TRS: In the Counsel of Evil
Economists that pursue austerity are murderers.
People like Jason Furman and Larry Summers have killed thousands if not millions through austerity policies and they advise world leaders with these disgraceful, murderous policies and need to be called out for the death they breed.
#AusterityIsMurder
Austerity is Murder t-shirts:
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Transcript
All right everybody.
Steven Grumbine:It is Steve the Rogue Scholar, and folks, I still got a little bit of a frog.
Steven Grumbine:I can't help it.
Steven Grumbine:It's steroids has started weaning down, and I'm still a little
Steven Grumbine:We'll see how long it lasts.
Steven Grumbine:We'll see how long it lasts.
Steven Grumbine:But before we get into all this great socialist stuff and pointing out the
Steven Grumbine:Sorry.
Steven Grumbine:I know.
Steven Grumbine:Makes me scum.
Steven Grumbine:Makes me a bad guy.
Steven Grumbine:Don't listen to anything else I have to say.
Steven Grumbine:I love fucking football.
Steven Grumbine:All right, let's get to it.
Steven Grumbine:So if you notice the image that we use for our show today, that is our
Steven Grumbine:I believe this was from the two towers.
Steven Grumbine:It might have been the return of the King, end of two.
Steven Grumbine:I can't remember.
Steven Grumbine:Rodan, I think was the The kingdom.
Steven Grumbine:Any new event, the horse king, et cetera, and Gandalf and gang come
Steven Grumbine:And there's Grimma Wormtongue sitting there.
Steven Grumbine:Oh, surely your majesty, your greatness is oh, so wonderful.
Steven Grumbine:Look at the king, and the king is dying.
Steven Grumbine:He's a fricking corpse, practically.
Steven Grumbine:And there's the dude from the fricking exorcist looking just as normal as can
Steven Grumbine:And so to me, he represents
Steven Grumbine:the orthodoxy, he represents the economists.
Steven Grumbine:You think back to the movie 300 and you remember the mystics
Steven Grumbine:He climbs up to get their permission and they're like, you must give the,
Steven Grumbine:You must spin three times and pat your head and rub your belly.
Steven Grumbine:Whatever it is.
Steven Grumbine:They come up with all this bullshit right now.
Steven Grumbine:I went to a thing called Economists for Peace several times, but one in
Steven Grumbine:Bob Hockett was there.
Steven Grumbine:James Galbraith was there.
Steven Grumbine:Marshall Auerbach, Joe Weisenthal.
Steven Grumbine:A ton of big names were there.
Steven Grumbine:Lots and lots of big names.
Steven Grumbine:Even some names that, escape me at this point cause it was years ago.
Steven Grumbine:But inside there, there was a politician, his last name it was
Steven Grumbine:He had retired.
Steven Grumbine:He was no longer active, but what he talked about was how Congress is, and what
Steven Grumbine:They don't know what they're doing from one law to the next.
Steven Grumbine:They don't know what they're doing from one meeting to the next.
Steven Grumbine:They have staff that slips them little three by five index cards in between
Steven Grumbine:And here, don't forget to say this and here say that these people don't
Steven Grumbine:They're not prepared, they don't know they're handlers, are feeding
Steven Grumbine:Made a lot of things click in my head when I realized that.
Steven Grumbine:And he said, look, these people are not ideologically driven.
Steven Grumbine:For all the hubub out there, for all the fist in the air and the land of
Steven Grumbine:Okay.
Steven Grumbine:And that's including the politicians.
Steven Grumbine:Many of these people are, there is a, there's an old guard, there's a group of
Steven Grumbine:Either way, they're always, somehow or another still in the mix.
Steven Grumbine:And those few people that really know, they're pretty fucking evil.
