Shakedown Social

DrALJONESMainstream economics as religion:Don't tell the plebs the truth - it'll lead to "anarchic chaos"In 1988, US economist Paul Samuelson explained the purpose of spreading the "balanced budget superstition".Deregulation & privatisation in the 1980s "structurally created the basis for many later crises. Eg, the abolition of the Glass-Steagall Act was key to the GFC." @heinrichsgeist Extract: <a href="https://youtu.be/4_pasHodJ-8" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://youtu.be/4_pasHodJ-8</a>Full doco: <a href="https://sms.cam.ac.uk/media/761745/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://sms.cam.ac.uk/media/761745/</a><a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mastodon.social/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://mastodon.social/tags/ukpol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ukpol</a> <a href="https://mastodon.social/tags/auspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#auspol</a> .

DrALJONESMainstream economics as religion:Don't tell the plebs the truth - it'll lead to "anarchic chaos"US economist Paul Samuelson explains the purpose of spreading the "balanced budget superstition":Extract: <a href="https://youtu.be/4_pasHodJ-8" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://youtu.be/4_pasHodJ-8</a>Full doco: <a href="https://sms.cam.ac.uk/media/761745/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://sms.cam.ac.uk/media/761745/</a><a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mastodon.social/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://mastodon.social/tags/ukpol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ukpol</a> <a href="https://mastodon.social/tags/auspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#auspol</a> .

DrALJONESMainstream economics as religion:Don't tell the plebs the truth - it'll lead to "anarchic chaos"In 1988, US economist Paul Samuelson explained the purpose of spreading the "balanced budget superstition".Deregulation & privatisation in the 1980s "structurally created the basis for many later crises. Eg, the abolition of the Glass-Steagall Act was key to the GFC." <a href="https://digitalcourage.social/@heinrichsgeist" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@heinrichsgeist</a> Extract: <a href="https://youtu.be/4_pasHodJ-8" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://youtu.be/4_pasHodJ-8</a>Full doco: <a href="https://sms.cam.ac.uk/media/761745/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://sms.cam.ac.uk/media/761745/</a><a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mastodon.social/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://mastodon.social/tags/ukpol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ukpol</a> <a href="https://mastodon.social/tags/auspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#auspol</a> .

DrALJONES2 The fictions:US economist Paul Samuelson explains the purpose of spreading the "balanced budget superstition":From <a href="https://digitalcourage.social/@heinrichsgeist" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@heinrichsgeist</a>"...economics is abused as a religious doctrine — generations of students have been misled by dogmatic textbooks..."Extract: <a href="https://youtu.be/4_pasHodJ-8" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://youtu.be/4_pasHodJ-8</a>Full doco: <a href="https://sms.cam.ac.uk/media/761745/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://sms.cam.ac.uk/media/761745/</a><a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mastodon.social/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://mastodon.social/tags/ukpol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ukpol</a> <a href="https://mastodon.social/tags/auspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#auspol</a> .Mainstream economics as religion: "Don't tell the plebs the truth - it'll be the end of civilised society". Ever-so-convenient lies.

HeinrichsgeistHere Professor Samuelson explains the purpose of spreading the "balanced budget superstition": <a href="https://youtu.be/4_pasHodJ-8" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://youtu.be/4_pasHodJ-8</a>It's taken from this documentary: <a href="https://sms.cam.ac.uk/media/761745/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://sms.cam.ac.uk/media/761745/</a>Professor Samuelson reveals here the betrayal of scientific principles: instead of fostering enlightenment, mainstream economics is abused as a religious doctrine — generations of students have been misled by dogmatic textbooks and continue to be misled to this day.<a href="https://digitalcourage.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/@DrALJONES" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@DrALJONES</a>

Eric Maugendre“A sovereign government does not need to collect taxes or issue bonds to finance spending. It finances directly through money creation.” – Eric Tymoigne is an associate professor of economics at Lewis & Clark College, NY, who specializes in the fields of <a href="https://mas.to/tags/money" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#money</a> and <a href="https://mas.to/tags/banking" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#banking</a>, monetary theory, and financial macroeconomics<a href="https://a.gup.pe/u/economics" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@economics</a> <a href="https://mas.to/tags/fiatMoney" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#fiatMoney</a> <a href="https://mas.to/tags/moneyIssuance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#moneyIssuance</a> <a href="https://mas.to/tags/moneyCreation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#moneyCreation</a> <a href="https://mas.to/tags/monetaryCreation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#monetaryCreation</a> <a href="https://mas.to/tags/monetaryTheory" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#monetaryTheory</a> <a href="https://mas.to/tags/slogan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#slogan</a> <a href="https://mas.to/tags/quotes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#quotes</a> <a href="https://mas.to/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a> <a href="https://mas.to/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> <a href="https://mas.to/tags/Fed" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Fed</a> <a href="https://mas.to/tags/CentralBank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#CentralBank</a> <a href="https://mas.to/tags/CentralBanks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#CentralBanks</a> <a href="https://mas.to/tags/Treasury" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Treasury</a> <a href="https://mas.to/tags/currency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#currency</a> <a href="https://mas.to/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MMT</a>

