#stephanie-kelton — Public Fediverse posts

“The U.S. government is not like a household. It is the issuer of the currency. It doesn’t need to ‘get’ money from anyone else—not from taxpayers, not from China.”

– Stephanie Kelton (economist, former US Senate Budget Committee Chief Economist)

#slogan #quotes #debt #deficit #money #Fed #currency #MMT #power #transactions #policy #government #politics #economy #credit #economics #USPol #USA #Treasury #Kelton #StephanieKelton

“The U.S. government is not like a household. It is the issuer of the currency. It doesn’t need to ‘get’ money from anyone else—not from taxpayers, not from China.”

– Stephanie Kelton (economist, former US Senate Budget Committee Chief Economist)

#slogan #quotes #debt #deficit #money #Fed #currency #MMT #power #transactions #policy #government #politics #economy #credit #economics #USPol #USA #Treasury #Kelton #StephanieKelton

"Stephanie Kelton, bestselling author of “The Deficit Myth” and professor of economics and public policy, talks to Jordan Klepper and Ronny Chieng about changing our understanding of government spending through MMT, or Modern Money Theory. She also explains how the national deficit is not a number to be fearful of, but can be put to good use, and how government finance is far more flexible than you might think." #DailyShow #MMT #kelton #stephaniekelton
https://www.youtube.com/watch?v=1JpZZcD8C4M&

"Stephanie Kelton, bestselling author of “The Deficit Myth” and professor of economics and public policy, talks to Jordan Klepper and Ronny Chieng about changing our understanding of government spending through MMT, or Modern Money Theory. She also explains how the national deficit is not a number to be fearful of, but can be put to good use, and how government finance is far more flexible than you might think." #DailyShow #MMT #kelton #stephaniekelton
https://www.youtube.com/watch?v=1JpZZcD8C4M&

https://open.substack.com/pub/stephaniekelton/p/sacred-cows?utm_source=share&utm_medium=android&r=1wci9r
Fascinating when an elite like Altman admits that elites have proven they don't know what they think they do.
#StephanieKelton #Sacredcows #Economists #MMT

@hula @pedestrians1st @ChrisMayLA6 @KimSJ There is a school of economics, Modern Monetary Theory or #MMT, devoted to how governments can use their money creating ability "for good". The right, of course, disparages it and they by and large control the main schools of economics. Their prescription for controlling inflation is to #TaxTheRich so of course they hate that.
#StephanieKelton has a good primer
https://www.youtube.com/watch?v=28atgck_1lA

@hula @pedestrians1st @ChrisMayLA6 @KimSJ There is a school of economics, Modern Monetary Theory or #MMT, devoted to how governments can use their money creating ability "for good". The right, of course, disparages it and they by and large control the main schools of economics. Their prescription for controlling inflation is to #TaxTheRich so of course they hate that.
#StephanieKelton has a good primer
https://www.youtube.com/watch?v=28atgck_1lA

"Nothing is more important than meaningful action on climate. Because climate breakdown will probably be the key driver of ongoing inflationary problems in the decades to come. Not to mention threatening our very survival on this planet."

#Finance #MMT #Inflation #Climate #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

"Then you say, what if I gave you a different wand that would eradicate the world of US Treasuries? Bills, bonds, notes, they’re all just gone. Would you wave that wand? People would say, 'Why on earth would I do that?'”

It was so telling, because I was asking the same question two different ways. This thing we call the national debt is nothing more than the whole of the US Treasury market. They’re one and the same."

(2/2)

#Finance #MMT #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

"Then you say, what if I gave you a different wand that would eradicate the world of US Treasuries? Bills, bonds, notes, they’re all just gone. Would you wave that wand? People would say, “Why on earth would I do that?”

It was so telling, because I was asking the same question two different ways. This thing we call the national debt is nothing more than the whole of the US Treasury market. They’re one and the same."

