And Now A Word From Your Intellectual Superiors …… Matt Yglesias Says Not To Freak Out About Our National Debt Because We Can Never Run Out Of Money

suyts space

There’s a short, but, incredibly vapid and naive video at the link. It’s fraught of errors, (the most obvious is confusing public debt with national debt), and erroneous thoughts on debt and inflation, all without noting the obvious bind we’re in.

The premise is that we shouldn’t worry about our debt because we can never run out of cash because we can print our own money.

The video also notes that the Fed has tools to fight inflation. But, what Matt is describing is an overheated economy. He notes that our “inflation” is near all time lows, but, fails to understand the errors in calculating inflation, and notes that interest rates are low. But, with low inflation and low interest rates, our economy is still in the crapper. Which is the corner we’ve painted ourselves in with our QE stimulus which has failed to stimulate anything.

Further, our debt can…

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