Comments by "Edward McLaughlin" (@edwardmclaughlin7935) on "Stephanie Kelton: The big myth of government deficits | TED" video.

  1. Kelton's argument relies on its incompleteness: "...as the issuer of the currency, the Federal Government can never run out of money." Fine if that's where it stops. However, for every trillion dollars that the Fed' issues in this manner, the pool of previously issued dollars is degraded in its buying power. We cannot get away from the fact that money - its creation and its expenditure - has real world effects which must be accounted for. MMT is happy-clappy, Sesame Street economics. If adopted fully, it will ultimately lead to hunger, starvation and death on a scale never before experienced. One has to question how and why the proponents of this theory have not bothered to figure-out its endgame. In all probability, they understand perfectly.
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