"...I'll try my best to spread the news that THE WORD IS OUT! And also spread the further news that the Government can't run out of money, no matter how much it owes and that there is no solvency problem.
So there is also no deficit reduction problem, no national debt problem, or any Social Security, Medicare, or Medicaid problems, or grandchildren burden problems based on fears of, or claims about, insolvency unless we pay our debts back!
I have to say however, that even though THE WORD IS OUT that solvency is not a problem, and that the austerity/human sacrifice crowd must now either fall silent or flip flop to inflation as their new rationalization for driving working people into poverty; I don't think for a minute that they will do either one.
Instead, I think they will assume that the news will never get out to most people and that they are free to go on with their same old narrative about possible insolvency making austerity necessary, without people either laughing at them or calling them liars. The MSM is unlikely to notice that the Government can create currency whenever it wants to, and they will just forget about the admissions made this week after the S & P downgrading, and reinforce the old money scarcity story, without missing a step, to please the Peter Petersons, Kent Conrads, Alice Rivlins and David Walkers of this world. The president already did this in a speech he made today.
So, I think that besides doing our best to spread THE WORD, we also need to pressure the President to prove that the United States Government has no solvency problems, and can never run out of money. In other words, we need to call for the President to use very high value Proof Platinum Coin Seigniorage (PPCS) to begin to pay back the national debt and also to create a balance in the Treasury General Account (TGA) that is so large that no insolvency claims are even thinkable.
The basic idea is to mint a $60 Trillion platinum coin, turn it into electronic credits at the Fed, use the money, first to pay down $6.2 Trillion in debt immediately and the rest as it falls due, and confront Congress with a balance of of about $52 Trillion in the Treasury General Account (TGA). Then, facing that $52 Trillion in available financial resources, and with the President using the bully pulpit, let's see the austerity/human sacrifice crowd, even with all the money in the world behind them, try to justify voting for spending cuts in entitlements and other much needed areas of domestic spending."
"This MMT...stuff, while often very well argued, and well intentioned, reads exactly like Glibertarian calls for the repeal of the 16th and 17th Amendments, like a newly minted syndicalist's calls for the immediate abolition of the state and the sui generis rebirth of a complete socialist order, like a conservatarian's demand for a 19th century application of the Constitution, or like Gold Standarders demand for the end to fiat currency and the fiat return to a metal standard.
Before I'm misread - I understand that you are arguing for an aggressive use of the fiat, but you don't seem to really get that the public doesn't care, and you cannot make them care.
This is futile agitation, because the state that actually exists is never, ever going to do what you want."
"Since it's so useless...why don't you just go back to despair and staring into the void. Thanks."
"Could be. But I'll keep trying because I know the public will care when there's $52 Trillion in the bank.
"When my youngest...wants to spend hours talking to me about Guild Wars and this new ranger build he's worked out, I don't feign interest. I am interested. Because I love him and he's so fucking beautiful it hurts me to realize that he's ever going to die.
But, I have no illusions that his fascination with a video game character will substantively change the world.
Because it won't. No matter how earnestly or honestly he tries to communicate the importance, right at this very moment, of this figment un-thing he's made, this little fraction of the total noos which he believe he controls all by himself, I know that his passion alone cannot move people to care.
Because this toy doesn't resonate. Its language is not the language of people in their everyday lives. It cannot move them, or us, because we have a shared knowledge, a common and sad recognition: a distraction is the admission of impotence. The obsession with a perfect game, or a fantasy world where the impossible hero has the one key which saves the kingdom? This is the admission of powerlessness.
Back when I was much, much younger, I had friends who were just as invested, just as passionate, just as fascinated with their Dungeons and Dragons characters. They longed for the end of the school day, or the absence of a parent in the house, to rush into contact with the suspended and unrealized worlds they'd spent hours imagining into a labile half-existence, fraught with imperfectability because they were precisely and utterly fictitious, always bordering as they were on a complete collapse, following the slightest interruption, perhaps from mom's return, or a phone call, the bark of the neighbor's dog, or the need to take a shit.
This is your MMT, as I read it.
That I understand it exactly as a tinkering with a character, or a map, or a dungeon from a role playing game does not mean I'm somehow committed to despair. I'm not. I just believe that a different set of paths to justice are more likely to become trails, and then roads, and perhaps even highways.
So, here we are:
You are role playing, in my humble opinion, from your own recognition of powerlessness and impotence. And I don't mean that as any sort of condemnation, or disapprobation.
I am without material substance. I'm ill, and poor, and because I decided to undertake the role of homemaker so my wife could return to the workforce, I'm a joke applicant now even at Wendy's. I kid you not when I tell you that one of the interviewers said to me, "Dude, you can't be a dude who stayed home to raise your kids for five years and expect to get a job. We have real men applying every day."
I understand powerlessness, and impotence.
I'm looking at your tinkering from the outside. And not with any hostility. It reminds me like nothing else as much as it reminds me of a teen aged, geeky dungeon master crafting the perfect Saturday night mission.
(I know you are not the only one, and I'm using the "you" in its plural form as well.)
But, there the lot of you are, with your maps and your graph paper and your manuals, and you really have built the best story, with the most fully developed narrative and characters imaginable. It's just that the guys on the football team, and the school principal, and the guidance counselor, and the mean office secretaries are not going to ever hand you access to the school's PA system, so you can tell all those kids sitting through home room about this best-est, totally most gnarly game ever.
And even if you did steal into the office, and risk detention or suspension in order to get your game notice out over morning announcements, anyone with a sober head and a kind heart could predict the outcome.
You are in for a long year of unremitting misery.
Which doesn't mean you shouldn't try. It's just that you don't really have a grasp of your own actual environment, at least as I see it.
And me - an anarchist - telling you this is some kind of irony, I know.
But, that's fundamentally also where we differ. I'm no stranger to utopia. I believe our reach must always exceed our grasps, or the stumbling forward into the future backwards that is such a salient feature of our too brief existences becomes a headlong pitch into the mud and the muck, with no real reason to get up again.
You've got to know your world well, you have to know how to hate it, in order to place a flower of hope in the vase of utopia. You've got to be honest about it. You have to be sober before and after your fancy, and your intoxication. If you're not, the drunkenness loses its charm, and becomes an uglier kind of fixation, and then - an addiction.
The state we have is not constituted to embrace or promote your form of Chartism. That state is a wholly owned tool of the capitalist over class. It is not run for the benefit of the proletariat. It only interfaces with that other perfect fiction, the middle class, to task the smallholders with hating on brown and/or poor people. You will never capture it and make it something it cannot be until you get rid of the over class which constitutes it.
And if you can actually get rid of that over class, there will be no efficient national state to capture in order to impose this perfect, fantasy fix."