Stony Brook University is now recognized as one of the nation's leading centers of learning and scholarship, fulfilling the mandate given by the New York State Board of Regents in 1960 to become a university that would stand with the finest in the country.
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Hello im sorry for leaving my comment here but all the other vids dont have comments. Congrats Andrea Mosca! Im so proud of you!!!
The Wehrmacht gets so hot when you talk like this.
f cow
Michael J Fox I love you ❤️
The way I see it, when the government borrows via issuing bonds, it is moving money that has been swilling around the financial sector and putting it in the goods and services economy through its spending decisions. If there is spare capacity in terms of people not working, unused business capacity or a bottomless pit of cheap goods available that can be imported from China, it won’t cause inflation. MMT turns this idea on its head and says that in the same scenario, what if the government instead created new money free of any interest obligations to bond holders and spent that - would it cause inflation? Logically no. I’ve even heard some economists describe bonds as near money - interestingly in 1930s Germany, the notorious MEFO bonds were used as a form of currency by big businesses involved in arms production to facilitate trade amongst themselves. You have to realise that the money a government receives for selling bonds has been created already, and was tied up in the financial sector to finance trades in shares and other financial instruments. It turns out that as money is not tied to a gold standard anymore, all of it has all been created out of thin at some point, mainly by private banks lending it into existence through their magic money tree. The trick for governments in all of this, is to not exceed economic capacity when it makes its spending decisions. In the opposite direction, governments sometimes create money to buy back bonds from the financial sector. This is known as quantitative easing. Did you know that this process creates inflation in the financial sector? But of course, nobody minds shares prices going up do they! Private banks have also been responsible for creating inflation in the housing sector through mortgage money creation (bank credit) - nobody minds that either, especially if they’re lucky enough to be property owners already.
Screw your university. Bullying your students who are peacefully protesting.
Where does his tail come out from?
An interview she did on Feb 8, 2024 titled “Was MMT right about inflation?” at 12:25 she says, “We are getting real GDP numbers that are eye popping”---She is ignoring the elephant in the room which is, how much debt was incurred to get those “eye popping numbers”? In 2023 the US government borrowed $3.2 Trillion, of which only $2.4 Trillion of GDP was recorded. The remaining $800 Billion generated ZERO economic activity whatsoever. She talks about the “multiplier effects” yet every 5 year period since 2006, GDP grew by much less than the increase in the debt which means that money vanished without generating any GDP activity. We would have been far better off taking the entire $3.2 Trillion borrowed and spent it entirely on battle tanks and aircraft carriers. We would have gotten at least $3.2 trillion in economic activity from such wasteful spending and that is with no economic multiplier effect, which is pretty hard to do. This consistent, horrific economic multiplier effect of less than 1, for the last 18 years goes against MMT theory. This theft from the US populace shows that government cannot, and should not manage all but the smallest amount of public money since they are evaporating money in a way that not even the Mafia could do.
@ 57:50 "...confirm our own ideas or get ignored..." I wonder if I did that...
The real way new money is created as debt by the central bank and what the consequences of it are then why it always needs to be paid back. It has to be paid back because the treasury securities which were created by government all mature and the Central bank has to be paid back from taxpayers money.
Kelton tries to pull a fast one on the audience with her phony illustration of what happens with deficit funding. Basically she puts across a confidence trick that is designed to fool people with poor understanding of finance. The reality is the deficits and national debt are probem but Kelton is too financially illiterate about what the deby is to know it. She often says the national debt does not have to be paid out and here claims the government spends more and does not tax it out. This is Not so and this explanation is why:- The idea that the money is not taxed back is blatantly false because the way deficits are funded is through the government borrowing the money either by selling Treasury bonds to the Federal Reserve OR selling treasury bonds to the public and foreign entities. All of those treasuries mature in time and the money to fund the payout is taxes.
Heartbreaking. May God embrace him and bring comfort to his family.
Great talk - but I wish the sound didn't record every move of saliva in the Professor's mouth and every P sound like a grenade! Next time have the person on sound tweak it a bit please? Some of us have misophonia issues.
Stephanie speaks about the U S A Presumably the same go`s for all Countries .so all Countries can print as much money as they like or does MMT only relate to the U S A .
O cara sempre foi e sempre sera fantadtico amo as musicas dele.Great Billy Joel🎤🎤🎹🎹🎤🎤
Really insightful talk. The only annoying thing about it is the sound quality. Microphone guy did a horrible job.
Such a wise and gentle soul; sad to know he passed away last year. I'm reading one of his textbooks on gas dynamics and he's wonderfully articulate. Rest in peace.
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Surprised this video hasn't been delisted considering what horrendous journalistic standards she turned out to have.
Economic investigator Frank G Melbourne Australia is following this content cheers Frank
What a quack Does anyone listen to the puke coming from her mouth?
The diseases were spread unintentionally, woketards. No one understood germs and viruses in until almost the 18th century.
How do we do a better job of explaining to the average American? The people at the Federal reserve and Treasury don't want you to know how it works. The opulent minority wants to stay the opulent minority. Trump isn't the only person who loves the poorly educated.
I know that I'm in the wrong department, but, why does everyone buy the diseases narrative? We know what happened to the Maya and Aztecs. There was European contact.