Steven Grumbine:The rest of them are literally receiving help from grim, a worm tongue grim, a worm
Steven Grumbine:And so that brings me to a Harvard economist and that Harvard
Steven Grumbine:And let's, before I get into the Harvard Economist, I wanna talk
Steven Grumbine:She spoke specifically in the capital order about how
Steven Grumbine:There's a political problem.
Steven Grumbine:The political problem is we're losing control.
Steven Grumbine:The economists were there to create a solution to maintain the order,
Steven Grumbine:And these wretched disgraceful people, the worst society has to offer, had to find
Steven Grumbine:And this is going back to just going back to World War I in her book, but
Steven Grumbine:And that is Jason Furman.
Steven Grumbine:So let's share our screen here real quickly.
Steven Grumbine:Jason Furman.
Steven Grumbine:Now he's not the guy who wrote the thread.
Steven Grumbine:Let me just be clear.
Steven Grumbine:He's not the guy who wrote the thread, but he never misses a chance to take
Steven Grumbine:And by extension, never ever misses an opportunity to
Steven Grumbine:Sound like it's insane.
Steven Grumbine:His bullshit comment is nice thread in case you don't get
Steven Grumbine:Both crypto and mmt are hogwash but worth reading to understand why
Steven Grumbine:Now, bunch of us got in there.
Steven Grumbine:Straw man.
Steven Grumbine:Bingo.
Steven Grumbine:MMT is magic money printing.
Steven Grumbine:You know the magic money tree you could see there?
Steven Grumbine:Let's be fair folks.
Steven Grumbine:I'm gonna get away.
Steven Grumbine:wanna say this point blank.
Steven Grumbine:If you stand against modern monetary theory if you don't know
Steven Grumbine:If you ever saw the movie, if you ever saw the movie Enemy at the gates, you
Steven Grumbine:He Jeff, blah, blah, blah.
Steven Grumbine:It was Chris, Jeff, was it Chris?
Steven Grumbine:Jeff or was it, anyway, he says, I am so and and this
Steven Grumbine:And he looked at the general and he goes, hands him a gun.
Steven Grumbine:And he says, why don't you do us all a favor?
Steven Grumbine:The general shaken.
Steven Grumbine:He looks, he's like this.
Steven Grumbine:He goes into the room, shuts the door, and he's sitting there with his arms
Steven Grumbine:I don't wanna die for their bullshit, and I don't want my kids
Steven Grumbine:Let the people that are pushing austerity be the ones to pull the trigger.
Steven Grumbine:Let them be the ones to take themselves out.
Steven Grumbine:Stop taking everyone else out because austerity is murder.
Steven Grumbine:Most of you only recognize the murder.
Steven Grumbine:When we talk about a gun, that's the only gun you understand.
Steven Grumbine:You understand a knife, you understand a gun, but you don't
Steven Grumbine:Austerity literally is murder.
Steven Grumbine:By reducing interest, or excuse me, by increasing interest rates.
Steven Grumbine:They set the stage for making the cost of living higher.
Steven Grumbine:They set the wealth gap higher by giving money to the wealthy, and they create the
Steven Grumbine:And then they turn around and then they use the fiscal austerity
Steven Grumbine:They stop spending and all of a sudden it dries up and then people are
Steven Grumbine:I just wanna live the people that invented that mindset.
Steven Grumbine:It's not real.
Steven Grumbine:God didn't create it.
Steven Grumbine:It's not science, it's not, it's a fucking control mechanism
Steven Grumbine:And if you did that, if you're part of that, you have committed.
Steven Grumbine:Most people don't realize that's murder, but it is murder and we're
Steven Grumbine:We're not gonna allow anyone ever that wants to cut the deficit to get away
Steven Grumbine:They're a murderer.
Steven Grumbine:They're pushing for murder.
Steven Grumbine:I know this seems harsh, but you must understand that if we don't sound an alarm
Steven Grumbine:Any one of those, any one of those is an act of violence against the working class.
Steven Grumbine:Any one of those is an act of violence.
Steven Grumbine:I need you to normalize that.
