Comments by "Tony Wilson" (@tonywilson4713) on "BlackRock's Fink: Modern Monetary Theory Is 'Garbage'" video.

  1. Larry Fink loves one thing - His way. On MMT I am reading Stephanie Kelton's book "the Deficit Myth" and she makes the very basic point on deficits. If a government (any government) spends $100 and taxes back $36 then there's a deficit of $64 fine. She asks: WHERE'S the $64? It can't just vanish it has to be somewhere, bank accounts, stocks, assets, whatever. Its just can't not exist. So the real questions are: Who's got it that $64. What are they doing with it. More importantly what did the government get for that $64? Did they get something that benefits the economy or the general population or did the government just benefit SOME of the population. That's what Larry hates. MMT gets people to think about where the money ENDS UP and who benefited
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  2. Agreed I've watched a bunch of here talks. The first time I saw her I thought she was nuts but then did a podcast with Mark Blyth on her book "The Deficit Myth" which I finally got a hold off and have just started. I liked how she started with admitting that even she thought it was nuts until she hit the question "where does the money go?" I'm an engineer and I like the logic of what she's saying which is why people like Larry Fink hate MMT. As she says in the government spends $100 taxes back $90 then there's a $10 deficit. She asks where's that money and what did the government GET FOR IT? That's what Larry hates, he doesn't want people to know where that money is or who's benefiting from it.
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  3. Larry Fink loves one thing - His way. On MMT I am reading Stephanie Kelton's book "the Deficit Myth" and she makes the very basic point on deficits. If a government (any government) spends $100 and taxes back $36 then there's a deficit of $64 fine. She asks: WHERE'S the $64? It can't just vanish it has to be somewhere, bank accounts, stocks, assets, whatever. Its just can't not exist. So the real questions are: Who's got it that $64. What are they doing with it. More importantly what did the government get for that $64? Did they get something that benefits the economy or the general population or did the government just benefit SOME of the population. That's what Larry hates. MMT gets people to think about where the money ENDS UP and who benefited
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