T: Consider that monetary sovereignty won’t make it to home base because it’s too good to be true. How many jobs would be eliminated that are strictly money making jobs? Where would all those people go; what would they do? And the migrants at the southern borders? What about all those lawmakers who love the noteriety, attention, power and influence while tending to our problems? All those big, tall, empty buildings: No need for insurance and all those 9 to 5 office people? All the police with too much time and little crime on their hands just driving around and around eating donuts? No more of the usual nightly bad news? Just think when it suddenly becomes obvious monetary sovereignty means freedom from Bullshit! How can we function if money is no longer Bullshit?
Me: Everything adapts to a new paradigm…not the other way around. Historically that has always been true. I take that you’re being ironic, but as for all the jobs lost, the more abundant money spread generally will not only create plenty of new and different jobs, but also a lot more investment. My response to conservatives when they raise such objections is: “Hey, creative destruction and all of that…and what’s good for the goose is good for the gander.”
BG: “Unfortunately, the pandemic induced inflation certainly hasn’t helped MS/MMT arguments in the broader populace. This oversimplification of the issue has really hampered any ability to have any rational discussion, bi-partisan or otherwise, regarding Social Security and FICA taxes.”
Me: True. That’s why we require a 50% Discount/Rebate policy at retail sale (along with others) that will forever banish inflation to the dust bin of history by of all things implementing macro-economic BENEFICIAL price and asset DEFLATION. What a mind blowing and orthodoxy destroying thing that would be. The present monopolistic monetary paradigm of Debt Only as the sole form and vehicle for the creation of new money is the core of the core problem. Change it and you change the entire pattern of economics because money/finance is such an integral and ubiquitous part of the economy.