Steven Grumbine:I need you to get that through your head.
Steven Grumbine:Stop thinking.
Steven Grumbine:The only way is some young black kid in the street with his pan with the
Steven Grumbine:That's what they want us to think.
Steven Grumbine:They want us to hate our neighbors.
Steven Grumbine:They want us to hate minorities.
Steven Grumbine:They want us to hate all these people.
Steven Grumbine:But the reality is, it's these rich fox in elite schools that
Steven Grumbine:And of course, they're above reproach.
Steven Grumbine:Of course, these people are the ones, and if you could bring pitchforks and
Steven Grumbine:See, if you think that the only people that are killing people are those
Steven Grumbine:They're the ones killing the most people.
Steven Grumbine:They're the ones that suggest to do austerity.
Steven Grumbine:They're the ones that suggest sanctions on other countries.
Steven Grumbine:They're the ones that suggest these things.
Steven Grumbine:They're the ones that are doing the actual grim of worm tongue.
Steven Grumbine:They're in the king's ear.
Steven Grumbine:They're the ones setting the stuff up.
Steven Grumbine:And remember, most likely the king doesn't know his ass from his elbow.
Steven Grumbine:So if the king doesn't know his ass from his elbow, how what?
Steven Grumbine:We have to isolate the problem.
Steven Grumbine:And the problem is Orthodox economics.
Steven Grumbine:Orthodox economics, and the purveyors of economics.
Steven Grumbine:Yes, Larry Summers, Paul Krugman.
Steven Grumbine:All these people are wickedly evil people.
Steven Grumbine:Kamaal wickedly evil people.
Steven Grumbine:Wickedly evil people.
Steven Grumbine:So let's go into this tweet storm here.
Steven Grumbine:Let's make sure we read it.
Steven Grumbine:Let's talk about through some of these are the MMT community
Steven Grumbine:Furman Charles Hayden.
Steven Grumbine:You sound like a Trump voter talking about C rt.
Steven Grumbine:Why don't you put MMT in its place in a debate with Warren or Stephanie
Steven Grumbine:It's like he would never debate anyone competent in mmt.
Steven Grumbine:He would look like a complete idiot.
Steven Grumbine:I will deter, delete my Twitter if he debates Warren, Stephanie Randall,
Steven Grumbine:That's all he is got.
Steven Grumbine:And of course it ain't what you know that gets you in trouble.
Steven Grumbine:It's what you know for sure.
Steven Grumbine:Now see what is missing here.
Steven Grumbine:Let me just be honest.
Steven Grumbine:With all due respect to all my friends and all these folks are friends, clearly
Steven Grumbine:They're rp, many of 'em.
Steven Grumbine:And we come in droves.
Steven Grumbine:Okay?
Steven Grumbine:And it's like there should be a rule that people that have to define mmt before
Steven Grumbine:Anyway, whatever you see the point, it's out here.
Steven Grumbine:All sorts of stuff.
Steven Grumbine:There's something invigorating about people freaking about mmt.
Steven Grumbine:They treat MMT akin to the arc of the covenant in the first Indiana Jones movie.
Steven Grumbine:They're petrified that knowledge of the financial equivalent of the Holy of
Steven Grumbine:For at least a century folks right there, that much of the financial
Steven Grumbine:They know this stuff, they know it.
Steven Grumbine:And here's what I said to dear Mr.
Steven Grumbine:Furman.
Steven Grumbine:Said, dear God, Jason Furman, A man paid to ensure austerity rules Blas
Steven Grumbine:You are a practitioner of austerity that makes you sir a murderer.
Steven Grumbine:Okay, now this is him just repeating this idiot.
Steven Grumbine:So let's go to this idiot, Atif.
Steven Grumbine:Okay.
Steven Grumbine:On the connection between crypto and MMT and what tells us about money and
Steven Grumbine:The MMT bandwagon was about the opposite.
