Originally Posted by
Dan Druff
We should be back to 2019 life at this point, but we aren't..
I can’t and won’t give you a lesson in MMT and it’s mistaken thinking. All you need to know is we increased the money supply by 40% and
real resources dried up. Energy, labor, chips, food - THERE IS NOT ENOUGH STUFF.
When you print money that does not create wealth. Real resources are wealth. This is all you need to remember.
MMT’ers believe gubmint central planners can allocate the created dollars properly and stimulate real resource growth. I know you aren’t a big fan of the wisdom of central planning. I don’t do drugs either.
This wasn’t just an “America” thing. The whole world shut down and went to 0% (or negative). Admittedly we printed like a mother fucker cause we can.
This didn’t start with Biden. Was he a catalyst in accelerating the collapse? Absolutely. He’s an idiot.
In fairness, I posted many times in 2020 about my astonishment as a Trump voter at how truly stupid Trump appeared to be during his daily Covid television nonsense. Laughably Trump trying to prove he was smart become a thing and that was even more cringe.
I digress
I was thinking the other day I wish I had the letter Trump sent announcing my stimulus payment was being sent. Definitely collectible.
All you need to understand is that you cannot print your way out of tough times. Glad your favorite Wall Street bank was saved in 2008. I’m glad people didn’t starve in 2020. But you were just kicking the tough times down the road. Those times are here.
We were NOT going back to 2019. We were calling for a massive correction for years prior. The market is wronger longer than you would think.
The reset is healthy in the big picture but let’s keep that opinion to ourselves. Ten years will go by very quickly