Jul 23, 2022·1 reply
the redsThe concept of "Late Stage Capitalism" is wishful thinking. Just people convincing themselves no way things can get worse
It just means the latest state, it's a bit of a mistranslation
- Jul 23, 2022
kiddash3ryo this thread is bonkers
@krishna_bound you probably know all of these but tap in
https://twitter.com/ExileGrimm/status/1436340416513810434
- Jul 23, 2022
I had this edition and it was so corny
- Jul 23, 2022·1 reply
Chomsky: lenin was right wing, do not look into 9/11 or the jfk assassination, I'm riding with biden and I pledge allegiance to Dr. Fauci
Libs: thank you sir I've always respected you
Chomsky: ukraine—
Libs: wooooooow another far left loony get this carcass the f*** outta here
- Jul 23, 2022the reds
Chomsky: lenin was right wing, do not look into 9/11 or the jfk assassination, I'm riding with biden and I pledge allegiance to Dr. Fauci
Libs: thank you sir I've always respected you
Chomsky: ukraine—
Libs: wooooooow another far left loony get this carcass the f*** outta here
Jul 24, 2022·1 replyMMT doesn't hold up imo
- Jul 24, 2022·1 replyLein
MMT doesn't hold up imo
why?
- Jul 24, 2022·edited·3 repliesWomanpuncher69
why?
What I get from MMT is that since the state creates money, it can print and spend however it wants and everybody else will just accept it. But that doesn't make sense since it's the production process which determines the value of money (fiat or commodity) not the state. Hell even the state's mandate on what is money is shaky from a historical perspective. What I think MMT is meant to justify, state intervention to minimize the impact of slumps, is fine but not because the state can just literally create value out of thin air.
It's like they want to run huge budget deficits but need to come up with a theoretical framework where that won't lead to hyperinflation or a run on a currency. They point to the US a lot in this regard, but the reason the US can sustain these huge budget deficits is because most countries need to buy oil which is priced in dollars, and most big exporters rely on American markets to such an extent that they will always buy up US treasury bonds to finance American consumption and keep a favorable exchange rate.
- Jul 24, 2022Lein
What I get from MMT is that since the state creates money, it can print and spend however it wants and everybody else will just accept it. But that doesn't make sense since it's the production process which determines the value of money (fiat or commodity) not the state. Hell even the state's mandate on what is money is shaky from a historical perspective. What I think MMT is meant to justify, state intervention to minimize the impact of slumps, is fine but not because the state can just literally create value out of thin air.
It's like they want to run huge budget deficits but need to come up with a theoretical framework where that won't lead to hyperinflation or a run on a currency. They point to the US a lot in this regard, but the reason the US can sustain these huge budget deficits is because most countries need to buy oil which is priced in dollars, and most big exporters rely on American markets to such an extent that they will always buy up US treasury bonds to finance American consumption and keep a favorable exchange rate.
I was listening to one of them on a podcast and it became clear that its an exercise in mediating the insanity of being a modern day Keynesian, you have to let Naomi Klein and AOC MK Ultra you into believing we can have the activist welfare state forever despite all evidence because it's the only way to justify taking the "THERE IS NO ALTERNATIVE TO CAPITALISM" pill.
Jul 24, 2022SEGA GOONIt just means the latest state, it's a bit of a mistranslation
Yeah a lot of people took it to mean the ending of capitalism tho lol
- Jul 24, 2022
Jul 24, 2022·1 reply
sometimes i go on r/conservative just to see their narrative and found this s***
i cant bro- Jul 24, 2022oat milk
sometimes i go on r/conservative just to see their narrative and found this s***
i cant broCrying at all the buildings on fire in the background
- Jul 24, 2022
I wonder what the story is
Jul 24, 2022LeinWhat I get from MMT is that since the state creates money, it can print and spend however it wants and everybody else will just accept it. But that doesn't make sense since it's the production process which determines the value of money (fiat or commodity) not the state. Hell even the state's mandate on what is money is shaky from a historical perspective. What I think MMT is meant to justify, state intervention to minimize the impact of slumps, is fine but not because the state can just literally create value out of thin air.
It's like they want to run huge budget deficits but need to come up with a theoretical framework where that won't lead to hyperinflation or a run on a currency. They point to the US a lot in this regard, but the reason the US can sustain these huge budget deficits is because most countries need to buy oil which is priced in dollars, and most big exporters rely on American markets to such an extent that they will always buy up US treasury bonds to finance American consumption and keep a favorable exchange rate.
thenextrecession.wordpress.com/2022/02/10/mmt-marglin-and-marx
a comrade sent me this
- Jul 24, 2022
MMT some nerd technocrat succdem bullshyt
- Jul 24, 2022·editedLein
What I get from MMT is that since the state creates money, it can print and spend however it wants and everybody else will just accept it. But that doesn't make sense since it's the production process which determines the value of money (fiat or commodity) not the state. Hell even the state's mandate on what is money is shaky from a historical perspective. What I think MMT is meant to justify, state intervention to minimize the impact of slumps, is fine but not because the state can just literally create value out of thin air.
It's like they want to run huge budget deficits but need to come up with a theoretical framework where that won't lead to hyperinflation or a run on a currency. They point to the US a lot in this regard, but the reason the US can sustain these huge budget deficits is because most countries need to buy oil which is priced in dollars, and most big exporters rely on American markets to such an extent that they will always buy up US treasury bonds to finance American consumption and keep a favorable exchange rate.
The MMT/charatlists are right insofar that money needs a state authority collecting taxes to make it a viable currency under capitalism.
What MMT guys ignore is that money is a representation of exchange value, in turn a representation of socially necessary labor time. Yes, you can create money out of nothing. But you cannot create value out of nothing. The price of money is not in the hands of the state, but in the velocity and mass of capital within an economy. Sooner or later, the price of money will correct.
The USA is a special case because its currency is in high demand due to its superpower status.
Ultimately, MMT happens when you ignore value discussions and just think about the economy in terms of money and money only, leaving out labor.
- Jul 24, 2022
- Jul 24, 2022·3 replies
look at my markets dawg our value correction is gonna be apocalyptic
- Jul 24, 2022·1 replykrishna bound
look at my markets dawg our value correction is gonna be apocalyptic
u just be getting more and more doomer can’t wait to see ur schizo doomer arc tbh
- Jul 24, 2022krishna bound
look at my markets dawg our value correction is gonna be apocalyptic
1. iPhone repairing
2. Digital health solutions
3. Supply chain management
4. Internet p***ography
5. Solar energy
6. Consulting
7. Consumer-level blood testing
8. Warehouse robotics
9. Wine delivery
10. Delivery - Jul 24, 2022·1 replyWomanpuncher69
u just be getting more and more doomer can’t wait to see ur schizo doomer arc tbh
i actually have a pretty good life tbh i just deeply hate markets and modern market derivative culture lmao
- Jul 24, 2022krishna bound
look at my markets dawg our value correction is gonna be apocalyptic
Not onlyfans
- Jul 24, 2022·2 replieskrishna bound
i actually have a pretty good life tbh i just deeply hate markets and modern market derivative culture lmao
I just despise (describes society)
- Jul 24, 2022SEGA GOON
I just despise (describes society)