Steven Grumbine:We can have a utopian world as long as there's a centralized
Steven Grumbine:We already have it.
Steven Grumbine:Fucker.
Steven Grumbine:Both were hogwash.
Steven Grumbine:Look at this guy.
Steven Grumbine:Let me ask you a question.
Steven Grumbine:Let me ask you a quick question.
Steven Grumbine:How long do you think that guy could hold up in a cage match with somebody
Steven Grumbine:How long do you think he would survive in a locked room?
Steven Grumbine:Look at him.
Steven Grumbine:He's pathetic.
Steven Grumbine:His just Wim amplified.
Steven Grumbine:This is a person who kills people with their idiocy.
Steven Grumbine:So imagine if the people that he is putting in harm's way had an opportunity
Steven Grumbine:I think people like this take it for granted that will just assume that it's
Steven Grumbine:He comes in both as hogwash.
Steven Grumbine:Money is a public good.
Steven Grumbine:Rather than a public trust.
Steven Grumbine:I don't think that's true at all and should remain as such.
Steven Grumbine:There is much we can benefit from if we can manage money properly at
Steven Grumbine:Think Zimbabwe, Turkey.
Steven Grumbine:See, this is the idiocy.
Steven Grumbine:Let me stop there.
Steven Grumbine:Let's start right there.
Steven Grumbine:Let's start right there.
Steven Grumbine:This right here, this guy right here is literally telling you that he
Steven Grumbine:He's literally telling you, Zimbabwe.
Steven Grumbine:Let's talk about Zimbabwe for a minute, just for a second.
Steven Grumbine:Zimbabwe, you had a civil war going on.
Steven Grumbine:You had the lands, the farm lands that were owned by the colonizers that
Steven Grumbine:They knew how to produce food.
Steven Grumbine:They knew how to produce grains and all the other things that they needed to do.
Steven Grumbine:They were good farmers.
Steven Grumbine:Moab took all the farmland.
Steven Grumbine:Good for you.
Steven Grumbine:Moab took it away from the colonizers.
Steven Grumbine:And on the way out the door, the colonizers threw a torch in the
Steven Grumbine:The villagers and everything were warriors.
Steven Grumbine:They were not skilled farmers, so not only did they lose the fields behind
Steven Grumbine:So they lost their food sovereignty.
Steven Grumbine:So in order for them to survive, they had to take on foreign debt.
Steven Grumbine:See how this plays out?
Steven Grumbine:Debt denominated in a foreign currency, they could have printed a million
Steven Grumbine:Payable not in Zimbabwean dollars, but in foreign reserves that they didn't have.
Steven Grumbine:So let's get back to this.
Steven Grumbine:Ask Crystal.
Steven Grumbine:This sucker, this piece of shit, okay?
Steven Grumbine:That literally is privileged but doesn't know any, but he's out
Steven Grumbine:The reality about money is that there's sometimes you have to keep
Steven Grumbine:No, Al algorithm can figure this out just like a cancer.
Steven Grumbine:So let's talk about that for a minute.
Steven Grumbine:Let's really talk about that for a minute.
Steven Grumbine:Money does not cause inflation, period.
Steven Grumbine:There is disgraceful, disgusting, murderous, horrific losers that
Steven Grumbine:They think that the amount of money in the economy creates inflation or deflation.
Steven Grumbine:The fact of the matter is that if I give one person $1 trillion, They're
Steven Grumbine:They're either gonna put it in some sort of fund, they're gonna
Steven Grumbine:They're gonna do something.
Steven Grumbine:There's only so much money that they can spend to that 1 trillion
Steven Grumbine:Okay, you and I, if they took that 1 trillion and they gave it to all
Steven Grumbine:Now what you have is a situation where every single person has
Steven Grumbine:Now, if production hasn't kept up to allow 350 million people
Steven Grumbine:There is going to be scarcity and no amount of dollars is going to
Steven Grumbine:It's gonna be a competition for a very scarce reason.
