MMTers Vindicated by Musk — OOPS! \ stacker news ~econ

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MMTers Vindicated by Musk — OOPS!stephaniekelton.substack.com/p/elon-musk-discovers-the-magic-of

522 sats \ 17 comments \ @denlillaapan 18 Mar econ

I CALLED IT! #915702

"Hold onto your hats and clutch your pearls, because Musk and his team have just exposed a huge scandal."

(sarcasm)

Also, I don't have access (will not subscribe to ms. Kelton), and don't know a way around Substack paywall.

Actually, Not so sure I want to read what she says. I read the book; I engage with the MMTers back in the day. (here, or here or here). I find them very uninteresting

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100 sats \ 13 replies \ @Undisciplined 18 Mar

I don't understand the scandal. Doesn't everyone know that dollars are printed up out of thin air?

Maybe these computers are a previously unrevealed source of money printing, but why is that so important?

23 sats \ 11 replies \ @SwapMarket 23h

the government is supposed to borrow by issuing treasury bills/notes. but maybe that's what was happening behind the scene, and doge monkeys just did not see the whole story.

0 sats \ 10 replies \ @Undisciplined 23h

Ok, but either way it’s money creation out of thin air.

25 sats \ 9 replies \ @SwapMarket 23h

Not quite. It puts the burden to repay on the next administration. )))

92 sats \ 8 replies \ @Undisciplined 23h

Yes, but the Fed created the money to buy the bills/notes/bonds. They're obviously different monetary policies, but it's not like printing money out of thin air is novel.

There's a decent chance you're right about the DOGE folks just not understanding what they found. The Treasury does still produce actual specie. Perhaps what they found is related to that process.

24 sats \ 1 reply \ @denlillaapan OP 20h

I mean, no — by far not enough.

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0 sats \ 5 replies \ @SwapMarket 22h

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22 sats \ 0 replies \ @optimism 18 Mar

It's a scandal because if there is no scandal then there is nothing to distract you with.

49 sats \ 1 reply \ @SimpleStacker 18 Mar

MMTers are so weird. They are like a kid discovering something for the first time and telling everyone about it, despite everyone else already knowing about it.

YES WE KNOW THE GOVT DOESN'T TECHNICALLY NEED TO BRING IN MONEY TO SPEND MONEY... THAT'S NOT THE REASON WE OBJECT TO IT

0 sats \ 0 replies \ @denlillaapan OP 20h

Truly

14 sats \ 0 replies \ @kepford 18 Mar

MMTers are the televanglists of the econ world. God bless them.