Why Can’t The US – As Ocasio-Cortez Suggests – Print Its Way Out of Debt? – IOTW Report

Why Can’t The US – As Ocasio-Cortez Suggests – Print Its Way Out of Debt?

Thursday, 7 March 2019, 1:15 MJA Uncategorized 26

CNS: Back in January, I wrote about the $42 trillion price tag of Alexandria Ocasio-Cortez’s Green New Deal.

To pay for this massive expansion in the burden of government spending, some advocates have embraced “Modern Monetary Theory,” which basically assumes the Federal Reserve can finance new boondoggles by printing money.

I debated this issue yesterday on CNBC. Here’s a clip from that interview:

Wow, this Modern Monetary Theory (MMT) reminds me of the old joke about “I can’t be out of money. I still have checks in my checkbook.”  MORE

 

26 Comments on Why Can’t The US – As Ocasio-Cortez Suggests – Print Its Way Out of Debt?

  3. It is clearly possible to have a person too stupid to govern. It is also possible to have a populace too stupid to be governed, only ruled ruled and commanded.

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  6. Isn’t anyone at Bwoston University embarrassed that they gave this idiot a degree in economics??? Honestly, somebody needs to interview the Dean of Economics Christopher Baum and ask him what the Hell have they got going on there!

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  15. von Mises explains it all.
    First in – First out – Last in – Last out.
    Who wins and who gets the shaft.

    Inflation is one of the tools by which the gov’t destroys itself (or its people, or rewards those in the know).

    (Uncle Al can explain all this)

    Socialism (hence, socialists) has no need of “money.” Their “monetary theory” is a lesson in psychosis because socialism is a mental disorder and cannot be reconciled with reality. The “perfect” state, the “Utopia” they’re always braying about (which never comes into being, by the way), where everything is “free” and everyone works for the “greater good” simply has no medium of exchange because there is no exchange. There is confiscation by the State and distribution by the State.
    Ethiopia under Mengistu Haile Mariam is an appropriate example: after the farmers crops were confiscated and taken to feed Addis Ababa the word filtered back that there was “free food” in Addis Ababa. The farmers, rationally enough, thought “Why am I sweating my ass off farming when there’s free food in Addis Ababa?” So they threw down their farm implements and made for Addis Ababa. Mariam had to call out the Army to force the farmers back to the farms, as everyone – EVERYONE – was starving when the effects hit.

    Typical socialist nightmare fever-fantasy – that Pelosi, Ocasio-Cortez, Sanders, and Schumer are trying to inflict upon us. And make no mistake – they aren’t misguided, they aren’t misinformed – History is available to all of us – and they have studied it with diligence and understand that socialism is a short-cut to tyranny with the support of a great many useful idiots and profoundly stupid and corrupt propagandists.

    izlamo delenda est …

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  18. Tim is correct. The Left as a global force is not stupid but knows exactly what it’s doing. In fact, its century of coherent vision and unity of purpose is awesome to behold, when you think about it.

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  20. @grool March 7, 2019 at 2:42 am

    > It is clearly possible to have a person too stupid to govern. It is also possible to have a populace too stupid to be governed, only ruled ruled and commanded.

    But that monetary boat has sailed. Struck an iceberg. And…

    Oh… now I get it.

  21. The U.S. government does not have control over printed currency. However it does have control over coinage. The U.S. Treasury could mint a coin for the amount of the national debt, hand it to the Federal Reserve, then tell them to fuck off.

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  22. Press release from Amalgamated Consolidators Inc. Limited:

    This is a real problem. we have listened, and our R&D department has been working on this. While printing new money would solve the problem, we have a quicker and more efficient solution.
    Our Rubber Stamp Division, who previously brought us the famous date stamp (as seen on obama’s Selective Service card), has, through meticulous craftsmanship, developed a new stamp for solving the fiscal, and climate crisis that now faces us. The new prototype is in the form of a ‘0,’ or ‘zero’ stamp. This stamp may be carefully applied to existing paper money and the denominations be thereby increased. There are two versions proposed: one for home and office, and another, easily portable variety which may be easily wielded in a checkout line or drive thru. An April 15 rollout date is anticipated. At this point in time, the department is working on the ink to be used. At present, only red ink will be available. Pre-release ordering is in effect through amazon, but please do not use our nyc address.
    Further details to be forthcoming

    1

  24. The reason history repeats it’s self is because idiots like AOC don’t learn the lesson and then they fall into the very traps that could be avoided.

    I’ve now lost all hope. There WILL be another Holocaust because these idiots will be the ones to usher it in. Our Jewish cousins won’t be alone. Those targeted will be any ethical monotheist who will not bend to the will of the state. Won’t make a cake for a gay wedding- off to the camps you go and so forth. I’ll keep fighting the good fight but I got lazy with my end of the world plans because we rode out Obama and Hillary lost. Thanks for the wake up call AOC.

  25. I have in my desk a $10,000,000,000,000 (Zimbabwe Dollars) note.

    If I had 9 more I could pay off Ocasio-Cortez’s imbecile scheme.
    If I had 22 more I could pay off America’s “Un-Funded Liability.”
    And with another 10 and I could pay off America’s debt.

    All that is necessary is for the gov’t to declare a 1:1 correspondence between the Zimbabwean Dollar and the Federal Reserve Dollar.
    Presto-Chango! Done!
    Like magic.

    izlamo delenda est …

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