I drive a minivan, and am interested in learning/sharing about #MMT. Not because economics is fun, but because the world is f***ed and we CAN do better.
May 21, 2018 • 4 tweets • 1 min read
When China gets US$ (which they get via trade) they can do with them as they please. They can get it in cash and roll around in it on their beds, exchange it for another currency, leave it in their reserve account at the fed (checking), or purchase US Treasury bonds (savings) 1/4
Anyone w/ US$ has the same choices, and many choose buying US Treasury bonds because they are risk-free financial assets. They are risk-free b/c the US govt can make ANY payment that comes due in US$. They also add to the national "debt" which people are afraid of. But why? 2/4
May 2, 2018 • 6 tweets • 3 min read
The #JobGuarantee is more than a price stabilizing tool, or a "buffer stock of labor" to keep ready for private sector employers. It IS those things, but more importantly it's a life changing policy that will eliminate involuntary unemployment. And for me it's personal.. 1/
My son Jared turns 7 in a few weeks. He was 3 when he was diagnosed with autism. The official diagnosis wasn't a surprise to me, it was almost like diagnosing my daughter with curly hair. We knew. I WAS surprised however when I heard of the unemployment #'s for autistic adults 2/