Steven Grumbine:People are like, think about it like this.
Steven Grumbine:Pretend like it's Grateful Dead Tickets or Dead and Company, the list Price on
Steven Grumbine:Some Snapper Head camps out for a week, buys 20 tickets, goes out and sells
Steven Grumbine:Is the ticket suddenly worth a thousand?
Steven Grumbine:It's worth a thousand dollars because everybody wants to go, but
Steven Grumbine:So they drive that up, right?
Steven Grumbine:Think about Christmas.
Steven Grumbine:You got the paper.
Steven Grumbine:It's oh my God.
Steven Grumbine:The new PlayStation five is coming up for Christmas.
Steven Grumbine:Best Buy has got a midnight special.
Steven Grumbine:If you camp out, you can buy a min, a maximum of two of 'em, right?
Steven Grumbine:So the whole family stays out and each one has their own credit card and they
Steven Grumbine:They go home and they sell these things that were sold for 500 at the store.
Steven Grumbine:They now sell them for $1,500 each, and they get it.
Steven Grumbine:Why?
Steven Grumbine:Because there's not enough PlayStation fives and everybody wants one.
Steven Grumbine:Okay?
Steven Grumbine:So this is driving up the cost, but it's not a matter of the amount of money.
Steven Grumbine:It's a matter of everyone being able to exact it and is their productive
Steven Grumbine:Okay?
Steven Grumbine:So understand this.
Steven Grumbine:MMT will tell you the limits of spending our inflation, but I'm here to tell
Steven Grumbine:How do you explain.
Steven Grumbine:Record profits, meaning after costs, after employee salaries, after whatever else,
Steven Grumbine:How do you explain Amazon with 333% profit increase during the pandemic.
Steven Grumbine:That's not sales increase, that's profit increase.
Steven Grumbine:And then say we've got an inflation problem.
Steven Grumbine:I want you to think about what I'm saying.
Steven Grumbine:Inflation is the persistent rise in all prices.
Steven Grumbine:The rise in one price or the rise in another price is what
Steven Grumbine:Inflation though is the persistent rise of all prices.
Steven Grumbine:Okay, so let's get some terminology.
Steven Grumbine:So could you see a relative value story in the housing market?
Steven Grumbine:Yes.
Steven Grumbine:Why?
Steven Grumbine:Let's look at the number of houses available.
Steven Grumbine:Let's look at the price.
Steven Grumbine:Let's look at the interest rates, et cetera.
Steven Grumbine:Point is all these things are being said.
Steven Grumbine:To limit, it sounds so logical that we limit the amount of money into the
Steven Grumbine:In fact, Milton Friedman more specifically said, all inflation is created by
Steven Grumbine:Let me tell you where he's slightly right and where he is way wrong.
Steven Grumbine:The government being the monopoly issuer of the currency doesn't print money,
Steven Grumbine:That's how money gets created.
Steven Grumbine:It doesn't get created, Hey, print up the money, Charlie.
Steven Grumbine:We gotta put them on pallets and take them to the bank and then we'll use them.
Steven Grumbine:Then we'll spend them.
Steven Grumbine:Yeah.
Steven Grumbine:That's what the dumb fucks say, right?
Steven Grumbine:Yeah.
Steven Grumbine:The dumb fucks say that shit.
Steven Grumbine:They're printing money.
Steven Grumbine:Yeah.
Steven Grumbine:Fucking dumb fucks, right?
Steven Grumbine:You stupid guy, don't you printing money?
Steven Grumbine:Yeah.
Steven Grumbine:That shit, right?
Steven Grumbine:That's not how it works.
Steven Grumbine:Okay, and so this is the other shit these fucking knuckleheads say.
Steven Grumbine:However, when you receive it back as a tax, we know fundamentally
Steven Grumbine:It's wiped out.