(2/2)

#Finance #MMT #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

"I used to play this little game when I was the chief economist for the Democrats on the Senate budget committee. I would ask either members of the Senate or their staff, if you had a magic wand and you could wave the magic wand and make the US national debt just disappear, would you wave the wand? Everyone immediately says, 'Yes.' No hesitation."
(1/2)

#Finance #MMT #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

"I used to play this little game when I was the chief economist for the Democrats on the Senate budget committee. I would ask either members of the Senate or their staff, if you had a magic wand and you could wave the magic wand and make the US national debt just disappear, would you wave the wand? Everyone immediately says, “Yes.” No hesitation."
(1/2)

#Finance #MMT #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

"When the Fed raises interest rates, it forces the Treasury to pay out more in interest income to bondholders as bonds mature and new securities are issued. All of a sudden the government is paying out hundreds of billions of dollars in additional income to holders of US Treasuries...
It’s like a basic income payment that goes to relatively wealthy people."

#Finance #MMT #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

"When the Fed raises interest rates, it forces the Treasury to pay out more in interest income to bondholders as bonds mature and new securities are issued. All of a sudden the government is paying out hundreds of billions of dollars in additional income to holders of US Treasuries...
It’s like a basic income payment that goes to relatively wealthy people."

#Finance #MMT #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

"When central banks raise interest rates, of course it matters. The cost of financing a home has increased a lot. It costs a lot more money if you want to buy a car and you’ve got to finance it. Your credit card bills are higher...

Ironically, you’re trying to fight the cost of living crisis by raising the cost of living for millions of people."

#Finance #MMT #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

"When central banks raise interest rates, of course it matters. The cost of financing a home has increased a lot. It costs a lot more money if you want to buy a car and you’ve got to finance it. Your credit card bills are higher...

Ironically, you’re trying to fight the cost of living crisis by raising the cost of living for millions of people."

#Finance #MMT #StephanieKelton

https://www.ft.com/content/5a7297a0-7ee9-4be0-882b-617d8d9b0cef

@annaf @Cyclist It's an excellent foundation. #MMT offers some insights into #deficit and #taxation in countries like #UK and #US (see e.g. #StephanieKelton) that really challenge today's political rhetoric.

Probably, it'll take not being rigidly ideological about a single "#economics" but rather identifying what we want to be as a society and iterating a path in that direction.

It'll be slow, maybe too slow, but then when change comes it'll be rapid. Your original post is part of that change, challenging orthodoxy, believing in alternatives for the sake of #humanity.

MMT the Movie - I wish I could make the Sept 30 Woodstock, NY premier of "Finding the Money" - more details in #StephanieKelton's post:

https://open.substack.com/pub/stephaniekelton/p/mmt-the-movie-coming-to-a-festival
#MMT #economics

MMT the Movie - I wish I could make the Sept 30 Woodstock, NY premier of "Finding the Money" - more details in #StephanieKelton's post:

https://open.substack.com/pub/stephaniekelton/p/mmt-the-movie-coming-to-a-festival
#MMT #economics

@jewishreader Indeed, #StephanieKelton's The Deficit Myth is thought-provoking. But, it's crucial to note that her #MMT view is not universally accepted. Her approach would drastically alter the fundamentals of economics and the role of #taxation. Kelton, as a Bernie Sanders advisor, may lean towards socialist policy perspectives. Can we safely apply this theory in a world of diverse economic structures? #ReadWithCaution #Politics #Books #Nonfiction

Highly recommended audiobook from Libro.fm. #deficits #TheDeficitMyth #MMT #economics #Librofm #audiobooks #books #StephanieKelton

Highly recommended audiobook from Libro.fm. #deficits #TheDeficitMyth #MMT #economics #Librofm #audiobooks #books #StephanieKelton

@412David @TonyStark @SkipFleming @GreenFire @BenCisco @stopgopfox @MariaHill

Not upset in the least!

Just surprised an idea this flashy & fun is not as well-known as I thought.

At first, it does seem absurd. But if you look at #modernmonetarytheory (like CRT, the "Theory" part of the name is a misnomer - neither is speculative or unproven, they both actually just describe what is observable) and the work of the magnificent #StephanieKelton , you see it's actually fine & unimpeachable.