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[Politics] Liz Truss **RESIGNS 20/10/2022**



Baldseagull

Well-known member
Jan 26, 2012
11,378
Crawley
It's not a case of trying to change the rules it's simply that the description doesn't fit. MMT came about as a descriptor of the US system, its subsequently been found to apply in other countries with similar characteristics like Canada, UK and Japan. One of the reasons that these countries can always create money to pay debt liabilities is because all their debt is denominated in their own currency. Thats not the case in Argentina and thats why the model doesn't fit.

MMT doesn't say anything about what we should do now! I think an understanding of MMT changes the narrative and makes different policy choices possible. It doesn't however answer political questions or prescribe policy. It just explains how money works.

It's a fallacy.
 








BenGarfield

Active member
Feb 22, 2019
317
crawley
Why as it’s completely relevant. If you think Truss and Starners and indeed Corbyn cow-towing towards neo-liberal economic models and policies is right then defend it with the force of your argument
 


beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,622
It's not a case of trying to change the rules it's simply that the description doesn't fit. MMT came about as a descriptor of the US system, its subsequently been found to apply in other countries with similar characteristics like Canada, UK and Japan. One of the reasons that these countries can always create money to pay debt liabilities is because all their debt is denominated in their own currency. Thats not the case in Argentina and thats why the model doesn't fit.

MMT doesn't say anything about what we should do now! I think an understanding of MMT changes the narrative and makes different policy choices possible. It doesn't however answer political questions or prescribe policy. It just explains how money works.

so, once in Argentina money existed because of MMT. then after they messed up with inflation, poor policy, leading to a poor currency, they ceased to have MMT money. now they have some other type of money. presumably the same with eurozone nations. MMT explains how money works unless it's a different sort, when it doesn't.

we've not learnt much here, except BenGarfield runs away from the debate he started.
 




BenGarfield

Active member
Feb 22, 2019
317
crawley
It's not a case of trying to change the rules it's simply that the description doesn't fit. MMT came about as a descriptor of the US system, its subsequently been found to apply in other countries with similar characteristics like Canada, UK and Japan. One of the reasons that these countries can always create money to pay debt liabilities is because all their debt is denominated in their own currency. Thats not the case in Argentina and thats why the model doesn't fit.

MMT doesn't say anything about what we should do now! I think an understanding of MMT changes the narrative and makes different policy choices possible. It doesn't however answer political questions or prescribe policy. It just explains how money works.

so, once in Argentina money existed because of MMT. then after they messed up with inflation, poor policy, leading to a poor currency, they ceased to have MMT money. now they have some other type of money. presumably the same with eurozone nations. MMT explains how money works unless it's a different sort, when it doesn't.

we've not learnt much here, except BenGarfield runs away from the debate he started.

I haven’t run away don’t know what you’re on about. I suggest you read Warren Moslers summary of MMT as suggested by half time pies and for more detail of the specifics in the UK the excellent link I gave earlier
 


WATFORD zero

Well-known member
NSC Patron
Jul 10, 2003
26,721
And as Britain sinks into an economic abyss (which as far as I can make out, nobody is denying)

Enjoy your intellectual ************

PS. The point is way over there somewhere :wink:

*edit*
It appears that master****** and w***ing are both banned together with any links using those terms :lolol:
 
Last edited:














JackB247

Well-known member
Sep 25, 2013
1,451
Burgess Hill
The reports coming from tonight's 1922 Committee sound particularly grim for her. Gove and Schapps will be on manoeuvres in the next few days I reckon....
 


A1X

Well-known member
NSC Patron
Sep 1, 2017
19,172
Deepest, darkest Sussex
Is she still in charge?
Apparently after PMQs went to the tea room. Usually a sign of a leader haemorrhaging support and trying to shore up her backbench support.
 








Paulie Gualtieri

Bada Bing
NSC Patron
May 8, 2018
9,804
See the repeated message on interest rates is to speak to the BOE Governor, disregarding any notion that the BOE has to respond to government policy and performance.

Is this any suggestion that this is a long play to remove the BOE independence?
 


A1X

Well-known member
NSC Patron
Sep 1, 2017
19,172
Deepest, darkest Sussex
 










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