Comments by "Tony Wilson" (@tonywilson4713) on "CNN Sh*ts All Over Student Debt Forgiveness | The Kyle Kulinski Show" video.

  1. Your absolutely right and its all BS. Mark Blyth (Brown U.) pointed out that during the recovery from the 2008 GFC $17 Trillion in cash was injected into the worlds banking systems and it did not create any inflation at all. Right now I am reading Stephanie Kelton's book "The Deficit Myth" and only last night was reading the chapter on inflation and what drives it. This John Hopkins clown has more shite between his ears than a sewage treatment plant. He's just spouting the same basic crap many economists do because they don't want to admit they have it wrong. I'm Australian engineer and pent my COVID time looking into economics, because I'm tired of clowns with economics degrees interfering in projects. We now have the same student debt issues here in Australia because we've followed the same economics. This student debt issue along with others in the supply chains and energy production are all the result of bad economic policies. These bad policies are prevalent in various forms across the entire developed world right now. Go listen to the Europeans and you'll here similar stories with similar explanations.
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  2. Apologies to all for the length of this. Everyone should go and watch Stephanie Kelton's lectures or read her book "The Deficit Myth" By the time you get 1/2 way through the second chapter you'll understand how full of garbage this guy is. He's preaching standard economic doctrine, which by now most people with functioning brains know there's something very wrong with. Disclaimer - I'm not one of her students. I'm an engineer on the other side of the planet in Australia. I spent a chunk of my COVID time looking into economics because I'm fed up with clowns with economics degrees interfering in projects. I just wanted to be able to push back against their crap. Right now here in Oz we are having a big discussion on skills and training. In 2005 while on a mine site in Australia I was told about a shortage of welders. I found (that with a basic welding ticket) I could get $50,000 more than what I was earning as an engineer and at that time I was on the best ever wages. Just last week I heard that in America a high school graduate who's done a basic 6 month welding course earns more in their 1st year than a college graduate does in their 1st year. How is it that I'm hearing the same story today about America I heard on an Australian mine site 17 years ago? This entire skills training and tertiary education issue is not an American problem. Its a problem across most of the Western World because we have all been following similar economic policies and so long as we keep following them we are all in trouble.
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  3. Follow up with some further explanation - apologies for the length. I have heard and seen push back on the student debt as a from of MMT (Modern Monetary Theory) under the claim MMT promotes "free money." Stephanie Kelton is an MMT advocate and the first time I heard her speak I thought she was bonkers and that MMT was a fairytale and nonsense because what she was said flew in the face of everything we are told about economics. Then Mark Blyth Interviewed her as part of his podcast -> https://www.youtube.com/watch?v=NfKiW0Gfn04 I've read Mark's book Angrynomics. Its a really good start on the subject of what's actually going on. Here's his intro to that -> https://www.youtube.com/watch?v=MXJD5rE4omY In Stephanie's book she admits when she first heard about MMT she also thought it was bonkers, because everything about it sounds backwards. But then anyone can look at economics over the last 25+ years and think its already backwards. So looking at economics from another perspective makes sense. What MMT is actually about is explaining what money, taxes and government spending are and how they work. Its the reason why this clown from John Hopkins is so adamant about his position. He and his kind are terrified that the rest of us will see behind their economic curtain and realise its been a giant "Wizard of Oz" con. Before Kyle spoke about it, Mark Blyth pointed out the 2018 Rand Report on wages that showed how the top1% of America had made $47 Trillion between 1975 and 2018. He's talked about the long term interest rate decline and Branko Milanovic's Elephant graph of wage growth. PEOPLE KNOW THERE'S SOMETHING WRONG WITH OUR ECONOMICS. How can our societies be so wealthy and yet we have so many people struggling. At the most basic level the MMT people are trying to change the perspective on how we look at economics. Even Warren Mosler has said he doesn't know if MMT is right but what he and many others are saying is that staying in the current economic model IS WRONG AND WE KNOW ITS WRONG. I don't agree with Kyle that all higher education should be free, because if there is no value put on it people will devalue it. That happened in the past and we don't need to repeat the past. However the cost of education needs to be such that its a worthwhile investment. The current costs of many degrees do not make it a worthwhile investment and any economist should be able to explain that, but most wont because then they'd have to admit to all the mistakes they've made.
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