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Modern Money

Learning the Modern Money system, macroeconomics, aka MMT


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Mike Norman on How to Talk About MMT

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1Mike Norman on How to Talk About MMT Empty Mike Norman on How to Talk About MMT Tue Feb 01, 2022 9:24 am

Senexx


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One of the first arguments we always run up against when we meet someone and we get into a conversation about debt. They'll say something like

We're broke! We'll never gonna be able to pay it back!

So when I hear that I say it like this "What?! You mean We've run out of dollars?"

That stops them dead in their tracks and makes them think

If they give you a comeback at all it'll probably be

Oh yeah but you can't just print money

And to that I say "Why not?"

They will probably then start talking about how that'll lead to hyperinflation and you're going to devalue the currency and the money will be worthless, etc.

You then ask "Tell me if the govt prints money to build roads, bridges, schools, scientific research institutes, alternative energies and all the things that make up a high standard of living WHY is that going to make the currency weak?"

They might say if the govt did it then launch into a socialist tirade

Then ask them what if the govt paid the private sector to build them like all those military assets we have, is that socialism?

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Another thing you can say is when they say all this spending is just printing money

You say well all government spending is just printing money and all taxation is money unprinting

They might come back with is but "Yeah but you can't just print."

You can go back to the line about creating real assets (those listed above for eg) that make up your standard of living as a nation


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