Yeah there are people in modern monitory theory who agree completely, saying deficits don’t exist if you can print more money at the money factory. To a certain extent I agree, but it requires currency supremacy. Thanks to Ukraine sanctions and swift shutoffs however the world is de-dollarizing which will weaken the US’s ability to always just print more and demand foreign debt be held in dollars.
Yup, things are changing pretty quickly. The US’s ability to expropriate through neocolonialism is slipping as well, and our capitalist class still has little interest/incentive to rebuild the indigenous industrial capacity that they offshored decades ago.
Hey hotshot prof, read Greenspan’s lips: The United States can pay any debt it has because we can always print money to do that.
Yeah there are people in modern monitory theory who agree completely, saying deficits don’t exist if you can print more money at the money factory. To a certain extent I agree, but it requires currency supremacy. Thanks to Ukraine sanctions and swift shutoffs however the world is de-dollarizing which will weaken the US’s ability to always just print more and demand foreign debt be held in dollars.
Yup, things are changing pretty quickly. The US’s ability to expropriate through neocolonialism is slipping as well, and our capitalist class still has little interest/incentive to rebuild the indigenous industrial capacity that they offshored decades ago.