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Biden's incoherent economic advisor

Jared Bernstein is the architect of our current economy. Below is from an interview last week.

Kelton asks Bernstein a simple follow up question: "Like you said, they print the dollar, so why does the government even borrow?"

Bernstein's replies sounds like a high school student doing a presentation on a book he didn't read:

Well, um… the… uh… so the… I mean… again, some of this stuff gets… some of the language that the MM… some of the language and concepts are just confusing. I mean, the government definitely prints money and it definitely lends that money. Which is why, uh… uh… the government definitely prints money and it lends that money by uh… by selling bonds. Is that what they do? They… they… um… they… yeah… they… they… um… they sell bonds. Yeah. They sell bonds, right? Since they sell bonds and people buy the bonds and lend them the money. Yeah. So, a lot of times, a lot of times, at least to my ear with MMT, the language and the concepts can be kind of unnecessarily confusing, but there is no question that the government prints money and then it uses that money to um… uh… eh… uh… so… um… yeah… I… I… I guess I'm just… I don't… I can't really ta- I don't… I don't get it. I don't know what they're talking about, like… cuz… it's like, the government clearly prints money. It does it all the time, and it clearly borrows. Otherwise we wouldn't be having this in.. this conversation. I don't think there's anything confusing there.
Northwest · M
This was a clip, from a documentary on MMT, which seems to be done by an anti-MMT group.

Yes, explaining how the relationship between government borrowing and government money-printing, is difficult.

Perhaps we should wait for the actual documentary, instead of the sound bite you got. But the group that's doing the documentary decided to only release this sound bite, to Fox and Fred Smith, instead of waiting until the documentary is ready.

How's Freddie Smith doing BTW? Is he now in rehab, following his stint in jail?

Do not fight uphill me boys!
Vin53 · M
Huh...Sounds like he graduated from Trump Univ.
DogMan · 61-69, M
@Vin53 No, Trump can speak, he sounds more like Biden.
justanothername · 51-55, M
@DogMan Trump only waffles about himself for 45 minutes. None if it means anything or is worth listening to.
AbbeyRhode · F
A proud graduate of the Joe Biden School of Public Speaking.
justanothername · 51-55, M
Trump would take 4x longer to say a lot less.
ChipmunkErnie · 70-79, M
Or you could listen to him for real?[media=https://youtu.be/VKzcz4pRCgI]
Kygirl · F
You're so right, it doesn't take a rocket scientist to figure out what's wrong with this picture.
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