The fact that the government is utterly financially unconstrained in just the way Trump noted today is the hugest, most subversive Truth he has told to date. And of all the truths he has ever told, it is the one that libertarians should be proclaiming the loudest.
It's the economy, stupid.
The re-shuffle of the last U.S. election that put austerity-minded Republicans in power has ironically resulted in a new anti-austerity economist being hired by Senator Bernie Sanders in the Senate Budget Committee.
What do the president, the party leaders, all members of Congress, all the headline economists (both hawks and doves), the entire Federal Open Market Committee, and just about everyone else apart from Modern Monetary Theory (MMT) proponents agree on?
The trade differentials in the eurozone are not in the least an insurmountable problem, at least not in theory.
Federal deficit reduction should be off the table, and the burden of proof of a sufficiently high long term inflation risk be on those who want to put the deficit back on the table.
Applying this to the US to replicate the Wiemar inflation Congress would have to increase the deficit to about $8 trillion
I realize it's not a perfect analogy, but due to poor communications, the battle of New Orleans was fought well after the
It's been more than 10 years since the economics department at UMKC introduced its own currency. It's called the buckaroo, named in sync with the school mascot, the kangaroo.
He warned along the lines that that the U.S. could become the next Greece, and be faced with some kind of a sudden financial
There is no such thing as the US becoming the next Greece. There is no such thing as the US getting cut off from spending by the financial markets and forced to go begging to the IMF to get US dollars to spend.
There is no looming financial crisis for the U.S. Government, the scorekeeper for the U.S. dollar. The U.S. Government can't run out of dollars, and it is not dependent on taxing or borrowing to be able to spend.