Opinion, Jokes and Stories from KC
Stephanie Kelton's "The Deficit Myth" A ReviewThis is the third of the three reviews I promised, and when I made my promise, I said I hoped I was up to the task on this book. There's a lot in it I don't understand, but I've never let that stop me.
This is the third of the three reviews I promised, and when I made my promise, I said I hoped I was up to the task on this book. There's a lot in it I don't understand, but I've never let that stop me.
Only a complete moron would accept this books thesis. The reviewers comments reflect a fundamental lack of understanding about money and what happens when printing too much of it. It's hard to understand how anyone would take this seriously. I guess its wishful thinking run amok. Sooner than people realize, we will all get to see what happens when debt becomes unsustainable which it already is. The pain will be devastating. Just get the popcorn out and pay attention. Soon who's right will become evident.
And yet we've been practicing Modern Monetary Theory for decades when it comes to bailing out banks, Wall Street, and conducting senseless wars. Weird.
Why couldn't the fed just print out a bunch of new bills and hand them out? A lot of problems solved.
Another term for MMT is kicking the can down the road. As Lord Maynard Keynes said, “In the long run, we are all dead.” The MMT proponents believe that there will never be a reckoning. Meanwhile, the price of gold is skyrocketing. Weird.
10:51: They can and do--to the "right" people, but it's all digital.
In answer to 9:51, Things go on...until they can't. Weimar German republic is the best example. even serious (there are a handful) of Democrat economists and experts warn about the debt bomb and the coming Medicare and Social Security crisis. And 9:51...ever hear about inflation? I'm betting your too young to remember the 70's. Weird.
^^^You'd lose that bet, and I'm old enough to know when to use "your" and when to use "you're."
DST Systems Inc invested its 30% of its 401k plan in Valient Pharma and its stock went from $225 to $15. They might be the company she refers to in her boyfriends 401k plan
Well DST Systems was an ignorant company. Had they hired NYC or London or Paris top executives they could have been a world superpower in the financial industry. But they stuck with blind local residents that attended Rockhurst College when it cost $990. per year to attend. Never looked beyond the Kansas City area except once, and that executive sadly died of a heart attack. So it was stuck with local male bimbos who were totally blind to the trend of sub-accounting and lost out to the competitors that saw sub-acct on the horizon. HOW BLIND. Plus all the DST execs did was think of phony reasons why people should not be better paid or promoted. Now DST Systems doesnt exist anymore. They were in the fund management biz, but allowed 30% of all 401k funds to be in just one tech stock? A high school kid knows better than that! Goodbye DST, you will be the laughing stock becasue of your blind executives!
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