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A Conspiracy Against MMT? Chicago Booth's Polling and Trolling

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AOC - the real target of recent smears against Modern Monetary Theory?
AOC - the real target of recent smears against Modern Monetary Theory?
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MMT continues to inflame hysterical attacks. Who would have thought that it would take MMT to bring together everyone from the crazy right to the insular left to unite in common cause against an obscure theory of money and government finance? The attacks seem to be so concerted and coordinated that one starts to think there just might be a conspiracy behind them. But why?

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At neweconomicperspectives.org

 

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of articles for (more...)
 

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Scott Baker

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I've interacted with both co-founders of MMT, and I have my own criticisms, since I am a Greenbacker. See my previous articles for more details about that, or my book, "America is Not Broke!"

But the coordinated attack against MMT is breathtaking for if you're an economics nerd, or even in the mainstream now, with NYT columnist Paul Krugman writing repeatedly against it...or at least how he interprets it.

MMT Co-founder Randall Wray spares no punches in making the case this is really an attack on progressive visions and on AOC specifically, with the old killer-of-all-progressive ideas: "How are you gonna pay for it?"

This is what's really going on here.

Submitted on Monday, Mar 18, 2019 at 5:00:34 PM

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Howard Switzer

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MMT is a fraud, it is a banker funded effort to protect the current system under the undeserved mantle of progressivism and to keep the lid on and discredit real monetary reform. The economists who support this ruse do nothing but confuse the real issue which is: Do we want our money supply created and controlled by unelected private profit seeking monopoly or do we want our money to be created and controlled by elected public authorities dedicated to public purpose? MMT deserves the attacks it gets becasue it uses word games and lies to confuse the issue....such as "taxes are not spent they are destroyed," "money is always a debt," and the worst, "the government creates all our money" ...is all bullshit. I suggest people read information from the Alliance for Just Money, American Monetary Institute, the Sovereign Money Manual at Positive Money UK, IMMR (International Movement for Monetary Reform (and the 30+ member groups), and sovereignmoney.eu for real information on the money system.

Submitted on Monday, Mar 18, 2019 at 6:57:20 PM

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Art Costa

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MMT is a fraud (as is the monetary Ponzi scheme system in general).

The US economy is run on fossil, control of it through the process of world domination by fulfillment of 2020 Full Spectrum Domination. Hydrocarbon makes the corporate/capitalist engine roar, and the US controls it so far, with petro-dollars. That's why the US is everywhere to maintain total control of fossil. Without energy there's no civilization. Can fossil be replaced? Not under these conditions. It will take a quantum cultural leap.

I've supported public banking, managed democratically and away from the reach of capitalists (in or out of office). But this is a drop in the proverbial bucket.

Until the full force of our activism/energy is put into crippling the military, shrink it to something you can drown in a tub (where did I hear that before), our collective goose is cooked...and that's no joke.

Submitted on Wednesday, Mar 20, 2019 at 7:17:18 PM

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Christopher Zell

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Will foreign nations accept the MMT dollar for imports? Will foreign banks and investors accept the MMT dollar to pay for US Treasury debts?

Or will this lead to currency controls like past communist countries?

Submitted on Friday, Mar 22, 2019 at 3:16:41 AM

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Scott Baker

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It seems everyone is bashing MMT these days, to thwart Alexandrea Ortiz Cortez, says Bill Black in his own article.

I left a long comment supporting the Greenback alternative in the original source article from a CATO institute repost, here: https://www.alt-m.org/2019/03/20/mmts-big-coin-gambit/

Submitted on Friday, Mar 22, 2019 at 12:49:41 PM

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