Heckyman
pfm Member
But that’s not all you said, the end of your sentence was, “(aka printing money) in order to allow for an increase in public spending.”.
Again, you state again that MMT supports the theory that governments purchase debts to fund spending, but again, does it? Where does it state that support?
it should also be noted that you went on to finish that sent an e with, “(aka printing money) in order to allow for an increase in public spending.”. Where does MMT say that spending needs to be pre-paid for? Surely the opposite is true, MMT a say that government does not have to be paid for in advance.
Ah, I see. Perhaps my wording was clumsy. I was just referring to the standard process (not disputed by MMT, AFAIK): government issues debt (bond), central bank buys bond, government gets new money.
We are not (yet?!?) at the stage where Johnson gets a BofE current account that starts from 0 and goes as far into the minus as he can get away with!