YouTube has a video The Economy: Does More Government Help or Hurt – Stephanie Kelton only.
I am so glad that Bernie Sanders has seen fit to appoint Stephanie Kelton as Chief Democratic Economist on the Senate Budget Committee. I am just waiting for more of her ideas to come out in the national conversation, and even in the Presidential campaign.
Here is a video where she presents some of her ideas. It starts with a whole bunch of ideas that she is going to knock down in the second half of the presentation. Don’t look at just the first part and think you know what she advocates.
Be sure to look for the mention of $29 Trillion.
Has anyone asked about the government paying back the $29 Trillion the government created to buy the “troubled” assets from the banks? To whom would they pay it back? The banks don’t owe it because they sold “assets” to the government to get the money. The government doesn’t owe it, because they didn’t borrow it from anyone.
The government isn’t going to get all the money back, because most of the “troubled” “assets” aren’t worth the paper they were printed on. That’s why the banks needed to be rescued.
Imagine applying this sort of logic of creating money to buy things such as rebuilding our infrastructure or paying the tuition for higher education. In this case the government would “get it’s money back” because what they were paying for is actually worth what they are paying for it, and then some. It’s called return on investment which you would think capitalists would understand. So why do we need Socialists to explain this to the Capitalists?
Here is the announcement UMKC’s Stephanie Kelton is named chief Democratic economist on the Senate Budget Committee.