Comments by "Tony Wilson" (@tonywilson4713) on "Economist warns Modern Monetary Theory is dangerous" video.

  1. Yeah there's actually a hell of a lot that can be said. Like WTF about the staggering transfer of wealth from working and middle class people across the developed world to the upper class? The Rand Corporation put out a study several years ago that said the Top 1% of America had made $47 Trillion since the start of the Reaganomics revolution. That number is well past $50 Trillion now. The Congressional Budget Office Report on Family Wealth says that the people who caused the 2008 GFC and then got bailed out with $4 Trillion from Bush and another $4 Trillion form Obama have never paid it back despite being over $20 Trillion wealthier than they were before the GFC while the people hardest hit by the GFC have still NOT RECOVERED. Can you explain why those people who were bailed out don't have to pay back the money? Meanwhile everyone else has to pay their debts back. My criticism of people like Stephanie Kelton and Bob Murphy is they harp on about their theories while REAL FACTS are being dumped on REAL PEOPLE. Economists have answers to everything and solutions to nothing.
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  2. Being utterly ignorant of reality is even worse. ANY CHANGE (Up or Down) in a currency has ZERO effect on things produced and services provided INTERNALLY to that nation. It only affects how that nations trades with EXTERNAL markets.
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