Rich and Poor

I'm interested in this quote. I most admit I'm not sure I completely understand it. But I suspect she is talking about how we have a system of debt. We can have nice clothes, a new car, a house, food, etc, and still have lots of debt, which is driving the actual money into the pockets of the rich lenders.

As the sole issuer of the US dollar on this planet, the US Govt's "debt" is not a real debt and doesn't have the same meaning as it would to you & me. Only presenting half of the double-entry accounting equation has been done to purposely mislead the populace. As the creator/issuer of the dollar, the Federal Govt is in "debt" to itself. But, that means that there is a surplus or profit to someone else. Since new US dollars are exclusively created each time a bill enacted by Congress to purchase goods & services from the private sector (anyone not the Federal Govt) is paid, the private sector (think you & I) profits. If you look at that fearmongering National Debt Clock, what is shown are the total number of dollars spent into existence from Day 1 y the US Govt's perspective. But, seen from our perspective as the recipients of those dollars, the "clock's" numbers show the National Asset. Regarding the quote from Stephanie Kelton, it was in response to Paul Krugman's dying gasp to discredit Modern Monetary Theory supporters on behalf of the establishment that pays him to do so. I'll link you to the article, but first, know that monetary policy has been delegated to the Federal Reserve Bank by Congress that primarily consists of maintaining overnight interest rates for interbank lending. Fiscal policy is the responsibility of Congress and uses taxes to influence the total demand for goods & services. IOW, taxing more dollars from the economy leaves fewer for our use and taxing less allows more $ for our spending. https://www.bloomberg.com/opinion/articles/2019-03-01/paul-krugman-s-four-questions-about-mmt

You aren't by chance on social media. I'm really wanting people who know what they are talking about to discuss this topic. I know a bit but am not an expert by any means. I appreciate you explaining this to me. :0)

Join Real Progressives on Facebook, Twitter, and YouTube. They have been singular advocates of Modern Monetary Theory for years. Most non-econs, like me, were introduced to what is described by MMT analysis through Real Progressives. Their social media sites are full of source materials and videos of MMT economists. RP, also, livestreams many interviews with politicians and economists. Prior to the last Mid-Term election, one of our members we refer to as Savage Joy interviewed over a hundred candidates, state & federal, from across the country. Learning what is described by MMT is used as a lens to cut through the BS and misinformation that prevents Progressive plans, and that knowledge allows us to vet better candidates who will actually legislate for all constituents and not just the few. I should mention that during and after her interview with Savage Joy, Alexandria Ocasio-Cortez was intrigued enough by our MMT-based questions and comments that she learned the basics of the subject she had heard about but not fully understood. As we all have seen, her passion for the people + MMT knowledge is a deadly combination, and she has weaponized that knowledge to use like Kryptonite against Neoliberal oppression.

I'm leaving FB and any other like corporate social medias because of rampant censoring that I've experienced first hand for nothing but having a political opinion that does not fit their Large Monetary Interests. In any case I'm in a small Modern Monetary Theory group at MeWe. I'm hoping for it to grow. I'm also over at minds if you know any good groups there. Facebook by the time they alienate everyone will be going the way of myspace...