Every time I read a take like this I remember that quote about people being able to see the end of the world but not the end of capitalism. Why are we worried about an economic crisis instead of imagining a post scarcity world in which we automate all labor? Maybe I’ve got too much of an optimist in me.
Are you a journalist by any chance?
Any ideas on how Trump might clap back?
I don’t know enough about programming to do it myself so I like to look at what the community says. This is one thing we’re AI could be very helpful no?
Reminder that absolutely no one has anything nice to say Ted Ratto Cruz. His own party hates and him even his constituents hate him.
I guess you could call it that.
It’s the first and second point of the white paper but ok.
You do not understand MMT.
Edit: The reason I say that is because MMT basically says the opposite of what you just wrote there. A Government that mints their own currency doesn’t need to take any loans to spend money, all they have to do is print more money.
It would have been a byproduct I agree, but it’s one that he’s aware about it even if it’s not the goal. I don’t care about his goal, those are always misaligned . I care about what the actual effect is. Again, the breaking of the economy is more of a feature than a bug. I said this already.
Now I would need to write an essay here to explain why that is a somewhat necessary thing but I won’t. I’ll just say that no paradigm change has happened without pain, so we either accept the pain or we let things hum along and hope that they get better (they wont, the existing structures will only calcify more until change is impossible and collapse ensues)
I hope the next president gets the vision, but they will inevitably be a neoliberal corporat so, fat chance of that happening.
MMT doesn’t rely on being the reserve currency. In fact I think it sometimes argues against it? I’m not an expert on everything MMT yet though, so I can’t speak to that point.
But fair point yes, the implementation as not great. That still doesn’t mean that it wouldn’t have had some very good effects for the rest of the world even at the cost of US hegemony. (Since when that became a good thing anyways?)
No u
Lol
This particular strain of brainrot is so funny to me.
It would have been a byproduct of them that I believe he doesn’t give a fuck about, but he has allude to in a few occasions.
I agree on the second point. The tariffs needed to be wide ranging but somewhat phased. But he can’t do that because he knows he doesn’t have the time, so like everything else he’s doing it with the startup mentality of move fast and break shit. Which I favor in this particular case because I don’t see a neoliberal corpo puppet democrat pushing for tariffs ever.
Sure the implementation is fucked. But the basis of it is not necessarily bad. And I believe that even botched implement would have resulted in long term gains that would have been beneficial.
Also economic experts are almost exclusively coming from a neoclassical vision, which is incomplete because it disregards the role of money. Modern Monetary Theory simply fixes that limitation and adds a new perspective that is more complete than the neoclassical vision.
https://docs.google.com/document/d/1gvDcMU_ko1h5TeVjQL8UMJW9gmKY1x0zcqKIRTZQDAQ/mobilebasic
When the experts of any given field are said that they are incorrect they tend to react with rejection, so it is no surprise that they would reject MMT, as it destroys a lot of what their work has been based on. So don’t just listen to what the experts say, they have incentives to reject revolutionary ideas in their field.
You raise some excellent points. What’s your Substack so I can read more about your nuanced, well thought out out political takes?
Yeah medicine is bitter. People can suffer now, or they can suffer later but the path we’re on will lead to suffering all the same. I prefer to suffer now frankly.
Edit: Let me get into this a little bit more, do you think the current economy is unfair to everyone except the elites? Your guttural reaction to this tells me that you might be, as most people on Lemmy. Well here’s the thing, changing the way things work, a revolution if you’d like to call it that but I don’t because it conjures images of a big uprising and I don’t think that’s necessarily how it’s gonna happen, will result in an upending of the system in such a way that it will be inevitable that people suffer. Change in human systems is followed or preceded by suffering. The possibility of suffering should not stop us from doing what will be best for future generations. I don’t understand where this mentality of avoiding suffering at all costs came from, but all it leads to is complacency and a continuation and proliferation of the current system. The worst thing is that the people that profess it the most tend to call themselves “leftists” which boggles my mind.
The funniest thing is that wide sweeping tariffs are the most left coded action a president has taken since the establishment of social security. People really have lost all objectivity when it comes to Trump or his policies. The entire identity of the “left” in the US has become their opposition to him and his policies.
It’s been mostly on podcasts, mainly 1Dime radio which has been having MMT people for a while and I highly recommend. But I believe this blog post by Bill Mitchell, who is one of the main forces behind Modern Monetary Theory enters into the rationale of why he would think the tariffs have a solid foundation:
Best argument yet.
It doesn’t matter if he considered the conditions because he can’t force them to stop exploiting their workforce. But the net effect would have been a floor to the price of production at a global level so corporations would have to choose between slave labor, complex supply chains and overseas shipping costs or domestic labor with lower shipping costs and somewhat simpler supply chains.
Yes the economy would suffer. Medicine is bitter. The option is watching the train derail in slow motion.
Why do you call her Barbie? It implies that she’s hot but she’s not. I mean from afar she kinda looks hot I guess but once you close in she looks like a dried mango.