It's the dunk tank.
This is where you come to post big-brained hot takes by chuds, libs, or even fellow leftists, and tear them to itty-bitty pieces with precision dunkstrikes.
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Dude’s an ultra
Bonus: https://nitter.net/uncle_authority/status/1721967810241335347#m
I guess the Deprogram guys are the Three Stooges now? But the joke doesn’t really work
Just dropping in to say, I don't really know what the fuck anyone is talking about here. Some kinda egghead graph brain nerd talk.
this is such an annoying thread, every comment is like:
[person not knowing what MMT even is and being wrong]
[someone correcting them with a long effort post]
[the original person seemingly not even having read the reply, repeating the exact same thing they said previously]
its extremely cool that the grade school level "what even is money really?" level of questioning still bamboozles people who have made it through capital.
You think socialism works? Actually, according to Marx you would eventually just run out of gold ingots. :no-choice:
Never thought I’d see self-proclaimed Marxists regurgitating Chicago school neoclassical myth.
Then again, maybe not that surprising after all.
as far as I see I'm the only one who's actually quoted marx on this therefore I win automatically 
I used to think he has good takes until I saw him railing against Modern Monetary Theory (MMT), on Twitter (funnily enough, it is also somehow brought up in the bottom screenshot of this post).
These people think they understand Marxism, yet they don’t even recognize that Stalin’s economic policies were not only strikingly similar to the principles of MMT, but possibly the only time the core principles of MMT has been put into practice.
Why do you think the USSR was the only country that achieved remarkable success in state planning? It was the financial system put into place by Stalin, which was immediately thrown into dustbin as soon as Khrushchev took power. Not even China could achieve that without relying on foreign investments and cheap labor.
I genuinely don't even understand the 'anti-MMT' people. MMT isn't an ideology or a politics - it's just a description of how the monetary policy today functions.
it's just a description of how the monetary policy today functions.
in the imperial core.
I think the source of arguing over it comes with the territory of whether people are using MMT descriptively or prescriptively.
nope, it applies to any country with a sovereign currency
All 5-6 of them ?
I don't get the point of these comments. all I was saying was that MMT describes monetary policies in countries with sovereign currencies.
then everyone jumps down my throat going "well actually because of imperialism, there are reasons countries don't have sovereign currencies". ok? I clearly understand that, just don't understand what it has to do with MMT. like I said above, MMT is not a politics, I'm not running around condemning Bolivia for not doing MMT. it's just a helpful description of how monetary policies work in countries with sovereign currencies, that's all.
This is true, but the complication with developing countries (and I believe this is what the person you’re replying to was implicating without elaborating) is that more often than not, these countries also take on foreign loans, usually denominated in dollar.
If you take on a huge sum of dollar debt, this effectively limits the fiscal space of countries even with monetary sovereignty, because institutions like IMF will often impose demands like austerity measures (e.g. “cut back fuel and electricity subsidies”) to limit net public spending. You don’t follow the rules, you don’t get the loan, and your people starve.
MMT as it has been presented to me is missing class analysis and seems like liberals trying to do anything besides marxism.
i'd prefer it to the current regime but it's incomplete like newtonian physics.
MMT isn't an ideology, it's a theory of how money works, and the fundamental assumptions are absolutely compatible with marxist thought. There are caveats to it and it absolutely could be misused by a liberal state but it could also be used to build socialism in its early stages. You're not going to be able to get rid of money immediately, you need a transitional model, MMT could be that model.
Financial system was a key to success in planned econom? what are you on about?
Economic planning cannot take place without a solid understanding of the instruments of financial capital, even if the goal is their abolition.
Leftist-Ultra Pro Max™
Ok, Wodewick