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Also from the NY Times: Europe Russia, seeking a bigger army, moves to raise the top age for military service. If the full Parliament approves the bill, Russian men as old as 30 will be subject to the country’s mandatory year of military service. By Ivan Nechepurenko PRINT EDITION Russia...

The democrats need to do an emergency brain transplant on Biden. Put Stacy Abrams brain in there. Can anyone, besides me, imagine the carnage that would result from 300 lbs of orange blubber going up against pathetic, white as a sheet Joe Biden using Abrams brain? There'd be a giant pool of...

No problem. He'll run from prison just like Debs did.

It isn't possible for him to bring tons, but he did a great job of bringing 300 lbs of blubber. Now, that's real substance! I was hoping Trump would tell us about his golf match with the fifteen year-old kid! Trump looked like he might be more closely related to a chimpanzee than some of the...

Here is something to think about. Without deficits there would be no money left in the private sector to spend, to invest, or to save. Said another way, if the private sector wants some money, there must be a deficit. This comes from a simple equality even grade schoolers would understand...

Obviously there is at least one person who does take it seriously. A more correct statement might be: "Many, even some economists, although that number seems to be decreasing, don't take MMT seriously."

I guess you have nicely illustrated how it is that people can convince themselves of things that to an unbiased observer are obviously wrong. For example, some people actually believe the last election was stolen and of course the others who say this are lying. We are sometimes amazingly...

Sorry about the typo in my post you were responding to: "What you are calling the "debt" is not imaginary! It's just not debt. It is a future obligation to expand the money supply (Not the total money, but the "money supply") by an amount not compensated by future revenue increases are spending...

I think you meant to say, I can stick with ersatz until proven wrong. :D You are right of course. The majority of writing re the so-called national debt does "say different"!, just as at one time the majority of writing re planetary motion had the sun going around the Earth. However the MMT...

The product of 15 years of study I suppose. It is helpful to look at these transactions not solely from the lenders viewpoint, which you naturally do because you are playing the role of the lender, but from the ersatz borrower's viewpoint as well. "You have to look at the entire Treasury-Fed...

What you are calling the the "debt" is not imaginary! It's just not debt. It is a future obligation to expand the money supply (Not the total money, but the "money supply") by an amount not compensated by future revenue increases are spending cuts.

You, as an exception to some of the crowd here, are, it seems, actually beginning to catch on. This may help. A fundamental difference between real borrowing and ersatz borrowing is that there is no printing in real borrowing! That's not an explanation of why ersatz borrowing follows...

We have something in common. We both like T-Bills right now. It's taken me awhile to recognize that in ordinary lending and borrowing the perspective of the transaction is the same for the lender and borrower, whereas in ersatz borrowing, which is what the governments of wealthy, advanced...

The Saudis will still sell oil for dollars, just not exclusively. This seems to me to be an inevitable continuation, and perhaps an acceleration, of what has been taking place for sometime, viz., the U.S.D. sharing more and more of its reserve currency role with other currencies. The...

It is only a hedge , so long as people believe it is a hedge.

And too, he started rich and got richer. He is definitely self-indulging , and definitely not self made.

We do in fact cover 100% of all deficits with printing. Then later we issue Treasuries in amounts equaling the deficit. This gives the appearance of borrowing. The U.S. in its present reincarnation does not actually borrow so much as a penny. It's impossible for any country to borrow the money...

Thanks. I will do that. Here it is: https://www.elitetrader.com/et/threads/ending-the-deficit.379501/page-3#post-5966682

you can take MTG out of the Trailer Park, but you can't take the Trailer Park out of MTG.

Yup. As you know, the question of why we bother to sell bonds has been answered. [post# 29 in the Economics forum thread "Ending the Deficit" started by Zdreg, May12, 2024]