We need YOU!

MISSION:
To deploy an army of MMT proponents to respond to deficit terrorism on the web.
Go to offending articles. Neutralize flaws. Report back to home base.

MERIT AWARDS:
An MMT heart () will be awarded for each successful strike.

PRIZES:
In November, prizes will be awarded to those with the most MMT , including an all inclusive trip to the Center of the Universe, St. Croix, USVI.

HOW TO PARTICIPATE:
1. Sign up
2. Track down the deficit terrorists
3. Counter attack with comments on their websites
4. At the end of your counter attack, leave your mark on their website
        Your Name or Alias
        www.moslereconomics.com
        Counter Insurgency, Deficit Terrorist Unit
5. Report back to headquarters for review

If you do not sign-up AND report back to headquarters for review, the MMT will not be awarded.

If you need assistance, let the group know.
We will put out a call for back-up.

All appropriate comments properly signed out will receive MMT .

Leaders will be posted within the next few weeks.

Good luck to all that participate.

GO TEAM!

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147 Responses to We need YOU!

  1. rodneyrondeaujr says:

    I’ve sent letters to congressen, senators and the president. They probably know and want to keep up appearances. I harass every hypeventlator that i come across. keep on keepin’ on.

    Reply

  2. Henry says:

    About the decline of the Muslim world in the 12th century: don’t forget the critical fact of the Mongol invasions. This was the key factor in the decline. The “fundamentalism” was a by-product.

    Reply

  3. Henry says:

    Here’s a reply by a reader to a my post on MMT–this is what you are up against in some “progressive” circles. The comment concerns Warren’s metaphor for fiat money as being akin to points on the scoreboard. You can see how far this person runs with the metaphor!

    Please comment.
    ———————————————–
    Let me try to break down what I am saying with regard to the “points in a football game” analogy. First, let me make sure we are clear about the labeling. I assume the following:

    – points = dollars in fiat currency
    – winning team = richer people
    – losing team = poorer people
    – referee = authority (government, but perhaps also banks, et al)

    So, the referee can assign points virtually unconstrained by material reality. I say the referee assigns them because I think we would agree that the points no more jump onto the board spontaneously than dollars spring in and out of our wallets without some human agency. And herein lies the rub, I am saying: this human factor cannot be eliminated in material reality, so also must be considered in any descriptive model that hopes to have use-value. Also, it is ultimately this human factor which makes the use of money less than ideal at best, and likely just plain unsustainable. Let me be clear: I am *not* claiming monetary systems are unsustainable because there is some physical or mathematical limit on the amount of money that can be created in a fiat system.

    So the referee is assigning points based on touchdowns, field goals, etc in the same way that merit is the supposed basis of wages and earnings. But let’s scale up that football game so that instead of a few dozen players and a handful of officials, it’s now layer upon layer of officiating bureaucracy and hundreds of millions of players on who knows how many teams. And let’s throw in a revolving door through which individuals go back and forth between the winning teams and the officiating bureaucracy. Then let’s iterate this scenario over a few hundred years. Doesn’t it only make sense that the officials are going to heavily favor the teams they know they are going to go back and play for? Even in football-as-played there are many instances when people feel an official has made a bad call or even been paid off. Now raise the stakes that much more and give the system time to normalize this behavior and what do you get? My hope is that it will be an audience who decides to leave the stadium and demand a refund ;-)
    26 July 2010, 6:53 am

    Reply

    Tom Hickey Reply:

    This is about cheating. MMT’ers address this, too. See Warren’s reform proposals, for example.

    Reply

    beowulf Reply:

    More to the point, this is the system we live and work in now. The scoreboard is up and running, that’s not going to change. The only question is whether it should be operated by scorekeepers working for the bank’s interest or scorekeepers working for the public interest.

    Reply

  4. Stan says:

    “And historically, that has always ended badly because it is inherently unstable over time.”

    Historically, there has never been anything remotely like the modern world. And what does “ending badly” mean? Bad means what? And bad for whom?

    The endgame means a technocratic dictatorship. This is exactly what the plutocracy has in mind. Brzezinski and others have explained it. Whether it succeeds is another issue. It has already succeeded in part. If it does fully succeed, its stability over time is another issue. At any rate, in this world, everything changes over time.

    Reply

    Tom Hickey Reply:

    Stan, the patterns affecting civilizations and empires are similar across time. One can learn a lot from history, including economic history. Most contemporary economists are unfamiliar with economic history, and in their theorizing they just make stuff up about it.

    The empires of old were the most technologically advanced in the world at the time, and they spread their technology widely. Eventually, all went into decline and were replaced by the next iteration, sometimes after a relatively extended period of civilizational collapse. Those whose institutions have more inbuilt instability unwind earlier.

    While I agree that contemporary technocratic power structure is daunting, its plans made public, and its march seems inexorable, I’ve also studied the relationship of Vietnam with the West and witnessed some of it. I don’t think that General Giap ever had the slightest doubt that he would triumph over the French and then the US, even though the odds seem nigh impossible given the technological gap. There are other more powerful forces at work. BTW, did you know that the Viet Cong took over the north, Ho Chi Minh walked into the front door of the presidential palace and out the back door, and erected a traditional hut in the backyard, where he lived instead of in the palace? The US failed because they thought that the solution was technological, when it was moral.

    While I am concerned over the technocratic direction things are taking in the process of globalization, I remain optimistic that an evil empire can be prevented, and if that is not possible, it will also fall eventually from its own weight. This is chiefly a move by the Western powers, and I suspect that they are not going to be able to pull it off successfully. There are already signs of opposition and alignment against it.

