Micah Lee 🫡

@micahflee ↗

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Last Checked Nov. 7, 2022

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Mon Jul 20 02:32:05 +0000 2020

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Micah Lee 🫡 @micahflee

@tb_well @futral27 @StephanieKelton Foreign governments own a large percentage of US Treasuries, yes, but that's not the same as "debt" -- it's fundamentally different than, for example, a personal holding a mortgage, because the US creates the dollars and the treasuries. Btw did you read the Deficit Myth? — PolitiTweet.org

Posted July 20, 2020

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Micah Lee 🫡 @micahflee

@tb_well @futral27 @StephanieKelton The author is good at communicating ideas, and MMT seems to do a good job of describing what having a fiat currency actually means. If it's not actually descriptive of how currency issuers actually work, then I'd be curious to understand why you think that — PolitiTweet.org

Posted July 20, 2020

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Micah Lee 🫡 @micahflee

@tb_well @futral27 @StephanieKelton Yes, treasuries are not debt. If you have debt, it's possible for you to not have enough money and default. But the US has no risk of defaulting on its "debt" because as a currency issuer it's literally impossible for the US to go broke. Is this not true? — PolitiTweet.org

Posted July 20, 2020