African and South American countries cannot print money to wealth and they cannot deficit spend to wealth - the IMF and World Bank would never allow it
The MMT crowd have it backwards - the reason the US can have an almost unlimited amount of government debt is precisely because they have the worlds largest military and they siphon off the worlds economy: from the petrol-dollar to ImF and Worldbank which indebts countries then ships their natural resources for pennies on the dollar to the US to forcing countries to purchase their garbage arms equipment like fighter jets etc
Michael Hudson exolains here how the US even gets its 'allies'(captive nations) to pay for its wars
MMT doesnt exist
Its not a real monetary policy in isolation.
African and South American countries cannot print money to wealth and they cannot deficit spend to wealth - the IMF and World Bank would never allow it
The MMT crowd have it backwards - the reason the US can have an almost unlimited amount of government debt is precisely because they have the worlds largest military and they siphon off the worlds economy: from the petrol-dollar to ImF and Worldbank which indebts countries then ships their natural resources for pennies on the dollar to the US to forcing countries to purchase their garbage arms equipment like fighter jets etc
Michael Hudson exolains here how the US even gets its 'allies'(captive nations) to pay for its wars
https://m.youtube.com/watch?v=paUgY6SGlgY
Why MMT is trash
https://thecommunists.org/2020/10/22/news/theory/modern-monetary-theory-magic-money-tree-harpal-brar/