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RE: Hyperinflation Will Help Eradicate the Keynesian Disease.

in #economics4 years ago (edited)

It's not even Keynesianism anymore. It's the Neo-Chartalist aka Magic Money Theory disease. They insist that income taxes are "counter inflationary" but you'd have to tax the shit out of the middle class for that to be true lol. The reason the U.S. government has so much leeway in deficit spending isn't because they have unlimited spending power but the military prowess to enforce dollar hegemony around the world. That bloated defense budget is what makes their back of the napkin theory remotely plausible.

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