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Bernie Sanders announces Senate re-election bid

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  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Ultimately narrow minded childish argument.

    "If we magically got rid of derivatives tomorrow then corn may cost $10/cob one day and $.50/cob another and every product made with corn or soy will dramatically rise and crash depending on the rainfall of a given year."

    The only thing I ever said about derivatives was to reset the laws prior to 2000 and the CFMA.

    You explain to me how mortgages fit the description of futures that you posted above about corn and soy.

    Instead of proposing arguments why don't you familiarize yourself with the subject .

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Carlitos Wrote:

    I’m not sure I follow. The accounts that get credited are the ones Congress decides to have credited.

    I think it would be appropriate to say that MMT’ers favor crediting accounts when it serves public purpose.

    Govt exists to organize and manage public infrastructure that serves the governed.

    Carlitos, If Congress decides to credit accounts, how would the lucky accounts be determined . That also presupposes large businesses or branches . The trouble is the brakes will be hit big-time when one of those accounts does business overseas. Another problem is dealing with real money. A significant part of the income of the lower classes is involved in real cash transactions. Crediting accounts works okay for discretionary money but the millions of lower class working people deal in real cash. The same will be the case when large transactions are involved in foreign transactions . Chances are foreign partners will baulk at MMT money. How is the new MMT created money any different than than countries now in trouble printing cash.

  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    First of all, I’m describing how it works today. The govt has operational capacity to spend in an unlimited financial capacity. So I don’t know what you mean by “MMT money.” All govt spending is done by crediting accounts in the banking system (even in the case of someone who cashed their Social Security check at the check cashing store).

    Congress decides what the federal government spends, in terms of quantity, prices paid, and what for.

    I think the nation would be better served by government spending on Democratic priorities, ie healthcare, welfare, job guarantee, housing, infrastructure, social security, etc. and massively cutting taxes on the working lower classes.

  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    The euro currency members are like US states, not the US federal govt, or Japan, UK or any nation that issues its own currency. You have to recognize the distinction between currency users vs issuers. We could become Zimbabwe; we cannot become Greece ( unless we choose to do so).
  • Independent
    Ft.myers, FL
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    Carlitos Wrote:

    First of all, I’m describing how it works today. The govt has operational capacity to spend in an unlimited financial capacity. So I don’t know what you mean by “MMT money.” All govt spending is done by crediting accounts in the banking system (even in the case of someone who cashed their Social Security check at the check cashing store).

    Congress decides what the federal government spends, in terms of quantity, prices paid, and what for.

    I think the nation would be better served by government spending on Democratic priorities, ie healthcare, welfare, job guarantee, housing, infrastructure, social security, etc. and massively cutting taxes on the working lower classes.

    Carlitos, yes you've got it right; an healthy country costs less to maintain.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    One problem area is the segment of the population that deals in cash. The non discretionary money people that deal in cash .