#thedeficitmyth — Public Fediverse posts

The dominant economics paradigm of our time (the “mainstream”) gets many things wrong; one of the worst is that it ignores double-entry accounting. Meaning what, exactly? Well, the federal budget deficit is only the debit side of the currency-creation ledger; the asset side is the supply of US dollars! And mainstream economics doesn't understand this—or teach it! 2/3

#TheDeficitMyth #TheFederalDeficitIsOurMoney #Deficit #Economics #DoubleEntryAccounting #BothSidesOfTheStory #MMT

Most people think reducing the federal budget deficit is a good thing. Makes sense, right? I mean, if I’m broke & have bills, that’s bad! But there’s a problem: The analogy between my finances and those of a currency-issuing government is false. Wrong. Illogical. So why do so many people keep getting it wrong? Turns out, they’ve been misled—by economists! 1/3

#TheFederalDeficitIsOurMoney #TheDeficitMyth #Deficit #Economics #DoubleEntryAccounting #BothSidesOfTheStory #MMT #PostKeynesianEcon

#2Guys1Cup #deathSexAndMoneyPodcast #everyoneRelaxNetwork #podcast #rebelWithoutACrew #recordStoreDayPodcast #robertRodriguez #stephanieKelton #steveConte #theDeficitMyth #theDorkForestPodcast #watchAfl

https://evilgeniuschronicles.org/b/35m

On this show I play a new song by Steve Conte; I understand my child’s antipathy for a classmate; Death Sex and Money looking for a new organization is the same dynamic as searching for a sugar daddy; I don’t understand what there is for all these people working on the pro podcasts to actually do; I really enjoyed the book Rebel Without a Crew; I popped for a month of the Watch AFL app; I started with Wilosophy and stuck around for much of the Everyone Relax feed; I am enjoying the 2 Guys 1 Cup podcast on footie; the fight in They Live is the weirdest 20 seconds of cinema; I am no longer that interested in cryptocurrency; moving assets from Kraken to Coinbase was a true drag; Kraken UX is kind of terrible; I have been trying to reconcile cryptocurrency and MMT since I learned about each; how exactly is it that we repay national debt;

Here is the direct MP3 download for the Evil Genius Chronicles podcast, March 15 2024.

Links mentioned in this episode:

 
• Support this show on Patreon

 

• Steve Conte’s song “Shout Out the Stars” on YouTube

   
 

• Steve Conte’s official site

 

• Record Store Day Podcast episode with Steve Conte

 

• Fuck Gladwell
• Death Sex and Money podcast

 
 

• Rebel without a Crew book

 
 

• My post on Mastodon about “grind culture”

   
 

• Watch AFL

 

• Everyone Relax

 

• Dork Forest with Wil Anderson on cricket
• Dork Forest with Wil Anderson on AFL (aka footie)

 
 

• 2 Guys 1 Cup Podcast

 
   

• The Deficit Myth at Amazon

 

• Follow this website on Mastodon or anywhere in the Fediverse at @dave@evilgeniuschroniclesorg
• Join the EGC Discord
• Follow me on Mastodon @[email protected]
• [email protected] is my Bookwyrm account

 

• My Keybase account
• Subscribe to the shared RSS from my own TTRSS install
• Auphonic podcast production tool is so good!
• Theme song provided by the Gentle Readers

You can subscribe to this podcast feed via RSS. To sponsor the show, contact BackBeat Media. Don’t forget, you can fly your EGC flag by buying the stuff package. This show as a whole is Creative Commons licensed Attribution-NonCommercial 4.0 Unported. Bandwidth for this episode is provided by Cachefly.

Podcast: Play in new window | Download