Evergreen Economic Plan

[El_Machinae]

If the US is paying 8% more of its GDP for healthcare than Canada is, then even a 50% efficiency would free up 4% of GDP for the green deal, and would effectively mobilize the country in protecting the future.

Some people are okay with mobilization when it comes to preventing an external threat such as Nazi . But they don't use the same mindset when it's "consumption-caused extinction". The eroding of natural resources is the same as having them seized, from the viewpoint of those losing the resources.

The point is that it's 'obviously' affordable. All it would require is retasking of people from one useless activity (whatever that 8% of GDP represents that currently barely benefits everyone) to a useful activity.

Given that the 8% is a net loss, other than the benefits of employment and consumption, nearly any retasking will provide a net benefit.

 

[Socrates99]

They basically create money out of thin air and people go along with it because they have to.

Create to much though you get hyperinflation. The US government is already spending billions paying off what they have already borrowed. Can't remember how much.

And how is a new green economy going to work? Say they subsidise solar panels for everyone in America. Eventually you run out of places to install them.

They are selling snake oil. Sure spend money and clean things up, that cleans up the country. But how is a green new deal magically going to fix the country vs a more Keynesian wealth redistribution via increased health spending, more welfare etc things like that.

It's just left wing populism promise a heap of things you can't deliver on and probably blame the right when it doesn't work.

Turning the USA into more of a social democracy sure that's doable but free medical care, tertiary, green new deal, and take care of the poor you might be able to do one of those things but idiots think they can do all of it. Even Obama more or less warned to tone expectations down.

It's Left wing Trumpism.

Look up modern monetary theory and really research it. Even just watch one decent video on it. Stephanie Kelton explains it pretty well. Mark Blythe is also pretty entertaining. Itll help you understand what these guys are talking about.

In short you're looking at government budgets like a household budget with a finite income and any interest on debt has to come from future finite income. That's absolutely not how it works, especially not for the country that hold the world's reserve currency. The way you look at budgets ended when Nixon ended the gold standard.

 

[rah]

Heaven help us the day it ceases to be the world's reserve currency.

 

[Lexicus]

Heaven help us the day it ceases to be the world's reserve currency.

Ironically, people who oppose MMT are hastening this

 

[rah]

hopefully i'll be dead before china takes over. I'd hate to think all my retirement savings would just go poof.

 

[Lexicus]

hopefully i'll be dead before china takes over. I'd hate to think all my retirement savings would just go poof.

You don't need to think that because it has nothing to do with the dollar no longer being the world reserve currency.

But hey, people not believing in MMT make the ruination of your retirement savings more likely too.

 

[El_Machinae]

Heaven help us the day it ceases to be the world's reserve currency.

Yes, there is a lot of wealth created for Americans because of the outside demand for their dollar. But keep in mind, the underlying theory works with any Sovereign currency. It just changes the total amount that you can buy, but that is true of what is possible from any economy