Top 10 Things Stephanie Kelton Wants You to Know About the Economy

She’s absolutely right if you trust everyone in government to act in the peoples interest 100% of the time while having 0 accountability for irresponsible any spending habits…what could go wrong? Inflation benefits the people with money to invest.

One of the most important points in her thesis is the line item in the Federal budget dealing with "interest expenditures". It is simply a subsidy for bond holders and is of zero benefit to anyone else.

Excellent insights! I resonate with your views completely! I am surprized why most economists haven't thought of these perspectives in so many decades?!!

"The Government is not like a household. A government is like a bank. And a government running a balanced budget is like a bank that simply lends back as much as it gets in repayments, therefore the money supply never grows and without that, you don't have a growing economy. It's one of two ways to create money, and if you don't let government create money by spending more than they take back in taxation (fiscal policy), you have to rely on the private banking system to create the money in the form of credit (monetary policy) and you therefore get private debt bubbles." ~ Prof. Steve Keen

I love this woman. Her lectures should be required in every high school in America.

Excellent!!

How is this any different from Keynes?

There are many changes in law that are needed to create a more honest system of money creation. At the top of my list are the following: (a) End the power of the Federal Reserve System to issue Federal Reserve Notes as the nations' legal lender, shifting this power to the U.S. Treasury; (b) Amend that portion of the banking laws that allows banks to create new money by making loans. Banks lending should be limited to the cash the bank takes in as customer deposits, cash borrowed from others, or cash obtained by the sale of shares of stock or other assets; and (c) Encourage each state to establish a public bank modeled after the Bank of North Dakota.

Anyone (a person, a company, a government) can issue as much as they want of whatever IOU (bond or currency) it's just a matter of finding someone else willing to accept what you're issuing it's a big game of trust. Once Trust is lost, you can't force it back by printing some out of the blue.

Check your "money mechanics." The Federal Government does not issue currency. Banks, by the authority of the federal government, issue currency. But, either way it's legalized counterfeiting. It transfers resources from one individual to another.

@CheeseInc. should teach you a few things about the economy and how money works.

A great talk and, broadly speaking, correct, particularly in 'exorbitant privilege' America's case, but it should also be pointed out that all currencies can be (and historically have been) effectively devalued by the expedience of their venal issuers without the sufficiently productive, vibrant, rigorously taxable economic activity that ultimately serves to underwrite their value.

You never give me your money. You only give me your funny paper.

Sem legendas fica difícil

A good talk. Well the dollar can loose it's value. That's a risk too.

Stephanie speaks about the U S A Presumably the same go`s for all Countries .so all Countries can print as much money as they like or does MMT only relate to the U S A .

Does any country other than USA can be able to remove taxes and do government spending with paper money printing as much as she can???

If taxes don't fund the National Government, Why are we paying taxes? The Government will not run out of money? If our country is worth $1000 The Government can print $1000 in money. If they print $2000 then the dollar has only 50 of its previous dollar thereby devaluing the dollar and making us less able to buy things made outside the U.S.

The road to serfdom.

Minimum wage act enforced correctly locally is relief for inflation and creates transitory inflation if established. The minimum wage linked to local housing cost and cost of living as written not a transient wage. This has not been required by business.