I am late to this by about a week. Stephanie Kelton's film, Finding the Money, is now out and free to watch on YouTube. I recommend watching it. There is nothing else to add:
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I saw it on youtube a few nights ago. Very good. The Chair of Biden’s economic advisors seemed as confused as the President.
I am loving this film. I intend to encourage others to watch it. Thank you
Alright, thank you very much for that info.
Just mailed the video to the usual political parties.
Maybe they understand a movie-length video better than my writing style. 🙂
🙂
Thanks Richard!
Prof just finished watching this film. Thank you for bringing it to our attention.
Wow! Sharing it widely.
MMT should stand for Modern Monetary Truth.
It’s more than a theory it’s the most truthful account; the best description that we currently have of how money actually works in a currency issuing country.
I also directly challenge anyone that repeats household analogy lies to me. That’s what we can all do.
Be a truth-teller not a liar.
I like that. Thank you
Great to watch a powerful, smiling woman tell it as it is! Easy to listen to and to digest. She makes people laugh.
There is an irony in her comment, “95% of the problem is the words we use to describe what is happening.”
One reason why I never use the words MMT. Because they are so (unfairly) tainted in the public mind.
So I simply start with a balance sheet, develop this into sector accounts, and bingo. People don’t have words they instinctively reject. Instead they have words like “balance”, which they like. Add a smile and you have them on your side.
I am getting a little bored with you coming here to tell me I am a failure because I am a white male.
I am a person.
You are seeking the hospitality of my site.
Please do not abuse it. I can no more help my gender than a person who is gay can help their sexuality. You are being abusive. I hear the need for more female voices, and I told you what to do about it. I would provide support if I can.
But enough of this, please.
My favourite explainer – and the one I share most – is actually yours Richard on the double entry behind MMT posted 21/6/22. Very difficult to argue against. I’m sure we all agree Kelton is very good but let’s not bring gender, race, sexual preference into this. I can see the headlines now “Woke MMT is very dangerous!”
Agreed, and thank you.
9m30 into this film, is comedy gold. Jared Bernstein, appointed by Biden as Chair of the Council of Economic Advisors says the Government definitely prints money, then gets asked why, in that case, does the Government borrow, and he just has no answer and no clue. Absolutely hilarious.
Agreed
One of the best uses of 95 minutes of my life! An excellent film that needs to be widely viewed. Informative and challenging. I really enjoyed the discomfort that Jared Bernstein experienced when asked some pretty basic questions. Also, as a lawyer, I thought Lua Yuille’s contribution was very “bang on the money”(sorry but the pun was unavoidable) when she looked at the US legal structure underpinning the economy. From an English lawyer’s perspective the same is true in this country. If you look at the legal structure underpinning the Bank of England and its relationship to the Government (as set out in the various statutes and in the current BoE Charter) it reinforces the MMT perspective. I suspect that is why orthodox economists do not like being asked about what money actually is and where it comes from. Rather like asking a witness an awkward question in cross-examination. Once again, thanks for drawing my attention to this film.
Thank you