Any time there is an MMT post, the comments are...
DEBUNKING - Quick Reference Links
Taxation
Real Progressives Resources
Once we understand what taxes are “for”, we can start...
If there’s no inflation danger, there is no point in...
Wherever this flag’s flown, We take care of our own....
Let us continue to develop an alternative frame for money....
A great explainer video from students of Eric Tymoigne at...
Related links
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- Stephanie (Bell) Kelton’s paper Can Taxes and Bonds Finance Government Spending?
- The Dangerous Myth of Taxpayer Money on Splinter News by Raul Carillo & Jesse Myerson
- https://www.ssa.gov/history/Gulick.html – This is proof FDR knew taxes do not fund spending and his decision to protect Social Security “With those taxes in there, no damn politician can ever scrap my social security program. Those taxes aren’t a matter of economics, they’re straight politics.”
Inflation / Hyperinflation
Real Progressives Resources
If there’s no inflation danger, there is no point in...
By now (2012), economists should know better than to rely...
The truth about federal finance used to be common household...
To Fix or To Float, that is the question.
Let’s stop pretending that replacing a budget constraint with an...
It has been commonplace to speak of central bank independence—as...
Related links
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- Modern monetary theory and inflation – Part 1 from Bill Mitchell’s blog
- You can’t debase the US dollar – tweet from Joe Weisenthal
- MNC podcast Episode 152 – Understanding Inflation with Fadhel Kaboub
- Rapid Money Supply Growth Does Not Cause Inflation by Richard Vague
Social Security
Real Progressives Resources
Wherever this flag’s flown, We take care of our own....
Let us continue to develop an alternative frame for money....
A great explainer video from students of Eric Tymoigne at...
Predictions of doom are really based on provisions in law...
Only the name has changed, the policies haven’t.
“The fact we are still under a national public health emergency...
Related links
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- QUESTION: If we maintain the myth that FICA taxes pay for Medicare and Social Security, then we can claim that we “paid into” the mythical “trust fund,” right? Doesn’t that make it harder for politicians to cut both programs?
ANSWER: No, the myths make it easier. The Big Lie lets politicians falsely claim that Medicare and Social Security must be cut (or privatized) because more people are “drawing from” the programs than are “paying into” the programs. In this way politicians can divide and conquer (on behalf of Wall Street) by setting young people against their “thieving” parents.
Save us from our friends: “Social Security Works.org” edition by Rodger Malcolm Mitchell, Mythfighter
- QUESTION: If we maintain the myth that FICA taxes pay for Medicare and Social Security, then we can claim that we “paid into” the mythical “trust fund,” right? Doesn’t that make it harder for politicians to cut both programs?
Petrodollars / World Reserve Currency
Real Progressives Resources
From the definition of a dollar as a unit of...
“As far as what specifically would happen if the world...
If government spending is just “printing money” then taxing is...
Your kids are not strapped with debt. Just the debt...
Related links
- Wray on the dollar as world’s reserve currency. https://www.youtube.com/watch?v=yioWPf-vud8&t=58s
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Mosler debunking the Petrodollar on RT. https://www.youtube.com/watch?v=ICSdZbEMZd0&t=14s
Universal Basic Income / UBI / Job Guarantee
Real Progressives Resources
Yes, sending a check to people is not as “messy,”...
A Federal Job Guarantee is real progress. A UBI advances...
Raul Carrillo argues for permanent, non-discretionary funding of income, healthcare,...
Most think of the UBI from a national perspective but...
UBI is both an important topic in its own right...
Instead, we should look to stabilize our national economy with...
Related links
- Pavlina Tcherneva’s FAQ Page
- FJG vs UBI by Iain Dooley
- MNC podcast with Dr. Tcherneva on Nationalizing Payroll and a Federal Job Guarantee
Socialism / Communism
Real Progressives Resources
If capitalism were so successful at eliminating poverty, the United...
These attacks do not exist in a vacuum. They are...
Politicians and media pundits like to use the term democracy,...
The world lost a great one in 1895.
Comrade Rosa Luxemburg’s antiwar masterpiece
Socialism, communism, and fascism are terms that are often misused....
Fiat Currency
Real Progressives Resources
We need to let go of the myths and begin...
Gold-standard thinking is inapplicable to a sovereign, currency-issuing government operating...
To Fix or To Float, that is the question.
Why does it seem like there isn’t enough money to...
Government spending is nothing like a household. The government’s job...
This may sound like the plot for a Dickensian novel...
Cryptocurrency, Bitcoin
Real Progressives Resources
In a piece titled “Cryptocurrency: Don’t Blame the Medium for...
Grey briefly discusses the history and nature of various money...
Accepting cryptocurrency is more like accepting stocks.
For Bitcoin – very little. For El Salvador’s Economy –...
A transformation of enormous global significance has just begun, and...
Related links
- Macro N Cheese Podcast Episode 207 – A Crypto, MMT Retrospective with Rohan Grey
- Macro N Cheese Podcast Episode 123 – Defining the World of Crypto and the Digital Commons with Rohan Grey
Federal Reserve
Real Progressives Resources
There never has been the kind of independence supposed by...
In this blog we look at the myth of Fed...
It has been commonplace to speak of central bank independence—as...
So, who is responsible for this fiasco? Or for the...
It is up to academics and informed lay-people alike to...
Jared Bernstein, longtime economic advisor to Joe Biden asked the...
Related links
- The Federal Reserve Act of 1913 established the Federal Reserve System as the central bank of the United States.
Debt, Deficits & Borrowing
Real Progressives Resources
A government deficit will result if the nongovernment sector has...
It is difficult to believe that our economy can continue...
“By what process, I wondered, have we convinced ourselves that...
Its influence is felt even in liberal or progressive organizations,...
From the latest cuts to the economic forecasts to the...
The great power of MMT is its lesson that the...
Related links
- Stephanie Kelton (nee Bell) from 1998 – https://mikenormaneconomics.blogspot.com/2012/05/stephanie-kelton-on-why-us-doesnt.html
- Aren’t we financial slaves to China?! – [YT Video] Per Mosler, they have three options. They can choose to leave the money alone in the reserve (checking) account, move it to a securities (savings) account, or spend it by purchasing goods and services from other nations with USDs.