{"id":37800,"date":"2018-09-15T07:25:31","date_gmt":"2018-09-15T12:25:31","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37800"},"modified":"2018-09-15T07:25:31","modified_gmt":"2018-09-15T12:25:31","slug":"massive-deficit-spending-greenlights-waste-fraud-profiteering-and-dysfunction","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37800","title":{"rendered":"Massive Deficit Spending Greenlights Waste, Fraud, Profiteering and Dysfunction"},"content":{"rendered":"

Massive Deficit Spending Greenlights Waste, Fraud, Profiteering and Dysfunction<\/a><\/h3>\n

America’s problem isn’t a lack of deficit spending\/consumption. America’s problems are profoundly structural.<\/i><\/p>\n

The nice thing about free to me money<\/i> from any source is the recipients don’t have to change anything.<\/b> Free money is the ultimate free-pass from consequence and adaptation: instead of having to make difficult trade-offs or suffer the consequences of profligacy, the recipients of free money are saved<\/i>: they can continue on their merry way, ignoring the monumental dysfunction of their lifestyle.<\/p>\n

This explains the appeal of Modern Monetary Theory (MMT)<\/i><\/b>, which holds that deficit spending is the “solution” to all our problems because governments can’t go broke–they can always emit whatever currency they need via printing or borrowing.<\/p>\n

The problem with government deficit spending is it’s free money<\/i> to the recipients<\/b>: there are no feedback mechanisms to enforce any consequences for spending that’s wasteful, fraudulent or inefficient\/ineffective.<\/p>\n

Deficit spending simply enables the wasteful, corrupt, rewarding-insiders profiteering state-cartel kleptocracy to continue gorging on public spending.<\/b>So what desperately needed efficiencies and improvements are imposed on the higher education cartel by handing the cartel another trillion dollars of public spending? None.<\/p>\n

What desperately needed efficiencies and improvements are imposed on the healthcare cartel by handing the cartel trillions of dollars in publicly funded “Medicare for all”? None.<\/p>\n

What desperately needed efficiencies and improvements are imposed on the national defense cartel by handing the cartel additional trillions of public spending? None.<\/p>\n

What kind of sense does it make to encourage wasteful consumption on a finite planet with limited resources?<\/b> The entire rationale of Modern Monetary Theory (MMT)<\/i> is that the productive capacity of the economy isn’t being maxed out because we’re not consuming enough.<\/b><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Massive Deficit Spending Greenlights Waste, Fraud, Profiteering and Dysfunction America’s problem isn’t a lack of deficit spending\/consumption. America’s problems are profoundly structural. The nice thing about free to me money from any source is the recipients don’t have to change anything. Free money is the ultimate free-pass from consequence and adaptation: instead of having to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[127,3575,950,17970,587,21663,827,924],"class_list":["post-37800","post","type-post","status-publish","format-standard","hentry","category-economics","tag-charles-hugh-smith","tag-deficit-spending","tag-fraud","tag-modern-monetary-theory","tag-of-two-minds","tag-profiteering","tag-united-states","tag-waste"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37800"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37800\/revisions"}],"predecessor-version":[{"id":37801,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37800\/revisions\/37801"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}