DrALJONESInterview: "We've been led by my profession [economists] to accept a fictional world that leads us to accept poor policy that actually damages the nation, the climate, & ourselves.""Mmt is about understanding the capacities of the currency issuing government."~Prof Bill MitchellBill's mmt "laboratory" is Japan (see 54.57 min in):<a href="https://www.youtube.com/watch?v=vNfN3NX5KF8&t=851s" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.youtube.com/watch?v=vNfN3NX5KF8&t=851s</a> <a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/japan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#japan</a> <a href="https://mastodon.social/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://mastodon.social/tags/billmitchell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#billmitchell</a> <a href="https://mastodon.social/tags/jobguarantee" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#jobguarantee</a> ....2 why economists say it's ok to lie to we the people about how fed spending works

DrALJONES2 ... "It's okay to lie because it maintains social stability."If people found out the truth about how government finances work, there would be so many demands on the government to do stuff that it would become unviable."Economics serves the same purpose as religion has served historically: to maintain social order by lying to the people so they don't get bolshy."Bill Mitchell paraphrasing Paul Samuelson<a href="https://www.youtube.com/watch?v=vNfN3NX5KF8&t=851s" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.youtube.com/watch?v=vNfN3NX5KF8&t=851s</a> <a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/japan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#japan</a> <a href="https://mastodon.social/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://mastodon.social/tags/billmitchell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#billmitchell</a> <a href="https://mastodon.social/tags/jobguarantee" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#jobguarantee</a> .

Eric MaugendreSovereign states invest or spend as much as they want by issuing they own money and credit.<a href="https://mas.to/tags/fiatMoney" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#fiatMoney</a> <a href="https://mas.to/tags/moneyIssuance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#moneyIssuance</a> <a href="https://mas.to/tags/moneyCreation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#moneyCreation</a> <a href="https://mas.to/tags/monetaryCreation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#monetaryCreation</a> <a href="https://mas.to/tags/money" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#money</a> <a href="https://mas.to/tags/slogan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#slogan</a> <a href="https://mas.to/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a> <a href="https://mas.to/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> <a href="https://mas.to/tags/Fed" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Fed</a> <a href="https://mas.to/tags/CentralBank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#CentralBank</a> <a href="https://mas.to/tags/CentralBanks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#CentralBanks</a> <a href="https://mas.to/tags/Treasury" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Treasury</a> <a href="https://mas.to/tags/currency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#currency</a> <a href="https://mas.to/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MMT</a> <a href="https://mas.to/tags/power" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#power</a> <a href="https://mas.to/tags/transactions" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#transactions</a> <a href="https://mas.to/tags/policy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#policy</a> <a href="https://mas.to/tags/government" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#government</a> <a href="https://mas.to/tags/politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#politics</a> <a href="https://mas.to/tags/economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economy</a> <a href="https://mas.to/tags/credit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#credit</a> <a href="https://mas.to/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mas.to/tags/administration" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#administration</a>

DrALJONESThatcher was wrong about public money, but neoliberalism feted her fictions...<a href="https://www.youtube.com/watch?v=xvz8tg4MVpA" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.youtube.com/watch?v=xvz8tg4MVpA</a> The following study of UK (ditto US, etc) govt spending debunks the lie:It shows that the UK govt creates £s whenever it spends. Neither taxes nor borrowing are required.The first detailed analysis of UK govt spending shows that "public expenditure is always financed through money creation rather than taxation or debt issuance."<a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4890683" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4890683</a><a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://mastodon.social/tags/ukpol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ukpol</a> <a href="https://mastodon.social/tags/thatcher" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#thatcher</a> .

Eric MaugendreNobody ever reimburses national debt. Sovereign states restructure it.<a href="https://mas.to/tags/bonds" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#bonds</a> <a href="https://mas.to/tags/liquidity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#liquidity</a> <a href="https://mas.to/tags/liquidities" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#liquidities</a> <a href="https://mas.to/tags/securities" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#securities</a> <a href="https://mas.to/tags/borrowing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#borrowing</a> <a href="https://mas.to/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a> <a href="https://mas.to/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> <a href="https://mas.to/tags/money" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#money</a> <a href="https://mas.to/tags/Treasury" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Treasury</a> <a href="https://mas.to/tags/PublicTreasury" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#PublicTreasury</a> <a href="https://mas.to/tags/currency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#currency</a> <a href="https://mas.to/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MMT</a> <a href="https://mas.to/tags/policy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#policy</a> <a href="https://mas.to/tags/economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economy</a> <a href="https://mas.to/tags/credit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#credit</a> <a href="https://mas.to/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mas.to/tags/obligations" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#obligations</a> <a href="https://mas.to/tags/titles" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#titles</a> <a href="https://mas.to/tags/slogan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#slogan</a> <a href="https://mas.to/tags/macroEconomics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#macroEconomics</a> <a href="https://mas.to/tags/rents" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#rents</a> <a href="https://mas.to/tags/funding" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#funding</a> <a href="https://mas.to/tags/politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#politics</a>

