Hooray for MMT!

"Well, I do have a graduate degree in finance"

"DEBT Ceiling is about money we've BORROWED and subsequently spent. Right?"

It's true, I should not have been so stupid as to think that you might look into the empirical claims I made! So let me try to rectify my stupidity, though I have a feeling that if you're the one determining intelligence, perhaps I should try to remain as stupid as possible.

I would, and for empirical observations I would point to Japan and Iceland. Especially Japan.

I was hoping her next sentence would be, "Not raising the debt ceiling means I will instruct the Treasury to directly purchase government securities in order to stabilize the currency," but then c'mon now.

Someday "Why don't you get a different job?" will be replaced with "Why don't we respect the dignity of all jobs?"

Thank you for playing Internet Economist!

Fed debt: 14 Trillion

This is unfortunately the only feasible thing to do. I say unfortunately because we seem to forget that we, the public, own the airwaves, and we lease them to private companies on "our" (I mean, I know people don't ask us, only Mark Warner) airwaves.

@JoeJoeBrown: Is it possible that there has been an absolute and per capita lack of wheat this year? And that the US Federal Reserve has incredibly little to do with commodity prices abroad? And that core inflation is minimal?

Reminds me of an old Wobbly tune: "Hearts can starve as well as bodies - give us bread, but give us roses!"

@nova3930: It's true that I'm having a hard time figuring out what has anything to do with your discussion here.

@ttk2: But boy you should see the private debt! at 3 times the amount of public debt, it's almost like you're fixating on the wrong debt!

@nova3930: I didn't realize the armed forces were evidence of a freeloading attitude by taxpayers. You should probably get on about dismantling that then.

@screemname: Yes it did - from the very beginning, the United States has been debt-financed.

@andyengle: And what is the entity ensuring the very existence of private enterprise? Ah yes, it is the State.

@GamingTheory: I heartily recommend all socialist literature; 1984 is a shining example.

A far safer idea than the CAMUS automated driving system, which, after a life full of ennui, drives you into a tree.