The Debt Delusion: This Is Not The Time To Worry About Deficits

1. This was excellent! People simply don't know these facts.

2. After listening to this podcast, you will have better knowledge than most orthodox economists! Stephanie Kelton tells Michael Moore why Congress has no impediment other than political will to finance what needs to be done. #BernieintheWH

   https://podcasts.apple.com/us/podcast/ep-55-cash-now-feat-stephanie-kelton/id1490354763?i=1000469157688

3. Time for a Year of Jubilee: right after we get past the coronacrisis, all Central Banks around the world should forgive all debt owed to them, they can start up the debt game the very next day, Central Banks were not created to enrich the Central bankers, right?

4. You guys here can't seem to get your story straight. First, low interest costs are great because it allows the government to borrow cheaply. And high interest costs are great because pension funds make higher returns. And then you show a still photo of 2 old folks stressed out of their minds because debt levels for them have increased 543% in 2 decades. Mixed signals???

   So, funny how you don't mention that when interest rates are next to nothing, pension funds and savers are getting totally screwed. And when interest rates are high, taxpayers are totally screwed. Plus, somehow it's never talked about here that debt traditionally comes from excess savings, but since next to 0% interest rates disencentivizes savings, today debt funding comes from money printing. Kind of a important factor, wouldn't you say? Guess money printing is nothing to worry about as well…kudos to all you MMT zombies out there.

   And by the way, it's this nonsensical 0% interest rate policy and "deficits don't matter" BS that has brought us to where we are today…a debt fueled burst bubble with printing presses turned up to 11. Nothing to see here, right? Everything's great!

5. Evidently, no one is worried about the deficit. Congress has refused to cut spending. The deficit is thus over $1 trillion. The national debt is over 106% of our GDP at $23 trillion.

6. The coronavirous : " a coincidence " or delibetly used as a bioweapon ? / Klagemauer tv Enhlish i

7. Russia TV wants the USA to collapse like the USSR—big shocker.

8. The only time to worry about deficits is when Democrats are in power. When Republicans are it charge deficits are the greatest strategy to make the economy great.

9. Can somebody explain to me what he said about having your own currency?

   He said countries with their own currency (US, UK, etc) owe the currency to themselves and have no problem "printing" more. And that the European Union is not in the same boat with that. Can someone explain what effect that has on them then?

   I always thought it just depends in which currency you hold your debt. Bc if your debt is in US dollars and you are not the US, you can't just print your way out of the crisis.

10. Real News Network, you have got to stop having on such ridiculous economists. This guy must not have heard of inflation before

11. If people cant go to work by order of our government then Mortgage and rent payments should also be suspended

12. The economists for the 1% are delusional, in denial, and seem to be having breakdowns.

13. Was just speaking to a SBO and telling her the same thing he just said they want you to borrow money. She doesn't want to borrow to pay employees but might have to because this thing went from a virus to being about economics. Seems banks having issue with lack of borrowing.

14. Here is this guy's prescription for COVID-19:
    1. The monetary authorities suppress real interest rates to near zero.
    2. This allows government to borrow the life savings of the middle classes cheap.
    3. Artificially low interest rates discourage savings and investment.
    The middle classes get cheated, investment languishes, government gets bigger. Yeah, that sounds sustainable.

15. Federal deficit = private sector surplus, domestic and foreign. Federal surplus = private sector deficit. It is a circular system. Money is created by fed when it is spent into the economy. It is destroyed when it is taxed away. 23T is all spent untaxed dollars. #LearnMMT

16. The crisis is CREATED BY THE GOVERNMENT. the medical problem is nothing compared to what the government is doing.

17. Reality is that which when we stop believing in it doesn’t go away.”
    - Philip K. Dick

18. Pelosi by next week better be in lockdown. Cause she rears her punk ass out in public. She going to get bumrushed.

19. 10:00 let's just pretend the government is efficient with anything. This is propaganda plain and, simple. You guys are better than this and, frankly I'm disappointed.

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