    Another reason for hope is that now I do not think that people in power now are like powerful people in the past who were selfishly motivated solely by power and what it brings. I do think that most of these people are basically good people trying to do the best for the world, while paying themselves very well for their trouble, of course. They are more misguided than rapacious, I think, although there is also that element involved. It’s always there when power and wealth are in play, and it is a temptation that not many powerful people can completely resist.

    So I don’t think that we are going to be dealing with conditions comparable with the past, where empire was driven intentionally by conquest and subjugation. The present order is going to change relatively quickly, with a possible collapse, because of shocks from environmental and ecological unsustainability, if vested interests prevent that from being addressed. You can’t continually foul the nest and expect not to get sick.

    Reply

  5. strawberry picker says:

    “dumping coated paper into the US market. ”

    Why is this a bad thing? I thought warren has constantly said that we americans should sit back and enjoy all this output that others work to produce, imports a benefit, exports a cost no? Tell those 90 workers to get on this blog and trade MMT ideas back and forth for free and start doing higher order stuff while on the government dole.

    Tom I am deeply troubled by what you say about gold and the chinese and indians. That it is deeply ingrained in them and thier culture and something we cannot change. If we convince a lot of people in the USA about MMT, but we wish to import lots of stuff, technology, food, energy etc etc from chindia and they really only want shiny bits of golden metal in trade, we are gonna be hurting no?

    http://www.c-spanvideo.org/program/id/222683

    Stefan Halper says china is going into all these developing regions and securing resources and supporting the local governments without trying to force moral changes like the west is trying (and failiing) to do.

    Reply

    Tom Hickey Reply:

    “we wish to import lots of stuff, technology, food, energy etc etc from chindia and they really only want shiny bits of golden metal in trade, we are gonna be hurting no?’

    It’s not a return to the gold standard. Ordinary Chinese and Indian traditionally put a good chunk of their savings into gold, which they buy on the market as a commodity. Indians especially like gold jewelry, and this counts for a significant portion of gold sales internationally. It will only increase as India becomes more affluent. It’s not only a matter or savings but a way of displaying social status. A woman’s adornment displays the social status and wealth of the family. Naturally, people achieving higher levels of wealth and status will want to manifest this in the traditional way unless the culture changes quite a bit. So, with India and Asia coming online, there will be increased demand for gold.

    Reply

    strawberry picker Reply:

    “A woman’s adornment displays the social status and wealth of the family.”

    This is what concerns me, Halper made a strong case that we are losing the political and cultural influence war with the developing world. That they are going to adopt chinese ways and not our ways. This “Gold Meme” is not something we need to let 3 billion or more people get into thier head as chindian influence spreads – this can only hurt present and future MMT efforts no? So I am going to have to dress like Mr. T from the A-Team to be able to be considered as a mate in these cultures :(

    Reply

    Matt Franko Reply:

    Daryl,
    Its only a bad thing if we continue to effectively tell the 90 people who just got thrown out of their jobs ‘too bad suckers!’. With a JG funded by fiscal, they could go right into doing something else within their community that is meaningful and productive, adds value to their communities.

    Then we could tell the Chicomms: “thanks for the free paper in exchange for marking up some numbers on our compter system! good luck with your Job Guaranty program.” If they didnt like that smart-a__ comment, they could just stop selling us paper and then the 90 folks could leave the JG program and go back to their mill jobs making paper again.

    Strawberry, you continuously over estimate the business value of what Asia sells into our markets. They only provide about 3% of our GDP and they are glad to get it. In this case paper has been around for 1000s of years, they have finally discovered it I guess. they also probably dont need it for over there, depending on what you print on it, you could end up in prison, probably they feel its not worth taking the risk to use it themselves so they send it over.

    Resp,

    Reply

    strawberry picker Reply:

    “With a JG funded by fiscal, they could go right into doing something else within their community that is meaningful and productive, adds value to their communities.”

    I have had this debate with Mish for over a decade now. The retraining of detroit auto workers in their 40’s, 50’s or 60’s to do something else. Something higher order or more productive. That I don’t see it in the cities I frequent, and why I hate his “liquidationist” ideas. Mish argues to fire all these union/government workers and let them learn new skills/trades.

    The reality is that many of these people are old dogs that I don’t see learning new tricks. Andy Grove of Intel talked recently about the inability of passing on skills from one generation to the next. I can see a JG working for young people or freshly out of college to keep thier “work ethic” alive until they can find useful gainful employment, but from what I have seen from detroit and other places, this policy is not going to work so well for our older displaced workers.

    “90 folks could leave the JG program and go back to their mill jobs making paper again.”

    I see the kindle and ipads all around me, perhaps in the future paperless society, they would be better served learning how to program android apps than holding onto “buggy whip” making skills in an automobile society eh?

    “Strawberry, you continuously over estimate the business value of what Asia sells into our markets. They only provide about 3% of our GDP and they are glad to get it.”

    Guilty as charged, from the clothes on my back to the parts for my truck I deliver strawberries in, all made in asia. USA the worlds largest debtor nation, China the worlds largest creditor nation, somethings gonna give.

    “In this case paper has been around for 1000s of years, they have finally discovered it I guess.”

    China is a good lesson in the rise and fall of empires, they have probably “re-discovered” paper what 4 or 5 times now? :)

    I read alvin toffler’s futureshock a while back and concurred that change is going to happen so fast in the future very few will be able to keep up. A shame we have to keep re-discovering paper every few hundred to few thousand years in some places :(

    Reply

    roger_erickson Reply:

    Matt,
    the layoff at the coated-paper plant you mention may not be due entirely to Chinese imports, but also to the announcement yesterday that coated receipt-paper was the largest known remaining source of bpa contamination

    ps: I’m also in Maryland; please contact me at rgerickson at gmail dot com

    Reply

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