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0 pointsyazaddaruvala5y ago0 comments

:( its become clear to me you're not having this conversation in good faith. I apologize that I wasted your time.

FWIW, I do not own any BTC or other crypto coins.

P.S. I highly recommend you research MMT. I think you'll find that no-one (including the most experienced economists) understands the details of how the emergent property works, they only understand that it works.

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lottin5y ago· 2 in thread

Re-reading you comments, I think you might be confused with regards to what MMT is. MMT is a novel monetary theory, it's definitely not the standard monetary theory, and it's not widely accepted by economists. The standard theory of money is the Quantity Theory of Money, which has been re-discovered many times since the ancient times. Why you think MMT is important in this discussion, I don't know.

yazaddaruvalaOP5y ago

> Why you think MMT is important in this discussion, I don't know.

Because over the last decade the US has been quietly transitioning to the MMT mental model. MMT is how we got out of the 2008 recession and also how we are funding both the pandemic stimulus packages (in 2020 and again in 2021).

The inflation we previously discussed in this thread is, in my understanding, a direct consequence of MMT.

lottin5y ago

What is the MMT mental model? It seems to me that you're under the impression that MMT is some kind of monetary policy, when it is not. Monetary policy along with fiscal policy are the two major counter-cyclical policies used by governments since the 1930s. MMT is an economic theory, and is much more recent than that.

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