Nobody in any position of power and influence will talk about how they see the economy works as they see it in reality. Only the carefully vetted long trained through the process of lies and deceptions and the economic hypothesis presented by the cannon giants of the wealth consensus can be consulted and then their proclamations parroted far and wide.
Take Modern Monetary Theory. First it is not a hypothesis , and it is not a model, it is in practice how manye is and had been created for a long time, in my unapproved view since the very first warlord or tribal leader said , looky here this is money and you all can use it to trade things and most importantly to pay me tribute or tax or tithe or whatever nonsense prevails at the time. Reality is that those in power and with influence create money right now in the United States and elsewhere with mechanisms given all sorts of convoluted names and justifications and explanations that function to create money out of nothing based on some agreed upon methodology and backed by accounting and issueance of promisorry notes or treasuties or whatever, and or to banks and the so called "Primary dealers" at the Federal Reserve Window. Thats all you need to know. An authoritative official or news reporter in the financial news will proclaim the "Fed Window is Open for Primary Dealers to come and bid on 50 Billion of Treasuries" , Oh yes yes of course why how wonderful I see, I understand. The Debt ceiling for the Federal Government will be raised so that the government can pay its bills. The Federal reserve is putting in effect quantitative easing and injecting 100 billion a month into the economy??? Really? How so? Oh its complicated you must be a PHD economist to understand but they - blah blah blah, issue pieces of paper or digital contracts and wealthy people get these, and then the government pays them interest. Oh um, if the government does not have any money how can they pay interest? AH, shut up ignorant fool. If there are all these very wealthy fine upstanding capitalists and bankers who have the money to buy all these treasuries and loan to the government wouldn't it be a lot better to tax them to get the money as they are clearly showing a disability to take the money as hypothezized for a capitalist system and re-invest it, they are just hoarding it and refusing to invest it, or give it away, or do anything to benefit society, one might even think they are holding the entire nation hostage. "Knave"
Recently we have seen the Federal Reserve just jacking money into the economy, basically , Modern Money theory, Socialism for the Wealthy and socialism to bale out corporations and the stock market and to inflate real estate and stock prices. For what purpose I am not really clear on. But, the money is created and it goes straight to the top and creates a spiral of inequality, and am incredible waste as it bypasses the demand side, the people of the nation and ends up being corraled and controlled by a very few people who are very risk averse canot think of anything to do with the money except replow it into already existing assetts and already dominant old out of date corporations and locking in the technology and systems we have into stagnation and locking out new innovation, and also into the military industrial fossil fuels empire of global militarism and corruption. So we Have Modern Money Theory, and its not for you. Not for Health care, Not for education, not for housing, not for the environment, not for stopping war and building peace, not for transforming to a sustainable society. No not at all it is for maintaining a trillion dollar a year militarism, a few hundred old outdated corporations including our now so called high tech and medical sectors and keeping a few thousand super wealthy people rich beyond the dreams of Royalty of old and the few million people who do very well just having a lot a lot of money, way more than you could ever figure out how to spend with a small army of purchaders and what to buy advisors.
No comments:
Post a Comment