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View Diary: Jack Lew and the premature descent from heaven: A tale of the American nomenklatura (89 comments)

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  •  Pitch Perfect (0+ / 0-)

    on Jobs, Sanders, King George, and "the War Formerly Known as on Terror".

    Oh, well, one quibble re deficit. There is no "deficit" that needs to be "fixed". A "monetarily sovereign" government budget is not like a household budget. It is a holdover from the gold-backed currency days -- and continues to be propagated by

    You're right that the focus should be on jobs -- all the way to "full employment". And a monetarily sovereign government can -- despite Obama's cluelessness/denials -- issue currency to pay all the "debts" owed to banksters -- and invest as needed for the public purpose in the economy until we start hitting "real" constraints like "full employment" -- all without fear of inflation.

    "Deficit" is a badly choice for an account. It's not a negative. It's a positive -- particularly in a down economy. It's government's "net contribution" to the economy.

    MMT (Modern Monetary Theory) corrects all these errors.

    See here, here, here for starters (and here for a fun, quick, explanatory video "for dummies").

    United We Understand — e MMT unum

    by dorkenergy on Mon Jan 21, 2013 at 09:15:04 PM PST

    [ Parent ]

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