Comments by "Dr. Ricco Lindner" (@Dr.RiccoMastermind) on "Garys Economics" channel.

  1. One solution for bigger communication: team up with the likes of Richard J. Murphy, Steve Keen and friends and make a Road show - come to many places and offer low cost podium discussions very close to the people. Pick up the the important issues in an interesting way, like "Have you ever asked ypurself, why ..." or "What do you think where most of the money ..."
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  2. I am a friend of MMT and I dont think what you propose would work like this. Besides the point the taxed money is already "digitally burned", no selling of assets by rich people to pay higher taxes would benefit any ordinary people. How should they get it, by a villa or large amounts of stocks? It also would be pointless to "repay" and neutralize the public deficit with this extra tax money. In the end noone has any extra (net) money from Covid phase. No, instead the state would have extra capacities to spend money again to the ordinary and poor people via different channels. This would help for a while until the money ends up again with the rich. The state usually did not give money directly to the rich during Covid but they still got it. So there must be a cycle: 1. Spend public money to the ordinary people 2. Let this money drive economy until rich people take the money out of economy into asstes. 3. Tax the assets which are not "productive capital". And always keep in mind: - the state does not need taxes to spend - a state deficit is good because it is equal to net assets in the private sector. - public and private spending should always be dynamic and complementary - the privat sector can't have net wealth without public (or trade) deficit
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  3. Eventually, you are back!! 😎🙏🇩🇪
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  4. No, Gary, please understand that banks don't lend out savers deposits!!! And currency souvere8gn countries like the USA or UK are usually not in debt to rich people, the later just want to think they are, because the bought guilts and bonds. Selling bonds is not equal to lending money from rich private people! Like for stock holders it's all "second ahnd, from secondary markets. Please talk to Prof. STEVE KEEN. Privat debt is also just newly created giral money redeemed by paying back the debt. So mortgages are owned by the bank, not by savers. However, this doesn't affect the good points you're making here!!
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  5. I think you are right. I spread the word at every opportunity
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  6. Please, Gary, you are wrong! Private Banks are NOT just the middleman between the rich and the borrowers! Banks do NOT borrow money from the rich and lend it on as credits. There is no such things loanable funds!! You also completely left out the debt of the government's. Else, you still are right about money being transfered from the poor to the rich, but Banks are part of the problem! Please, please, talk to Prof. Steve Keen or Prof. Richard J. Murphy 🙏🇩🇪
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  7. Please Gary, upgrade you great knowledge mit MMT and double entry book keeping. Please have a good long talk to Prof. RICHARD J. MURPHY or maybe even Prof. STEVE KEEN
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  8. Dear Gary, we need more of your advice! The problem is as you said, Governments will fail again and again in each Western country, because they all think neoliberal or they don't handle inequality strongly enough. But the rich get even richer, because not only (mainstream!) Economists but also mainstream politicians beoong to the rich, as well as high junges, CEOs or even the leaders of certain NGO, like our German "Bund der Steuerzahler" (Union of tax payers) who mostly fight for the big and Entrepreneur tax payers, not for the "normal" people Media is also successfully rallying against the Left or whoever wants to tax rich guys So, how CAN we actually project our position??
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  9. I got your channel recommended. Most of your content in this video is great. But your picture of devaluation currency by government spending seems very wrong for me. I mean you come from the financial sector, you know what moves currency prices
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  10. Please team up with Prof. Steve Keen! There IS data about who got richer and who not, at least for the US, generated by the congress. It is very clear that the top 10%, specifically top 1% got much richer. They didnt stop getting wages (if ever), still inleading positikns and earning from capital revenues
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  11. Thus issue of a 2 party System in UK and USA always reminds me of The Simpsons (S8E1 Halloween special), where aliens took over the presidential candidates Bill Clinton and Bob Dole (accidently Homer kills the originals once they came to their minds 🙈) The important scene, aliens speaking: Kodos: "It's a two-party system! You have to vote for one of us! Voter: "Well, I believe I will vote for a third-party candidate" Kang: "Go ahead! Throw your voice away!"
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  12. Your English co-fighter RICHARD J. MURPHY that he rather put higher taxes on the riches income. Not because he would not votE e for taxing the wealth but its to complex and burocratic to assess. Not all wealth "sits" in the UK. Taxing income more heavily might then be more realistic, if they cannjeep their actual wealth - at least as a first step Please team up with him 😊
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  13. Hey Gary, I must correct you a bit. You are right that technically all money is represented as equal sums of debt and credit. However, the money created by the bank of England is not like a loan of a private bank. The debt the central bank accumulates by issuing or spending money is no debt that requires redemption, not even interest payments. It's just a logical debt in double entry book-keeping. In terms of mortgages ofc you're right! Please, please have a good talk with Prof. Richard J. Murphy🙏🇩🇪😊
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  14. @garyseconomics  sure, but it always, they would not need to (as in 0 or negative interest rate times), only to set basic interest rates for private banks. Not long ago no interest was paid on reserves, when the amount of circulating reserves in Europe was carefully balanced everyday. Therefore bonds as interest-bearing alternativ to reserves are wanted so much
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  15. Financial makets must be stopped to drive government finances!!
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  16. And if governements were really working for the ordinary people and if they understood that taxes are not neccessary to collect revenue for public spending (its the other way round, spending before taxing) then the government might redirect taxes better to stopp inequal redustribution of wealth. But since politicians belong to the rich as well or are heavily attached or dependent on them, I dont see this future coming 🫤
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  17. Gary, the problem is that both neoliberal parties, Tony's or Labor, believe they have to borrow the the pounds they issue themselves! Together with a stupid high interest rate policy it causes trouble in their model. It is not that a problem in terms of paying for the interest, but the private sector should not receive so much interest for just saving the money instead of investing in productively. This neoliberal model Will not sustain, at least not for the poorer 90% of oeople
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  18. No! The government is NOT lending the money from the Bank of England, and it doesnt need to be payed back! No borrowing, no loan. Both, government and its Treasury can be viewed as a single entity. The rest is just doinle-entry bookkeeping
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  19. Please have some talk with Prof. RICHARD J. MURPHY or Prof. Steve Keen some day 🙏😎
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  20. Dear Gary, in real terms even the public debt to GDP ratio itself doesn't mean much as a stand alone figure. That's why the invented EU 60% target is meaningless
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  21. According to Prof. Steve Keen, mainstream economic studies at universities also underrepresented, leave out or teach the wrong way other elemental parameters like money, energy, inflation and a few more.
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  22. Have you already spoken to and teamed up with Richard J Murphy!? You might give each other further relevant insight and maybe cheer up your spirit. You cant run this Marsthon alone. We need a whole team with runners and water boys (though I rather feel like a water boy, having the understanding but not professional economic training or speaking skills)
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  23. Very well done! Thank you! 😎🙏🇩🇪
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  24. Good luck for keep going, thank for all you've already invested, not only money but tome and patience and wisdom and experience
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  25. A video every 2 weeks would be fine as well, or doing it just as a podcast, if you dont like speaking into a camera (maybe in parallel), like Richard J. Murphy. Then you also easily might invite friends or even opponents of you economical ideas
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