Steven Grumbine:It's done.
Steven Grumbine:Okay?
Steven Grumbine:Money spent into the economy.
Steven Grumbine:A reserve is tallied on the other side of the ledger.
Steven Grumbine:When a taxes come back, a reserve is eliminated.
Steven Grumbine:It zeros out.
Steven Grumbine:Game set match.
Steven Grumbine:Obviously we have this treasury general account that they have a nuera to say,
Steven Grumbine:We can't have an overdraft, so we always gotta have money going into tga.
Steven Grumbine:Treasuries general account, stop.
Steven Grumbine:It's bullshit.
Steven Grumbine:It's like the Social Security Trust fund.
Steven Grumbine:It's that.
Steven Grumbine:Okay, so they use these tools to try and baffle you with bullshit to
Steven Grumbine:That the amount of money in there is debasing, a baseless currency.
Steven Grumbine:Imagine these people.
Steven Grumbine:Imagine being so worthless to think that you can debase a freeloaded currency.
Steven Grumbine:How do you debase a currency that has no base?
Steven Grumbine:You would have to be worthless to say that, right?
Steven Grumbine:Worthless, because in the end what we're talking about really is they've
Steven Grumbine:Okay, now let's get back to our dude here.
Steven Grumbine:Let's get back to our guy.
Steven Grumbine:He's got a lot of things to say.
Steven Grumbine:We already addressed this whole thing.
Steven Grumbine:To have a civilized society, we need to come up with a system of selects,
Steven Grumbine:Here's the conservative here.
Steven Grumbine:He con competent, upright individuals who will govern until the term ends
Steven Grumbine:We have to make it work.
Steven Grumbine:Sat tashi.
Steven Grumbine:Namaka cannot do it for us.
Steven Grumbine:Let's come to mmt or rather public finance now.
Steven Grumbine:If we can manage our collective money, manage a collective money.
Steven Grumbine:There's a prize that we can all share.
Steven Grumbine:And what's the prize simply?
Steven Grumbine:We can convince people to hand us their apples and oranges and
Steven Grumbine:In return for a piece of paper, the piece of paper suddenly has value.
Steven Grumbine:You are a fucking moron.
Steven Grumbine:Moron.
Steven Grumbine:Moron.
Steven Grumbine:Okay.
Steven Grumbine:I dunno how many times we have to tell the fucking money story.
Steven Grumbine:The importance of the money story.
Steven Grumbine:When the king
Steven Grumbine:decides that he wants to have a standing army, or the king decides he
Steven Grumbine:People say, nah, I don't really feel like doing it.
Steven Grumbine:King goes, I'll give you a gold coin if you do it.
Steven Grumbine:The guy goes, how am I gonna do with a gold coin?
Steven Grumbine:I don't need your gold coin.
Steven Grumbine:King's shit, you gotta point, how can we change that?
Steven Grumbine:I know.
Steven Grumbine:Tell you what brother?
Steven Grumbine:I'll let you keep your house, but you gotta give me 10 gold coins with
Steven Grumbine:The guy goes, holy shit.
Steven Grumbine:How do I get ahold of those coins?
Steven Grumbine:He's ha, thanks for asking.
Steven Grumbine:See, I have these things that have to be done.
Steven Grumbine:I have these things.
Steven Grumbine:I need a aqueduct, I need a standing army.
Steven Grumbine:I need.
Steven Grumbine:And I'll give you 20 gold coins if you do this for me.
Steven Grumbine:It's great man, I'll have extra and I can pay the thing so I don't lose my house.
Steven Grumbine:That sounds great.
Steven Grumbine:They're like, shit.
Steven Grumbine:Yeah.
Steven Grumbine:Okay, so we've got all the mileage we can get outta the house now what
Steven Grumbine:Or maybe we institute a tax because we wanna stop them from doing something.
Steven Grumbine:Okay.
Steven Grumbine:So we call that a pian syntax.
