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Basically, what the advocates of MMT argue is that their policy can overcome the fundamental contradictions of capitalism itself. In other words, reformism. John Reimann On Wed, Feb 12, 2020 at 8:55 AM MM <marxmai...@gmail.com> wrote: > On Feb 12, 2020, at 11:07 AM, John Reimann via Marxism < > marxism@lists.csbs.utah.edu> wrote: > > Yes, debt does have to be repaid. Or, put another way, the US government > does have to pay back those loans/bonds and T notes, or at least there has > to be confidence that it will do so. At some point, as the world becomes > flooded with dollars, the only way that the US government can maintain that > confidence will be to increase the interest rate paid on those instruments. > Does anybody think that won't have an affect? > > > The US only has to issue bonds and T-bills because it’s a discretionary > legal requirement imposed by Congress; there is no other basis for that > requirement. I realize you aren’t going to read any of the materials that > deal with all of this, but I’m not going to waste any more time dealing > with fundamental misunderstandings like this. They’ve been dealt with at > length in the MMT literature. > -- *“In politics, abstract terms conceal treachery.” *from "The Black Jacobins" by C. L. R. James Check out:https:http://oaklandsocialist.com also on Facebook _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
