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Cullen Roche is an entrepreneur and a conservative. There's no chance he's the socialist you make him out to be. You might do yourself a favor by being a little more open minded about MMT. It's not what you claim it is.
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Cullen Roche soundly refuted that article a long time ago. Mercenary Trader doesn't even come close to understanding MMT. http://pragcap.com/discussion-forum?mingleforumaction=viewtopic&t=42
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The ideas have been presented by Mosler and Roche in detail. You clearly can't seem to grasp them. It is not my duty to explain MMT to people who can't understand it. Roche's explanation is s easy that it is being used in college courses as explanation.
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Your entire argument is based around the idea that the government collects money to use it for something. You're referring to the government sector like it's exactly like a household. This is an egregious misunderstanding of MMT. You have not even displayed an ability to get beyond the very most basic concepts. Lord help you when we get into
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As an expert on MMT I can assure you that Dave has no idea what he is talking about. He should be ignored as a reliable source.
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Dave doesn't even begin to understand MMT. If you can't grasp it then please stop trying to critique it. You clearly have no idea what you're talking about.
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There is no such thing as critiquing or refuting MMT since it is only a description of the way the monetary system actually works. You can't refute it because to do so is to admit that you don't understand how the monetary system actually works. The only theory is in its application and unfortunately a handful of Keynesians dominate the MMT
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I won't refute this entirely because it is HIGHLY flawed and the author clearly lacks an understanding of MMT. To begin with MMTers are technically Minskians based on Abba Lerner's beliefs. As for the nonsense above, with regards to #3 - the bond market exists solely as a monetary tool that drains exess reserves and helps the Fed hits its overnight