Eric Maugendre“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)<a href="https://mas.to/tags/slogan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#slogan</a> <a href="https://mas.to/tags/quotes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#quotes</a> <a href="https://mas.to/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a> <a href="https://mas.to/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> <a href="https://mas.to/tags/money" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#money</a> <a href="https://mas.to/tags/Fed" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Fed</a> <a href="https://mas.to/tags/currency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#currency</a> <a href="https://mas.to/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MMT</a> <a href="https://mas.to/tags/power" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#power</a> <a href="https://mas.to/tags/transactions" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#transactions</a> <a href="https://mas.to/tags/policy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#policy</a> <a href="https://mas.to/tags/government" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#government</a> <a href="https://mas.to/tags/politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#politics</a> <a href="https://mas.to/tags/economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economy</a> <a href="https://mas.to/tags/credit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#credit</a> <a href="https://mas.to/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mas.to/tags/USPol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USPol</a> <a href="https://mas.to/tags/USA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USA</a> <a href="https://mas.to/tags/Treasury" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Treasury</a> <a href="https://mas.to/tags/Kelton" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Kelton</a> <a href="https://mas.to/tags/StephanieKelton" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#StephanieKelton</a>

Eric MaugendreIs borrowing a burden on future generations? No, it's not: if the borrower is a nation-state, then no person (children or taxpayers) will be asked to repay.“Paying off the debt” is just the sovereign swapping Treasury securities (savings) for cash. No burden is passed on to persons.<a href="https://mas.to/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a> <a href="https://mas.to/tags/Treasury" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Treasury</a> <a href="https://mas.to/tags/slogan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#slogan</a> <a href="https://mas.to/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> <a href="https://mas.to/tags/money" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#money</a> <a href="https://mas.to/tags/liquidity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#liquidity</a> <a href="https://mas.to/tags/liquidities" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#liquidities</a> <a href="https://mas.to/tags/currency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#currency</a> <a href="https://mas.to/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MMT</a> <a href="https://mas.to/tags/transactions" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#transactions</a> <a href="https://mas.to/tags/economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economy</a> <a href="https://mas.to/tags/credit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#credit</a> <a href="https://mas.to/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mas.to/tags/administration" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#administration</a> <a href="https://mas.to/tags/government" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#government</a> <a href="https://mas.to/tags/sovereignty" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#sovereignty</a>

DrALJONESWhat caused post-pandemic inflation? Hint: It wasn't the fed spending. Rather, it was these:"During the Covid lockdowns, there was a sharp rise in personal savings, as risk-averse consumers reduced spending."When the economy re-opened, there were large savings to spend."The result was strong growth in demand & a strong economic recovery with rapid job growth.Along w/ major supply constraints, the result was bottlenecks & higher prices.<a href="https://www.economicshelp.org/blog/169072/economics/to-what-extent-did-covid-cause-inflation/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.economicshelp.org/blog/169072/economics/to-what-extent-did-covid-cause-inflation/</a> <a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://mastodon.social/tags/inflation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#inflation</a> .

DrALJONES<a href="https://mastodon.bsd.cafe/@duncan_bayne" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@duncan_bayne</a> Re "printing money to fund COVID lockdown subsidies..." * Just to indicate the thrust of myriad scholarly analyses of post-pandemic inflation:"It would be a mistake to only claim inflation was only due to government spending. Other countries in Europe, without the same fiscal stimulus, have seen very similar rates of inflation."<a href="https://www.economicshelp.org/blog/169072/economics/to-what-extent-did-covid-cause-inflation/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.economicshelp.org/blog/169072/economics/to-what-extent-did-covid-cause-inflation/</a> Note: causes not addressed by source cited* keystrokes, not printing<a href="https://mastodon.world/@ApostateEnglishman" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@ApostateEnglishman</a> <a href="https://aus.social/@Wyvernsridge" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@Wyvernsridge</a> <a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> .

The Sleight Doctor 🃏<a href="https://mastodon.bsd.cafe/@duncan_bayne" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@duncan_bayne</a> <a href="https://aus.social/@Wyvernsridge" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@Wyvernsridge</a> Hey <a href="https://mastodon.social/@DrALJONES" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@DrALJONES</a> , we should probably cover the temporary post-pandemic inflation, because I keep seeing people saying this is proof "printing money" devalues currency, as opposed to stalled (almost non-existent) economic activity and excess household savings due to lockdowns. Yeah, that'll do it. But we knew that already.I don't have the spoons at nearly 2am, perhaps you could step in!<a href="https://mastodon.world/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MMT</a>

The Sleight Doctor 🃏<a href="https://mastodon.bsd.cafe/@duncan_bayne" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@duncan_bayne</a> <a href="https://aus.social/@Wyvernsridge" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@Wyvernsridge</a> Economic activity ceased due to lockdown measures, savings accumulated because people couldn't spend. When restrictions were lifted there was a consumer spending splurge, compounded by price-gouging corps who took advantage to artificially raise prices (here in the UK, notably on energy), while posting record profits. This is informally known as "greedflation". It had nothing to do with government spending and was predicted by <a href="https://mastodon.world/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MMT</a>.

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