My phone missed the word NOT.
We do not agree because you are flat out incorrect
ExtantHuman
joined 4 months ago
You've made it obvious you're the one who doesn't understand ANY of this.
MMT relies upon taking in debt.
People have to have trust in the entity taking on the debt to give it the loan. Doing insane shit that causes the global trade to abandon the USD as the reserve currency means waaaaay less entities are willing to loan that money.
Which means interest needs to be higher.
Which also increases inflation more rapidly.
Which breaks the entire concept behind MMT being a useful tool.
It would NOT have been a byproduct, and I explained why already.
"Nuh uh" is not a rebuttal.
He certainly moved fast and broke our economy. That's not a good thing. Pretending it is shows your nativity.
You're acting like "the basis of the concept of a tariff" matters when the tool is used poorly.
Also, the long term effects of this implementation would not have been beneficial, it would only shrink US trade as it makes itself both irrelevant and an irrational unpredictable partner.
You really sound like you have the most surface level understanding of what is happening. MMT doesn't work when you remove your status as the reserve currency by doing this shit.
I've acknowledged like the ~two times he had a good idea. This is not one of them, and wouldn't accomplish what the OC wants to see accomplished.
It's a bad idea all around. On top of being illegally executed.
Modern monetary policy falls apart when the globe decides to just ignore the US because it's isolated itself from global trade through idiotic policy.
No serious economists are claiming this implementation as anything other than absolutely insane.
Except his tariffs weren't doing anything to change that dynamic.
So, in fact, you do not agree with him in tariffs.
If you want to bring back manufacturing to the US, you didn't start off your tariff war by increasing the price of every single raw material we need to build those factories and their products. Which is what he did. He had imposed tariffs on steel, wood, aluminum, etc even before his "liberation day" tariff the planet stunt.
Yeah, several board game companies straight up closed. Trump killed small businesses. Trump killed family owned farms. Trump killed people with his covid shit policies.
They're also leverage for bribes.
I'm sure some precedent was set during a mutiny trial in the Roanoke colony or something...
Technically, they now get their healthcare off the ACA exchange. This change occurred in 2008