Minivan Man Tim (@youmans_tim) header
Minivan Man Tim (@youmans_tim) profile picture

I drive a minivan, and am interested in learning/sharing about #MMT. Not because economics is fun, but because the world is f***ed and we CAN do better.

Bryans Road, MD
Joined September 2017
Photo by Minivan Man Tim (@youmans_tim)Photo by Minivan Man Tim (@youmans_tim)Photo by Minivan Man Tim (@youmans_tim)Photo by Minivan Man Tim (@youmans_tim)Photo by Minivan Man Tim (@youmans_tim)Photo by Minivan Man Tim (@youmans_tim)Photo by Minivan Man Tim (@youmans_tim)Photo by Minivan Man Tim (@youmans_tim)
When over 50% of US bankruptcies are related to medical bills, and when a young man dies because his go fund me to purchase insulin fell 50$ short, it's time to change the question from "how are we going to pay for It" to "how can we afford not to". #Medicare4All #LearnMMT
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Fitting that I finally got to watch this film after completing my shift at the Bureau of Engraving and Printing where I was..well, printing money. Amazing film, and everyone who hasn't watched this, NEEDS to do so immediately.
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Real resource constraints..
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So we declare "victory" once people start making less money and losing their jobs? Gotcha..
Replying to @jasonfurman
Here are all the measures discussed above. Would be great to see two more months of good data like the last several months. Outside of these data the labor market still looks tight and nominal wage growth high. So no victory yet, but getting a lot closer.
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Why are so many people still frightened by the word "debt"? I thought by now more people would know better.. ALL money is debt! If you're afraid of the word "debt", you're afraid of the word "money" It's as silly as being afraid of the word puppies..or tacos.. Don't be silly!
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If it rains a lot, you obviously water your grass less often If you're balding, you obviously get fewer haircuts If our day to day lives are made easier because of technology, we obviously work more, raise the retirement age, or make the idea of retirement outright laughable
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If you want it to rain, just go outside in your underwear and sing 'Sweet Caroline'. If it doesn't work right away, just try again but sing it LOUDER! Eventually, it WILL work. Trust me. Also, if you want to bring down inflation, raise interest rates. If it doesn't work...
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Forget for a sec who has it "right", but the fact that the argument even exists that raising rates actually adds to inflation more than it relieves it should be enough - at the VERY least - to tell us with 100% certainty that interest rates are a s#!++y inflation management tool.
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So inflation is decelerating while unemployment is lower than it has been in 5 decades? But..HOW? It's almost like the two things have nothing to do with each other, but that obviously can't be the case..right? RIGHT?!
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Breakfast. Something we eat to break our fast. Breakfast. So why do we pronounce it "Breckfist"?
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I've noticed people using out of date slang words for "cool" to describe a shrinking unemployment rate.. "Hot" jobs report.. "Tight" labor market.. What would we call it if there was a guaranteed job for EVERYONE who wanted one? Dope? Wicked? Gnarly? On fleek? Lit? Rad? Sweet?
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I need futbal to be over before football starts! Come on Argentina!
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Printing money doesn't "cause inflation". Printing money can never be the "cause" of anything whatsoever. Printing money is simply done as a response to people wanting to hold cash, or to replace old and worn out bank notes. Stop saying "printing money causes inflation". Stop it.
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If you don't like the casting decisions of a TV show, you could always simply choose to not watch it instead of spending hours arguing with strangers on the internet about why they should share your opinion.
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And going with the zero effort route of simply not consuming a product you don't like can oftentimes make you look a lot less like a racist douche bag..
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"It's not like teachers get into teaching for the money" Yeah, they probably get into teaching to be glorified babysitters with Masters degrees who get treated like $#!+ by parents and school systems and have their performances judged by out of date ridiculous standardized tests
*opens Twitter -If you take out a loan, you PAY IT BACK! -Cancel student debt? What about MEEEE! -Cat picture -Cancel student debt? NOW INFLATION WILL KILL US ALL! 🤦‍♂️ *logs off Twitter
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The student debt "discussion" has done a good job of reminding me that a lot of people really suck.
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When the 3yr pause on #StudentDebt expires, borrowers will get a new bill (akin to a tax increase). Some will owe $10k less but they'll still pay more than they did in the past 3yrs. This will add to the existing fiscal drag on the economy. It cannot possibly be inflationary.
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2020- Payments paused on student debt ⚫️Nice! I better save though, it won't last forever! 2021- Still paused ⚫️Cool! Still saving! 2022- Still paused, 10-20K canceled ⚫️SWEEEET! TIME TO MAKE IT RAIN! LET'S LIGHT THIS $ ON 🔥AND FORCE THE FED TO HIKE US INTO A RECESSION!!
Student debt cancellation will: ⚫️ Cost $400 to $600 billion ⚫️ Wipe out Inflation Reduction Act savings twice over ⚫️ Add up to a quarter point to inflation ⚫️ Benefit MDs, JDs, and MBAs ⚫️ Drive up tuition costs ⚫️ Increase risk or recession Great job, folks.
So canceling student debt would make inflation worse now? Bull $#!+ People haven't had to pay these damn loans for 2 years. Canceling them would just mean they still don't have to pay them. Unless everyone is getting some big raise along with it, it would be neutral short term.
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