If you find mainstream economics hopelessly convoluted, confusing, huge and intimidating, you can still understand US Economics through MMT. Suddenly you’re not trying to understand how the US can owe itself money, you’re seeing conclusively why it can’t. Suddenly you’re not trying to fathom how money spent by Congress winds up being money we owe to China, you’re simply seeing conclusively why that’s impossible.
MMT is not “advanced economics’, it’s realistic economics, which is actually much simpler.
Don’t let the mental block that most of us share get in your way, and prevent you from gaining a real understanding of the life cycle of the US dollar. Mainstream US Economics is confusing on purpose: it takes a lot of mystifying details to hide the simple truth with a lie.
The lie is that we have to “find the money”. We don’t find the money, we CREATE the money. That’s not ‘your’ money or ‘my’ money being spent by Congress, that’s society’s money. We do not have to borrow this money from anyone else. That money belongs to all Americans, as empowered by the US Constitution. If foreign nations want to sell us their materials, then some of that money belongs to them as well, but nothing further is owed. It’s a done deal.
See how simple this is? But mainstream economics will have you chasing red herrings on a snipe hunt to find the reason why we have to fund spending with tax dollars, or ‘balance the budget’. The Federal government is not constrained by the same limits that we are as households, so comparing their budgeting to ours creates an artificial kind of simplicity, which doesn’t hold up under the slightest bit of scrutiny. Avoid this thinking if you want to have a positive impact on the world!
It will waste your time, and we don’t have a whole lot of that.
#LearnMMT to save some time, and save the planet!