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Modern Monetary Theory (MMT) (Read 145882 times)
thegreatdivide
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Re: Modern Monetary Theory (MMT)
Reply #1440 - Feb 28th, 2026 at 10:47am
 
https://www.abc.net.au/news/2026-02-23/reducing-inequality-means-taxing-capital-...

Reducing inequality means taxing capital more — including inheritances

By Alan Kohler, Feb 23rd.


....

Well....yes, Alan - if you insist currency-issuing governments must tax or borrow in order to spend.

Meanwhile Angus Taylor is insisting that "taxing housing reduces supply", while sneakily ignoring the intergenerational inequity issue, ie, cashed-up  tax-advantaged, rent-seeking investors who can out-compete first-home buyers in an overpriced housing market.
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« Last Edit: Feb 28th, 2026 at 3:55pm by thegreatdivide »  
 
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thegreatdivide
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Re: Modern Monetary Theory (MMT)
Reply #1441 - Mar 1st, 2026 at 9:52am
 
Marxist economist Michael Roberts' view on market concerns re AI:

https://thenextrecession.wordpress.com/2026/02/26/citrini-and-the-ai-doom-scenar...

(conclusion)

Mainstream economists suggest that labour could be protected by a tax on AI agents and capital and/or government handouts to the unemployed – these are the usual remedies offered for the Citrini calamity.  But that would not be effective if profitability is eventually squeezed. Instead, what is required is the collective ownership of AI technology and its private owners so that any gains in productivity would be used for social needs (reduced hours and increased public goods and services).

There were three reasons why stock market investors panicked on reading the Citrini scenario, despite the holes in its arguments.  Investors were already worried about a possible AI bubble bursting if the huge investment in AI models did not deliver sufficient returns.  Investors could also see that existing software development companies with human labour are under threat from AI agents; and they also worried that any bursting bubble could spread to the unregulated private credit lenders and cause a systemic crisis. But investors have been reassured by the counter-arguments to the Citrini doom scenario and, for the moment, it is back to business as usual
.
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thegreatdivide
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Re: Modern Monetary Theory (MMT)
Reply #1442 - Mar 2nd, 2026 at 11:11am
 
Prof. Steve Keen explains the new world order is already here.


"The 'new world order' phase begins"

https://www.youtube.com/watch?v=WH-yTE26kOE

........

Note the first two replies to the video:

1. “Behold. The festering carcass of American rot shoved into an ill-fitting suit: the sleaze of a conman, the cowardice of a draft dodger, the gluttony of a parasite, the racism of a Klansman, the sexism of a back-alley creep, the ignorance of a bar-stool drunk, and the greed of a hedge-fund ghoul - all spray-painted orange and paraded like a prize hog at a county fair. Not a president. Not even a man. Just the diseased distillation of everything this country swears it isn't but always has been - arrogance dressed up as exceptionalism, stupidity passed off as common sense, cruelty sold as toughness, greed exalted as ambition, and corruption worshipped like gospel. It is America's shadow made flesh, a rotting pumpkin idol proving that when a nation kneels before money, power, and spite, it doesn't just lose its soul - it runs out this bloated obscenity and calls it a leader.”
― Oliver Kornetzke

2. Remanufacturing seems a good thing for USA but today with AI and robots, it would not create a lot of good paying jobs.   You just have to look in China, they are the best at manufacturing electric cars because their factories are fully automated with robots.  There are almost no workers in those factories.   So if an occidental company really wants to compete against China factories then it will have no other choice than building a fully automated factory too.   Therefore it will never bring back all the millions jobs lost to China and other south asian countries. Be ready for a painful transition toward the new world.

.....
 
I googled 'Oliver Kornetzke'

Oliver Kornetzke is an American writer whose commentary of  US and global politics is known for its raw honesty. 

Ouch.....




 
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