The Transylvania Times -

Fake Economics

 

May 20, 2019



A specter is haunting the American political landscape, specter of Modern Monetary Theory or MMT for short.

I’m nearly 60 years old, and as far back as I can remember, Democratic and Republican leaders have agreed that the “boogeyman” national debt clock poses a clear and present danger to our American way. Both parties have done a fantastic job of keeping us on the edge, in fear of the day when the “chickens come home to roost,” regarding our ballooning national debt. The reality, however, is our debt clock is in excess of $22 trillion, yet our economy is booming, with inflation below 2 percent and an unemployment rate at its lowest in 50 years.

To anyone with even a rudimentary grasp of the aforementioned MMT, the seeming contradiction between the current outstanding economic statistics and the $22 trillion in debt makes perfect sense. I’m fairly certain that Sen. Bernie Sanders understands MMT since he appointed Dr. Stephanie Kelton as the senior economic advisor for his presidential campaign. Kelton is the face and the leading voice of the MMT movement, a movement that disrupts the status quo of the Republicans and Democrats establishment alike.

Consider, for just a moment, the fact that our own Sen. Thom Tillis, along with four other Republican senators, just issued a resolution condemning MMT. So, you have to ask yourself, Democrat or Republican, why the opposition to MMT doesn’t want you to know the truth. After all, MMT simply and accurately describes our current, sovereign currency-issuing, fiat monetary system that has existed since Nixon dropped the gold standard. Nothing more, nothing less.

If it’s a Green New Deal you’re after, take the time to investigate MMT and learn the economic lies we’ve been spoon fed for so long. I highly encourage you to take the time to explore the YouTube videos of Stephanie Kelton, Warren Mosler, L. Randall Wray, or J.D. Alt as a great starting point toward escaping this world of “fake economics.”

Ron Hall

Pisgah Forest

 
 

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