Tuesday, January 14, 2020

It's Nice to See Project Veritas Publicize the Fascist in Bernie's Stable, But...

Kyle Jurek, Iowa Field Organizer, isn't the scariest or most dangerous member of Bernie's team.  He's just, um, maybe, the most obvious fascist.  He wants to send anyone to Bernie's right to the Gulags and education centers.  Or be executed.  After all, he's quoted as saying
Kyle Jurek says liberal democrats should be placed in gulags or be put to death: “Liberals Get the F***ing Wall First.”
In big picture sense, though, he's a nobody.  All bluster and thunder and either gone by now or will be soon.  Much like the doctors who do colonoscopies, in a few weeks we'll see Kyle Jurek's name and think he's just some asshole we've seen before.  

The one more dangerous than Jurek would be Dr. Stephanie Kelton, Bernie's senior economic advisor, who is a strong advocate for Modern Monetary Theory.   Modern Monetary Theory is a recipe for hyperinflation and destruction of the currency.  We've seen this movie before.  Countries like Zimbabwe, and today's Venezuela come to mind.  Let me borrow a Tweet from Dr. Kelton that I've used before:



Kelton and the other MMT always cite these bad analogies.  Is it stupidity, dishonesty, or are they just expecting anyone reading it to be stupid?
  • The carpenter can run out of inches of wood, inches of nails, or inches in his tape measures.  Or anything that is used to create real things of value.
  • A stadium doesn't have anything to do with points to run out of.  The officials can't give out points the teams didn't score and retain any credibility.  The stadium rents out seats, sells food, and maintains a playing surface.   It can run out of all of those. 
  • The airline can run out of Frequent Flier miles that they can redeem: they can run out of seats to put passengers in. 
  • The USA can run out of dollars if we want them to be worth something. 
All of these MMT theorists cite illogical lines like this; they confuse numbers with numbers of real things.  Numbers are infinite; resources aren't.  If the carpenter tried to build with more inches of wood than they had bought, they couldn't do the job.  If an airline offered more miles than they could redeem, they'd lose customers.  And if a country created more money than its economy could possibly justify, its money would mean nothing and be worth nothing. 

In a way, the MMT theorists are like Marvin the Paranoid Android in the Hitchhiker's Guide to the Galaxy.  They've got “a million ideas. They all point to certain death.”



5 comments:

  1. Stephanie Kelton is a prime example of the phenomenon known as "an educated idiot'.....and also a fine example of just how pointless a college education is more often than not these days. Degrees handed out simply for showing up.

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  2. Welcome to Weimar on the Potomac . . .

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  3. These aren't mis-educated persons, these are criminally insane Batman villains. Simply allow them to push their way front and center, and let them and their followers experience the consequences they've so carefully caused to make happen.

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  4. By her same logic: "I can't be out of money I still have checks left".....

    Leigh
    Whitehall, NY

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  5. YES.

    And that goof in Bernie's campaign -- he's a young revolutionary commie who was half drunk and thought he was talking with a fellow traveler. High times, throw 'em in the gulag, burn it down, stick it to the MAN. Perhaps you've heard it many times in bars inhabited by idiotic students & co, I have and it's as stupid as it's stupid. Which is very.

    I know, execrable, but you hit on the real satan, who mockingly gives us a solution. Gold standard? Yes, please. let's re-engage our money with reality.

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