Unthinking Majority wrote:#1 The only thing that gets to decide who is right is the evidence, for which your claim has very little, and is akin to fearmongering. Let's treat this like science as it should be, not speculation. Claims without adequate evidence should be rejected. At best your claim is one of a great many possible outcomes.
#2 This line of thinking is similar to your bold claims and predictions regarding MMT, also based on little evidence and a lot of faith. People making bold claims without evidence are dangerous because some might actually believe them. Enter: people not vaxxing their children due to fears of autism.
#1 --- Well, we can wait and see what happens in the future.
Predicting many/most future events is hard, and can't be proven in any case. It is the future after all.
Some can be predicted, like I will die before 2100, for example.
#2 --- Well, I have read none of the hundreds of peer reviewed papers by professional MMTers. I assume that you have not either. The evidence is there in those papers.
I think that you don't understand my claims about MMT. They are =>
a] We should try their Federal Job Guarantee Program that is locally administrated. It is to pay a "socially inclusive" wage, maybe $23/hr.
b] That the national debt can only be paid down/off with newly created dollars and it can never be paid down more than a tiny amount by having a Federal surplus. Therefore, we have to stop worrying about its size. There is no evidence that there is any limit to its size (note the rate of increase can be too fast, though).
c] That the US Gov. can have larger deficits and not cause inflation over 3%, if we had an ideal market. An ideal market here is one in which no corp has any monopoly pricing power.
d] My own idea is that the JGP wage be reduced and it be supplemented with a UBI. This UBI will be variable so that the national income can be changed without Congressional action, if or when inflation gets too high. Although, we need to not worry about inflation from supply shocks, as there is nothing to do about it that doesn't crush some group of citizens. [IMHO, if we need to crush any group , we should crush the very rich because they will do just fine no matter how much we 'crush' them.]
. . Many say that the Gov. should not be picking winners and losers, but forcing unemployment up to 10% is picking losers. So, IMHO it should not be the method used to control inflation. So, inflation from supply shocks is just the free market doing its thing to distribute the few things to those with the most money, and as such it isn't worth crushing 10% of the workers to fight it.
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