The Good Dream is Factual MMT Warren Mosler

YouTube has the video The Good Dream is Factual MMT Warren Mosler.

First International Conference on Modern Monetary Theory 2017

An excellent address by Warren Mosler

This is one fabulous video. Warren Mosler always can simplify concepts so that they are hard to argue against. The only problem is that most people will have a little voice in their heads telling them that what Mosler says can’t possibly be true. Every reason people can come up with about why it can’t be true is easily shot down. Yes, but what about this, or what about that? Mosler has an answer for all of these things.

I like to use the Mark Twain quote – “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” People just know for sure that what Mosler says just cannot be true.

Here is a transcript of one quote in particular that is worth my remembering.

The government needs you to need their money. 33:45 “I don’t like to say taxes don’t fund spending because the word fund is ambiguous and even though you are right you can be dead right. It’s better to say the government doesn’t need your money to be able to spend. Not that it doesn’t fund it, it’s they don’t need it to be able to spend, but they need you not to have it. … You have to create a shortage to be able to spend. Taxes are more powerful than spending. A tax of $1 allows the government to spend maybe $1.25.”

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