker clears the table over the next 2-3 years. The biggest wealth transfer in history.
No God, No fear.
Know God, Know fear.
Know God, Know fear.
