Comments by "" (@blackbulldog4897) on "Government surpluses don’t create cash piles waiting to be spent" video.

  1. MMT isn't something that's embraced or not embraced, it describes how our fiat money system works (particularly govt fiscal ops) now, today.
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  2. The idea of creditworthiness isn't applicable to a currency issuing govt with it's own fiat, floating currency. Yes, the £20bn "black hole" is a nonsense.
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  3.  @physiocrat7143  Oh, right. To be clear, MMT isn't a theory. It's core is a description of how fiat money systems, including ours, work. It describes how govt has to exhale via injecting it's currency before it can inhale by collecting taxes. What do you mean by "non destructive tax system"?
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  4. Can you explain what you think ZimWei etc have to do with anything I said?
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  5. Couple of things to note: 1. Interest rates on debt and issuing debt itself is a purely political choice 2. The "debt" is simply the amount of £s govt has spent into the economy but not yet taken back via taxes. It's the net money supply. 3. The only "borrowing" the UK govt undertakes is via it's own bank, the BofE.
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  6. MMT describes how fiat money systems work, now, today. The BofE is not independent in any way from govt.
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  7.  @physiocrat7143  there's a lot in there, firstly, please explain what you think the hyperinflation hyperventilator favourites ZimWie etc have to do with anything I posted m
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  8. It seems you don't understand how the state pension works; it's a case of how much of current production those under a certain age are prepared to give up to those over a certain age.
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  9.  @scottyfive4319  I've no idea what you are trying to say. The reality of the state pension is exactly as I said above.
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  10.  @scottyfive4319  it's not doomed to failure, in fact it's the only way the state pension can work, as a direct transfer from workers to those who are retired. It's always a question of stuff and how much of it those below a certain age are prepared to give up to those over a certain age. It's never anything to do with money and "pots", there's no state pension "pot".
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  11.  @physiocrat7143  you understand "government debt" is the difference between the £s govt has injected into the economy and the £s it has drained out of the economy (i.e. the £s in the economy, the net financial assets in the private sector) and the only borrowing govt does is via it's own bank, the BofE, yes?
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  12.  @skyblazeeterno  I've no idea why they settle on 25%. However, if you think of the economy in terms of available resources, what could be achieved for the public good with those resources and what those resources are actually being used for you can get an idea of what is being "lost".
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  13.  @skyblazeeterno  You are asking me why the other person said 25% of the economy is "lost"?
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  14. What power do you think the IMF has over the UK parliament?
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