HolgateCorner
Well-known member
Now then Scrotey, I don’t have to justify myself to you and I’m busy.
I‘m just ordering myself a money printing machine so that I can be a bit richer without actually working for it.
NHS pay rise 1%
- Thread starter Blf
- Start date
I‘m just ordering myself a money printing machine so that I can be a bit richer without actually working for it.
Scrote
Well-known member
...and you're too busy proving you haven't got a clue how fiat currency works.
Well done.
HolgateCorner
Well-known member
Thanks Scrotey Boy, I look forward to your future of limitless money.
HolgateCorner
Well-known member
Yes it’s a cut, almost a statement by the government after the winter the NHS staff have endured. They made the mistake of outshining Johnson.
Scrote
Well-known member
Limitless as long as inflation is managed, Hoggy.
You haven't managed to explain why that's not the case with a fiat currency yet.
Is that because you're incapable because it's just factually correct..?
HolgateCorner
Well-known member
Now then Scrotey Boy, hope you are feeling pleasant tonight, Rishi keeps telling me I will be paying for the pandemic for many years, how come when he can just get some more money from the bank?
Scrote
Well-known member
swordtrombonefish
Well-known member
HolgateCorner
Well-known member
Ok that’s a fair answer, I’m still not sure about the long term effects of this MMT which I believe is what you are talking about but I agree it will be an improvement on past methods if it does work.
FatCat
Well-known member
If it would work they would do it, they would have no reason not to. It’s not kidology - oh I need some more money I’ll just print some. Why didn’t anyone else think of that!
HolgateCorner
Well-known member
I’m bothered it would ultimately lead to an inefficient economy. If government money is just freely available what incentive is there to be cost effective? This then has a knock on effect into private industries where we are competing with foreign companies etc etc. Ultimately the country depends fully on limitless government money and becomes inefficient. I know it’s fashionable but it needs careful control.
Scrote
Well-known member
Where do you think the £Billions that have gone on dodgy crony contracts came from?
I don't remember getting a tax hike before the £22Bn Track & Trace money was made available. Maybe we need a window tax to pay for the next Tory fundraiser.
Ideology. They don't believe the plebs should benefit from a fair society. I'm surprised someone so erudite hasn't noticed?
FatCat
Well-known member
Scrote
Well-known member
What does a Zimbabwe banknote have to do with anything?
Are we expecting a sudden purge of white farmers across the UK and a 60% drop in production of life's necessities?
We'll have bigger problems than inflation if that happens (much like Zimbabwe did).
Read this and then when you spot the obvious flaw (as presumably there'll be one) can you point it out so us thickos can learn, please:
Richard Murphy on MMT & National Debt
LaPennaBianca
Well-known member
Showing your ignorance again.
They won't do it as they have an ideological incentive to keep wages low and to run down public services. Notice how it's only under the Tories the NHS is in crisis?
FatCat
Well-known member
You really would be a lot more tolerable if you weren’t so arrogant.
LaPennaBianca
Well-known member
After you built your glass house with the failed 'economics for dummies' gag, I don't think you should be throwing the arrogance stone.
But I suppose as usual it's one rule for fat cat and another for everyone else!
HolgateCorner
Well-known member
Thanks for posting this, it’s an interesting read.
I think one of the problems for me is that I have an instinct that you go to work and provide a product or a service to somebody and receive money for doing that.
If you earn enough you will pay income tax and that goes to central government for public spending.
The government then spends that money on the NHS, building roads, subsidising new forms of energy generation etc etc.
The public spending money comes from the efforts of people doing a day’s work and putting something tangible into the system and without going into fine detail what they get paid is generally a reflection of the value society places on what they do.
My understanding on a basic level is that MMT discards all that and says the government can supply, in theory, limitless money for public spending and provided inflation is controlled by taxation then we carry on.
This is a big change in how people see the economy working and it raises instinctive questions about the real value of money which will set all kinds of alarms going off for anybody with a private pension fund, investments, shares, savings, their own business etc in case the whole thing crashes and the paper value of everything becomes zero.
I do think people like yourself need to try to be more persuasive rather than adversarial in helping people like me to get my head around it (even when I’m misbehaving). I’m an open door, I hate the Tory austerity mantra and their manipulation of the electorate but the ‘balance the books’ approach has a simple equation which makes sense to normal people. This MMT is a big change which sounds too good to be true and it needs to be carefully sold.