..and what to do about it. There are known and time tested solutions that do work for everyone, including the Pete Peterson & Mitt Romney (both vulture & venture capitalists alike et al.) of the world despite what they say they believe. Solutions that throughout history the adherents of the "conservative" movement have ignored and these days have tasked a Paul Ryan type to attack as their front man for fiscal shenanigans in their on going pseudo-ideological effort to dismantle all social programs that they've tried yet heretofore failed to privatize for profit while securing greater access to and control of the treasury, especially since the New Deal
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Read this Diary up-side-down - it's more fun (start below the squiggle :)
In the top section of this post is an exploration into MMT (modern monetary theory) which sounds heavy but it's actually explained very clearly by Dr. Stephanie Kelton.
This first part above the divider squiggly can be skipped over if your already familiar and want to go directly the meat of it which is a discussion/presentation by Dr. Stephanie Kelton answering the question: Does more government help or hurt?
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The first part, since it is from 2012; the important MMT stuff that can wait until later:
So this is not a written Diary, but a collection of links that really helped me out in begiinning the understanding sovereign currency and why the GOP's harangue comparing government investment spending and deficits to a household budget is complete bunk. A propaganda device to further their agenda of austerity. That and much more is covered in this interview approximately 48 minutes in length with Dr. Stephanie Kelton
ANTIDOTES TO PETE PETERSON’S LIES by L Randall Wray | October 30, 2012: http://www.economonitor.com/...
L Randall Wray highly recommends Dr. Stephanie Kelton who in my opinion has one of the most clear and understandable explanations of how every piece that constitutes “movement conservative” is false, economically to the foundation of so-called ideology itself. All of it. From austerity, the role of government, taxation, treating the Federal Budget like that of a household, modern monetary theory, to the debt and deficit and probably many things that are beyond my ken
Get ready. The first order of business after the election will be an all-out concerted effort to dismantle Social Security and to turn the entire retirement system over to the Vampire Squids.
And it’s all based on lies about government running out of money. Anyone who’s been reading this blog knows that is literally impossible. For those who need reinforcement, one of my UMKC colleagues has just provided an excellent explanation.
Here’s Stephanie Kelton, in perhaps the best interview I’ve ever heard on Modern Money Theory
This is the Interview of Dr. Stephanie Kelton by Harry Shearer @ link (click play on the second from top video ctitled 'interview with special guest Dr, Stephanie Kelton'):
http://harryshearer.com/... It is 48 minutes of pure informative economic reality, and very user friendly –
even for fiscal/econ dummies like me
Here is the full transcript of ‘interview with special guest Dr, Stephanie Kelton’ link: http://harryshearer.com/...
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Please check out Dr. Stephanie Kelton next up, or first up, for some excellent discussion on what works economically, what is needed to secure the future of all people with many accurate informational charts from reliable sources displayed in her slideshow presentation
Start here
This
That was 2012. Here is a presentation by Stephanie Kelton from September 16, 2014:
The Economy: Does More Government Help or Hurt? (With the full slideshow of all the charts used in the presentation @ link)
Link to Q&A: https://www.youtube.com/...
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Here are Dr. Stephanie Kelton's 5 basic recommended investment opportunities as solutions to begin with:
♦ Federally-funded jobs programs modeled on the WPA (Works Project Administration), CCC (Civilian Conservation Corps - by MB), and NYA (National Youth Administration)
♦ Infrastructure [investment in grid to accommodate clean renewable energy - diversified solar - my input]
♦ Education (Pell example)
♦ Student Debt
♦ Research and innovation [renewable energy - my input]
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With some helpful links:
Dr. Stephanie Kelton is the editor at this blog; New Economic Perspectives (Dr. Stephanie Kelton specifically): http://neweconomicperspectives.org/...
And the main page of ‘New Economic Perspectives’ with William K. Black as an author: http://neweconomicperspectives.org/
L Randall Wray blog Economonitor (with a listing of many of L Randall Wray writings – from the past up to current editions): http://www.economonitor.com/... Really excellent stuff
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I really learned a lot and enjoyed this presentation by Stephanie Kelton very much and hope you do too - Thx for stopping by :)
P.S. The title of this Diary and my opinions expressed within are mine alone. It's my take on it not Stephanie Kelton's.
*taxes: progressive vs "broadening the base"
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- time to turn in - be back later today..