Fiscal rules are works of fiction designed to constrain government activity to appease neoliberal interests within the financial services sector, and are part of the politics of destruction deliberately engineered to create the economics of failure that we are now witnessing all around us.
MMT has a fiscal rule. Print and spend until inflation, then raise taxes – or, aha, aha reduce spending – to eliminate the inflation. That’s a fiscal rule.
So why does the MMT advocate insist that fiscal rules are a work of fiction?
Because he’s dim.
Because everything he writes is a flimsy excuse for stealing money other people have earned or saved?
“So why does the MMT advocate insist that fiscal rules are a work of fiction?”
Because it’s a Saturday?
“So why does the MMT advocate insist that fiscal rules are a work of fiction?”
Because they have no intention of abiding by any rules once given the chance.
Oh, there’s one rule. They Always Know Best.
Jim’s right. Even MMT’s advocates don’t believe politicians will actually follow the rules once the printing presses start whirring.
Whether or not MMT was ever a legitimate theory, like Keynesianism it’s become just an excuse for politicians to spend more.
Spud’s ‘evidence’ for his conspiracy theory that the neoliberal “politics of destruction deliberately engineered to create the economics of failure” is what “we are now witnessing all around us”. In other words, his ‘evidence’ is his interpretation of what he selectively sees. He is assuming what he wants to establish; but the evidence for his interpretation – particularly for intention (“deliberately engineered”) – cannot be his interpretation itself!
Interestingly, some on here proceed in an exactly similar way as Spud does. They claim that there is a Great Replacement, a Great Re-set, or a covid conspiracy, and their ‘evidence’ for the hypothetical intention is their interpretations of what they selectively see. So, like Spud, they assume what they want to establish…and reject alternative interpretations.
And just like some on here, Spud seeks to re-define what conspiracies are. Indeed, Spud writes today: Conspiracies exist. But they are not secret meetings in dark rooms.They are systems of coordinated power operating in plain sight.
If your ‘reasoning’ follows the same form as Spud’s, then….
How do you “selectively” look at the total statistics of the 2021 census?
Any data can be viewed and interpreted selectively. (Spud does it all the time.) And the 2021 census contains no evidence of intention to replace the existing population…
Why would the census show any “intention to replace the existing population”, it’s just counting who is here.
You simply need to open your eyes to see the great replacement is a fact, whether or not it is a “conspiracy theory”, look at the actions and listen to the words of people like Bill Gates surrounding Covid and population reduction.
They are open in telling everybody what they are doing, you simply won’t see it.
Why would the census show any “intention to replace the existing population”, it’s just counting who is here.
Quite so. But jgh seems to think it does. Yet, obviously, the census is not evidence for a Great Replacement conspiracy!
And yes, a great replacement is occurring. As there’s no evidence it’s a conspiracy, the explanation is more likely incompetence, negligence, fashionable anti-racism, foolish economic policies, etc, etc…
A Great Replacement conspiracy would require a conspiracy amongst several million third world riff-raff to do the replacing. Where are they meeting to conspire? Someone’s bedsit?
Politicos agreeing to open the borders is the conspiracy.
TikTok.
Eh? Showing them the life they might have, arranging dinghies or other forms of transport such as the Royal Navy or the RNLI, giving them free money and housing and having judges and politicians declare that their rights to housing supervene those of the native born population, while arresting those local borns by the thousand for wrongspeak on social media, requires planning by the third world riff-raff?
Oh dear…Three down votes = at least three people with room-temperature [Fahrenheit] IQs.
So the fact we have hard evidence of you in probably hundreds of posts consistently overstating the Russian threat, advocating military escalation without the means to fund it while minimising the clear and present danger from Islamic extremism is simply us ‘interpreting this’ à la Murphy? Time to change the record. Langley or Thames House can give you a fresh script and I’d encourage you to avail yourself of it.
I don’t understand why greedy capitalist pig dogs who want to be stinking rich would deliberately engineer an economics of failure. If they did they wouldn’t get very far and would soon be bust and replaced by other greedy capitalist pig dogs who want to get even richer and would try something different until it worked.
I guess as a lefty he thinks everyone else keeps doing the something over and over in the insane belief that “this time it will be different”.
I believe that the Millennium Development Goal for poverty was achieved in about half the time projected. Inasmuch as this is the most economic of all the goals, I suggest that the world needs more failures like this.