Steven Grumbine:So we do that.
Steven Grumbine:But none of this is a funding thing.
Steven Grumbine:The king is giving the gold coins that he created, that he owns to the people
Steven Grumbine:Okay.
Steven Grumbine:But he's not giving them these coins because he needs them back.
Steven Grumbine:Cuz Oh my god.
Steven Grumbine:Whatever will I do without the gold coins, he's giving it to 'em
Steven Grumbine:That course of tax is what drives the market.
Steven Grumbine:Creates the market.
Steven Grumbine:It's not about your faith in the dollar, it's about your desire to stay outta jail
Steven Grumbine:In the end, that's what creates the scenario.
Steven Grumbine:It's very unfortunate that people have worthlessly reduced it to
Steven Grumbine:Tell me what you're gonna pay your tax in.
Steven Grumbine:Do you gonna pay your tax in faith?
Steven Grumbine:Are you gonna pay it in songbirds, chicken necks, sexual favors?
Steven Grumbine:What are you gonna pay them in?
Steven Grumbine:The only thing they want is your US dollars.
Steven Grumbine:They don't want Chinese, they don't want Japanese, they don't want the pound.
Steven Grumbine:They don't want nothing.
Steven Grumbine:They want US dollars.
Steven Grumbine:Why do you think the government that creates the currency out
Steven Grumbine:Oh my God, whatever will we do without the people's money, they don't care.
Steven Grumbine:It's deleted folks.
Steven Grumbine:They need you to need it.
Steven Grumbine:That's why they impose the tax.
Steven Grumbine:The tax serves as a social control.
Steven Grumbine:It serves as a means of allowing the government to provision itself
Steven Grumbine:It's that simple.
Steven Grumbine:It's that simple.
Steven Grumbine:So let's get back to Snapper head here.
Steven Grumbine:So he says, and when money is run well, so it has value, government
Steven Grumbine:Yes, it is true, but we've always, this is the idiot folks.
Steven Grumbine:This man is a cancer.
Steven Grumbine:He's a cancer.
Steven Grumbine:Look at this.
Steven Grumbine:This is the dumbest fucking thing I have ever seen in my life.
Steven Grumbine:Re read that.
Steven Grumbine:And when money is run well, so it has value.
Steven Grumbine:You just can't make this stuff up.
Steven Grumbine:This guy is just it, just horrible, evil.
Steven Grumbine:He's not misguided.
Steven Grumbine:He's not misguided at all folks.
Steven Grumbine:He's not misguided in the least.
Steven Grumbine:He knows precisely what he's saying.
Steven Grumbine:He knows precisely what he's saying.
Steven Grumbine:And as a result of this, as a result of this, you go back here and there he is.
Steven Grumbine:Whispering in the ears of kings, whispering in the ears of students.
Steven Grumbine:Whispering in the ears of Twitter has huge following.
Steven Grumbine:Huge following.
Steven Grumbine:Let's look at his following.
Steven Grumbine:Huge being relative, but look, homeboy Bonanza has got 137,000
Steven Grumbine:Princeton.
Steven Grumbine:Princeton.
Steven Grumbine:Look at this.
Steven Grumbine:This is a gentleman right here that genuinely, I don't know
Steven Grumbine:I can only know that he's an, he's a gentleman that does not understand
Steven Grumbine:But guys like Jason Furman and him are in the ears of all these people.
Steven Grumbine:All these people that run policy, and this is how the capital order
Steven Grumbine:Sometimes we have to tighten monetary policy and of, and you know what?
Steven Grumbine:There are times where it makes sense because of an import export type
Steven Grumbine:These are all tools, but the idea that there's we can only spend
Steven Grumbine:The deficit's too damn low.
Steven Grumbine:It's a distributional problem.
Steven Grumbine:Remember if the rich have got god zillions of dollars and the champagne
Steven Grumbine:Imagine.
