Comments by "Andrew Sainsbury" (@andyinsuffolk) on "Does MMT say we can spend without limit?" video.

@maria8809ttt - the corrupt crony capitalists were saved by their corrupt political buddies as they wanted the gangsterism to continue - it was no advantage to the majority coerced into paying.
2
MMT relies on 'mickey-mouse' fiat money. The entire raison d'etre for fiat currency is to free politicians from hard constraints or even the rigour of putting aside reserves in good times as per the 'classic' Keynesian model. Politicians want to spaff the cash whilst they are in power and any argument that legitimises their freedom will be favourably received. After several decades of mickey mouse economics we know that the global economy is far from perfect and cash loses to assets - which means the guys & girls selling their labour lose out. MMT is just another justification that will send wealth to the financiers and empower the political classes against the people - however good the intentions. I would like to see an analysis of how much weath has been stripped from the 'cash holding masses' by the use of fiat currency - it won't be trivial - but few economists will find political support for that research - far easier to massage the rulers egos and free them to pick from the magic money tree.
1
@maria8809ttt - the centralised managed economy with state banking, licensed money creation and tax-payers 'rescuing' banks is not free market capitalism. It is full-on big state cronyism - 'soviet' control. The real problem is always politicians and their ideology re-directing resources toward their preferences rather than freeing people to choose their own course.
1