MMT is socialism with a fresh coat of paint. Irony? Stephanie is one of the richest Economist from United States. According to our analysis, Wikipedia, Forbes & Business Insider, Stephanie Kelton's net worth $5 Million. (Last Update: January 13, 2024) Ms. Kelton has pockets loaded with capitalist dollars while she champions socialism for profit. Socialism is a political and economic system wherein property and resources are owned in common or by the state.
MMT - The latest greatest packaging of socialism. New concept? Chuckle.
Milton Friedman and Reaganomics have worked so well. MMT is not a theory, it is an accurate description of our economy. It's funny how many people think they have an understanding of economic theory while actually being an indoctrinated stooge.
I think item 10 is kind of the answer in a nutshell to 'how will you pay for it'. All those workers, whether the guys who build the infrastructure or the people who build the machinery or the people who make the steel or mine the steel or who grow the food that all those people who are 'building' will eat.....will all pay taxes that will go back into the pot to continue the building and care for the people.
No, that's the opposite of what Kelton's saying. Tax revenue *never* funds any government spending. What it does is 1) drive adoption of the state currency, 2) release real resources from the private sector such that government spending on those resources does not excessively bid up prices, and 3) moderate aggregate demand by removing purchasing power from the non-government sector such that, in a similar fashion to point 2, resource prices can not be bit up excessively by the non-goverment.
It's definitely going to take a few more of these videos for me to catch on and begin to put these details together. But 'they' are going to have to come up with something because AI is going to force some kind of improvement or change to the current system as we all stare down the coming job losses that are forecasted in the future. Billions of starving people will have a thing or two to say about their situation.@@JGS2295
Already knew that…dna confirms, but didn’t reveal new info.
I would let her sit on my country's deficit.
I know it has been a few years since this video ago but I think Milton Freedman would give her that skepticle look then laugh his ass off.
I just watched NBC put together a tribute of those we lost this year and they left out Julian. They did not even cover him missing till they found him dead and even then they only mentioned it with a 5 sec phrase and moved on. Just broke my heart.
I guess if you could trust the federal government to run a deficit and use the money to make the most productive investments possible over time - infrastructure, R&D, education, healthcare, renewable energy, whatever - then you might have a case for MMT. But how are budgets really made in DC? or anywhere? Every special interest group, K Street lobbyist and so on bellies up to the trough, hands out campaign dollars in the US, factional support in the CCP, but there are so many vested interests involved, many with quite rational arguments, others with force majeure, that you're never going to get to a sensible solution over a sudtained period of time.
Genius!
Why doesn’t the government then simply print infinite-dollar bills and pay for everything for everyone? Because it would destroy the economy. So, the truth lies somewhere in between. What impact does government spending as a higher percentage of GDP have on the economy? If Uncle Sam is not concerned about deficit spending, how does its “infinity money” affect a private citizen shopping for the same product or service? Deficits are not bad until they play a role in economic hardships experienced by those having to compete with Uncle Sam. And then we have the issue of international monetary policy and the impact of deficit spending on those dealings. Deficit spending is, per this lecture, not bad for government, but I would posit that it impacts the private economy as citizens can’t compete or operate in that same environment.
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She seems to bring some sanity to defining a Fed deficit. As long as productivity increases (and you always leverage productive activities) a lot of things can be paid for. The value-added nature of the "Big Dig" cannot be underestimated by way of example. So long as MMT is not paving a road to Zimbabwe I am interested.
For some reason saying that you can blame both diseases and genocide without contradiction goes against community guidelines...on a video that discusses exactly that. Clown world.
The bigger question is which played the larger role. It was almost certainly the accidental spread of disease that played the biggest role of all by the numbers. That doesn't excuse any purposeful wrongdoing, though.
Sure miss your Rock Music writing Billy.Thank you for all your music,It'll always be Rock and Roll to me! 👏!
I've been pondering over these questions too and recently shared my thoughts on my channel. It's enriching to engage with like-minded individuals.
Republicans are not the party of economics. They have just a childish ideology and prefer authoritarianism and a class system over freedom.
Great lecture, but... when billionaires are paying less of their "income" percentage in taxes than most of us... (often it is not wages, but more tax efficient sources of income because they can engineer it that way) would it not be beneficial for the country to tax ALL of their income and spend those funds to increase production of infrastruction, and or other things that benefit everyone who lives here?
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That’s the most idiotic lecture I ever heard. Blooming stupidity! ! !
MMT Modern Monetary Theory = OCP Old Communist Practice
MMT does work as designed. I causes massive inflation and economic disparity. Of course you can endlessly create money. But it goes to the rich and widens the gap between rich and poor. The only way to be successful in an MMT economy is to inflate along with it
I miss you, young Mr. Emerson. You have a place in history: the most beautiful movie ever.
He has looks like He shoukd play aristocrats❤
🥰😔great person. Good actor. I just found out about his passing. Truly sad! As a film lover of good stories this actor touched my heart at a young age. It is remarkable how someone can make an emotional impact through films and interviews.
Please if somebody knows, what color of his eyes, and what kind of music he liked? He is my lovely actor, I cried so much when I hered that's he's died.