Why governments run deficits—to help the private sector net save. This week I interviewed MMT economist Steven Hail on everything we get wrong about money—and how to finance a renewable economy. Listen to the full episode now:

I try to get across that MMT is simply a description of monetary systems with one federal/national government and one currency-issuing central bank sitting beneath it. It is not a policy proposal, although understanding the system clarifies that the real constraints are.

@StevenHailAus

@StevenHailAus TY for the discussion. I listened to the podcast and was still a bit confused, but I found this article helpful.

@StevenHailAus Very informative. Puts debt and deficits into perspective while addressing inflation. Hope Finding the Money will get to streaming services soon.

@StevenHailAus 😃👍 Thanks for being a leader. It's critical for all journalists to understand these economic myths.

@StevenHailAus Thank you for doing this!

@StevenHailAus Taxes force citizens to use government money. If there are no taxes, the government cannot spend without creating inflation (a hidden tax). Inflation and the bond market create "limits to monetary growth". High interest payments create "debt spirals", which no one wants.

@StevenHailAus Brilliant guest.

@StevenHailAus How come for most of us things are worse after these deficits ? The whole system needs looking at in terms of a fair crack for us all. This MMT does not address the elephant in the room, the inequity of the system as it runs.

@StevenHailAus You complete fools .. it’s always the taxpayer money cause the taxpayer is US and the govt is there to serve US ! We THE PEOPLE . Simple as that. Go back to the drawing board or comeback to hard money #bitcoin