😳 Reacting to Unhinged MMT ‘Just Print More Money’ TikToks

Why can't the government just print more money to pay for everything?

If you got all your answers to this important question from Modern Monetary Theory TikTok, you'd destroy the economy in seconds.

On this episode of #BradReacts, Brad debunks the far-left economic theory known as "MMT" and explains where it goes wrong.

This video is brought to you by the Foundation for Economic Education, FEE.org.
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00:00 - Intro
00:24 - The Fed can create money anytime? 🤑
02:37 - MMT Cowgirl 🤠
04:17 - Government can't ever go broke 👛
05:53 - Outro
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#Libertarian #Economics

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[josephlong]

Sir you must have the patience of a saint. I listened to this on my way home last night and I was yelling at my phone out of astonishment and frustration. I am sure that these folks have desirable qualities, but their absolutely idiotic understanding on how money works makes me label them as a drain on society.

[nealrogachefsky]

The moment of truth question for any one of these 3 individuals is to ask them why hasn’t the government just printed and handed out enough money to make every US citizen a billionaire?

[espana]

This tiktokers are not MMT economists, they are only cringe millenials.

[Isc]

These idiots. You will have to service and pay government debt off if the market loses confidence in the governments fiscal position. That debt is held by individuals. Every dollar gov spends that it doesn’t have, is born by the individuals in that economy.

[sangaman]

The first doctor guy was right, at least based on those two little snippets. There's no "scarcity" of dollars, and there's no need for future generations to pay down current debt.

But it's also true that actual goods and services are scarce, and that consequences of wasteful deficit spending are felt by people in the present via higher prices and shortages.

[teddybruscie]

Can you try actually reading MMT content before responding to MMT Because all of your responses are just strawmen arguments.

[randyallred]

Because you have not actually read any MMT literature, you FAIL on several factual & logical points:

1. The doctor NEVER SAID that spending has "no consequences" — only YOU said that. It's a STRAW MAN. Logic fail. MMT teaches that resource scarcity is the limit to spending. You FAIL to recognize that because you haven't read any MMT literature. Either that, or you are just being dishonest.

2. "Every dollar the government spends it has to take from somewhere else." — FALSE. The Fed issues bank reserves and the Treasury issues Treasury securities. You FAIL to account for the existence of money itself. (Taxpayer do not issue money, as you imply.)


4. "The debt" does NOT "slow down our economy"; this is another fundamental accounting error on your part. Your analysis here is literally BACKWARDS: federal deficit spending ADDS dollars to the economy, it doesn't remove them. HUGE FAIL in basic accounting logic here. This is also the root of the familiar "crowding out" myth.



6. You FAIL again with the cowboy; see #1 above. If you had read any actual MMT literature you wouldn't be making this ridiculous rebuttal about resources.

7. The "Quantity of Money Theory" which you clumsily recite here has been discredited for decades; even Milton Freidman admitted in 2003 that it *doesn't work.*


8. You keep ranting about real resource constraints as if MMT ignores them. You've made it clear that you haven't actually read any MMT literature; you're just attacking strawmen.

Meanwhile, with this blindered analysis you encourage voters to think that "we can't afford" something for which the real resources DO exist (e.g. universal single-payer healthcare).

9. You are ridiculously illogical—first you claim that the problem is "printing money" without taxes to account for it. THEN you claim that the problem is having to pay taxes to pay for it! LOGIC FAIL. See #3 above: taxpayers and the government do not share a balance sheet; they are counterparties.

This is because, as you made clear in the beginning, you confuse the national government's finances with a household or business's finances. You confuse micro with macro—guaranteed fail.

It's fine to have conservative values, if that floats your boat, but you and the Foundation for Economic Education lose credibility when you repeat economic myths and make specious—and dishonest—claims about MMT.

[JedHelmers]

How does MMT explain the collapse of the Soviet Block?

[JohnDoe-evfk]

I like the book in the background, got one just like it

[SteveLauhoff]

Brad, iced coffee can help that nausea. I wonder if you played those videos to plants if they would grow bigger. MMT is really only useful for fertilizer.

[aarontopinopolis]

people under 50 years old shouldn't even try to make video titles on certain subject matter. Truth is money printing has been occurring longer than you've been alive, your father too, even your grand father. So you see, they CAN just print money, and they will continue to do so. They have no other viable option. This guy should have stuck to making videos about Fortnight or overwatch or something he actually has years (decade or two) of experience and knowledge about.