Comment on Editor on ‘U.S. billionaires and the pandemic’*
The macroeconomic 3-sector ProfitLaw Q≡(G−T)+(I−S)+Yd implies Public Deficit = Private Profit, meaning that the MMT policy of deficit-spending/money-creation is a free lunch for the Oligarchy.#1, #2
The COV19-triggered acceleration of deficit-spending/money-creation will result in the biggest profit explosion ever. Thus, COV19 is a godsend for the Oligarchy. Politically, this is old stuff in a new package.#3
MMT policy works just fine ― for the Oligarchy.#4
Egmont Kakarot-Handtke
* RWER
Related 'Wikipedia, economics, scientific knowledge, or political agenda pushing?' and 'A battle for hearts and minds ― economics redefined' and 'Keynes, Lerner, MMT, Trump, etc. and exploding profit' and 'Profit' and 'MMT ― now official doctrine' and 'MMT: fraudsters united' and 'MMTers hide macroeconomic profit in order to deceive WeThePeople'. For the full-spectrum refutation of MMT see cross-references MMT.
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| Source: RWER |
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US Deficit in 2020
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| Source: Google |
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| Source: The Balance |
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