Mish, you’re missing the underlying problem which is how is money created in the first place and what is the enforcing MONOPOLY conceptual/paradigmatic reality in that creation (Debt Only) that broken up would benefit ALL economic agents and resolve myriad problems economic and otherwise.

Answer: The new paradigm of Strategic Monetary Gifting.

And no this would not be socialism, but rather the rejuvenation of profit-making economic systems that would enable the libertarian goals of beneficial deflation, huge tax cuts and the safe progression of AI. Historically new paradigms have always destroyed old orthodoxies and created new beneficial realities. Please don’t scoff, look at the realities that the most temporal universe reality anchoring discipline humanity has ever invented, double entry bookkeeping, could do for every economic agent.

If the Roman Catholic church did not have the right to wield their monopoly paradigm of Salvation Via Roman Catholic Sacraments ONLY, then private banking does not have the right to wield their present monopoly paradigm for the creation and distribution of virtually all new money…either. To justify such would be libertarian free market heresy.

Yes, yes, yes you’re correct that the republicans are on the wrong side of this crisis. So why not resolve the deepest reason why we keep hitting our heads against the same wall over the budget. in other words you guessed it THE MONOPOLISTIC MONETARY PARADIGM FOR THE CREATION AND DISTRIBUTION OF ALL NEW MONEY WHICH IS THE CONCEPT OF DEBT ONLY!!!!!!!!!!!!!!!!!!!!!!

MMT is all well and good especially when it advocates for a job guarantee. Why? BECAUSE A JOB GUARANTEE IS A MONETARY GIFT! Just follow through with that concept and the very good MMT insight that all new money is created with equal debits and credits that sum to zero AKA double entry bookkeeping with a 50% Discount/Rebate policy at the point of retail sale and voila! with that gift that saved everyone half the costs of participating in the economy you just implemented a paradigm change of equivalent progress of discovering self awareness hence ethics, the control of fire, The Reformation and The Enlightenment all wrapped up in a single policy! (And of course the remaining policies of the new APPLIED paradigm concept of Strategic Monetary Gifting stabilize and protect the implementation of this mega paradigm change).

Paradigms are concepts, that is, physical/temporal universe APPLIED concepts, and so they in and of themselves are integrations of the opposites of mental and physical/temporal universe realities.

Power can change things, but only the power of the natural philosophical concept of grace self actualized and implemented in the temporal universe can change them permanently.

Steve Hummel 10/13/2025

Congratulations, you’ve edged toward more permanent macro-economic solutions that approximate the ones I’ve been suggesting here for years.

The deepest problem in economics (and probably numerous other human systems as well) is the fact that the mindset regarding them sets up false dualisms that will not resolve and yet is paraded as “freedom” but is actually a chaotic and hence unstable framework that enables an oligarchic power to dominate that system and all other agents in it.

This characterizes “free” market theoretics perfectly where libertarian/austrian economists advocate for free markets (read TOTAL freedom) which religiously fetishizes the entire framework and prevents what is necessary to create actual human freedom which is the rational consideration of morals/dualisms/problems to the point of a trinitarian/integrative thirdness greater oneness also known as the superlative human intellectual discipline of Wisdom.

Now you can also fetishize Wisdom into “Wisdom” if you set up a dualism that will not resolve because your “Wisdom” is TOTALLY the right one instead of the one that best enables/creates integrative thirdness greater oneness which again is the mindset and intellectual process of Wisdom ITSELF…not just another dualism that people can egoistically argue over forever.

If we identify and apply the concept behind every historical unitary thirdness greater oneness of the opposites in a dualism it could powerfully and graciouslly enable solutions, progress and actual Wisdom.

Wrong! Its APPLIED philosophy…because that is what paradigms present and new actually are.

“The US$ is a simple public monopoly, already!” Its a potential public monopoly. The private banking system wields the active systemic monopoly to create virtually all new money…and the central bank, instead of utilizing that power instead bails the banks out when they screw up the system instead of democratizing the money system. But wait! This still isn’t the core of the core problem…which is the monopolistic monetary paradigm concept itself AKA Debt ONLY. Integrate the new paradigm of Strategic Monetary Gifting specifically at retail sale with a policy of a 50% Discount/Rebate and other policies to stop the banks and enterprise from gaming the new paradigm…and you mathematically double everyone’s purchasing power, integrate the normally opposed self interests of business and the consumer and transform chronic erosive inflation into beneficial price and asset deflation. The heads of the orthodox explode!

Its all about the new monetary paradigm because the ideas/paradigms behind our systems create and enforce their deepest realities. Starting Analyzing there is the essential and most efficacious place to start.

MMT is absolutely correct in its systemic analysis, but Mosler and all of the other leading economic analysts like Steve Keen and Michael Hudson ONLY analyze on the conceptual/paradigmatic level instead of the deeper conceptual/paradigmatic level. Sadly, that relegates their economic reforms to mere epicycles.

If we would cut the balls off of the head of the oligarchy, namely Finance and its monopolistic monetary paradigm for the creation and distribution of all new money AKA Debt Only by strategically integrating the new paradigm of Monetary Gifting into the Debt Only system, then we’d undoubtedly be securely on the road toward establishing humanity’s first universally empowered and so legitimate democracy.

Steve Hummel 10/08/2025

If they don’t attend they will lose their 50% Discount and half of their $1000/mo. dividend.

Guaranteeing total monetary and economic freedom is not what the new paradigm does or is all about because it would end duality. Rather its about monetary and economic security which enables everyone to take a deep breath and frees them to more positively and effectively deal with the inevitable dualities of life.

GGG’s are highly recommended for everyone of course.

“The fundamental problem being that orthodox economics only thinks of inflation being caused by too much money. “

Precisely. And that orthodoxy exposes the fact that “free” market theoretics isn’t free at all. Why? Because in the human universe there is no such thing as TOTAL freedom, only freedom within known and enforceable barriers. Why? Because there’s this little thing called ethics. Its why you can’t walk into a theater and yell “FIRE!” Libertarians believe in TOTAL freedom and most other economic theorists (and even Steve Keen and Michael Hudson) have not cognited on this flawed theoretical framework let alone found a way to remedy the flaw.

“Free” market theory has no actual barriers to inflation and so is actually the absence of barriers AKA the unstable state of chaos. Put that together with the present monetary paradigm concept ENFORCED for the creation and distribution of all new money which is Debt Only and is it any surprise that Finance rules…and is the only business model to survive almost unscathed…from crises they originate?
The solution? The new monetary paradigm of Strategic Monetary Gifting implemented by a 50% Discount/Rebate policy at retail sale…and the rest of the freeing policy program that actually increases agent freedom and economic abundance by establishing known and enforcable barriers…within which freedom can actually be established.