Steven Grumbine:Being an academic at Princeton or Harvard, imagine being an
Steven Grumbine:Talking to a world of people that are one decision away from losing
Steven Grumbine:We're gonna have to tighten our belts.
Steven Grumbine:These guys are the evil.
Steven Grumbine:They are the evil.
Steven Grumbine:They're not misguided.
Steven Grumbine:Don't let any tone, police, don't let any kind of perverse sensitive person
Steven Grumbine:These people are evil and they know what they're pushing is austerity.
Steven Grumbine:They know they're doing it.
Steven Grumbine:And when you lose your job, Twitter lays off 10,000 people and Amazon with
Steven Grumbine:It's just a price to pay man.
Steven Grumbine:Should have made better choices.
Steven Grumbine:Should have made better choices,
Steven Grumbine:should have made better choices.
Steven Grumbine:I'm serious.
Steven Grumbine:I wonder if these guys were not isolated in the ivory tower, if they were forced
Steven Grumbine:I wonder how they'd fair.
Steven Grumbine:I think we keep pointing at the wrong people.
Steven Grumbine:I think we need to be looking at them.
Steven Grumbine:Their profession demands.
Steven Grumbine:The capital order stays intact.
Steven Grumbine:Their profession demands that they be the purveyors of
Steven Grumbine:And if you continue to believe that the only way death occurs is via a gun
Steven Grumbine:If you don't recognize that, you may miss the most important battle of our lives.
Steven Grumbine:Okay?
Steven Grumbine:These guys advise aoc, they advise Rashida to leave.
Steven Grumbine:They advise Ellen Omar.
Steven Grumbine:They advise all these folks, the Democrats, Joe Biden, all these people.
Steven Grumbine:The right wing has even worse, crazy people involved in their
Steven Grumbine:Are literally advised by these people.
Steven Grumbine:They can't answer any of the questions.
Steven Grumbine:They just say things and they think that because you believe it institutionally,
Steven Grumbine:That you'll just take it as, oh of course it makes sense.
Steven Grumbine:Of course it makes sense.
Steven Grumbine:Who's to argue with conventional wisdom?
Steven Grumbine:Who's to argue with that?
Steven Grumbine:So I look at this and I say to myself, unless I get you all to begin really
Steven Grumbine:You didn't know it, you didn't realize you are the, you're the
Steven Grumbine:Oh, we, oh, by the way, we have MMT folks that are.
Steven Grumbine:Absolutely advising folks.
Steven Grumbine:The problem is that the orthodoxy is powerful.
Steven Grumbine:The orthodoxy didn't come to power without violence.
Steven Grumbine:Orthodox economics is about violence, it's about oppression.
Steven Grumbine:It's about ensuring the order stays intact.
Steven Grumbine:It's class war.
Steven Grumbine:It's about ensuring that no matter how many bad mistakes the rich make,
Steven Grumbine:This is not by accident in any way, shape or form.
Steven Grumbine:This is what they're there to do and all the people that are crushed by
Steven Grumbine:Not that you need to normalize that it's murder.
Steven Grumbine:You need to normalize.
Steven Grumbine:You need to talk to your friends about these economists that are pushing
Steven Grumbine:Don't fucking downplay that.
Steven Grumbine:They're literally trying to make your life hell to entrench
Steven Grumbine:So there's a lot of gentlemanly people out there that won't say This stuff is murder.
Steven Grumbine:I don't know why.
Steven Grumbine:I don't know what they gain from it.
Steven Grumbine:Whether they wanna still be able to go out to dinner with these people at five
Steven Grumbine:These people are murderers.
Steven Grumbine:They're killing people.
Steven Grumbine:Their recommendations for how to clear markets in the global south
Steven Grumbine:You've seen what we do when we need real resources instead of handling our
Steven Grumbine:There's millions of Middle Easterners dead in pursuit of these kinds
Steven Grumbine:The austerity narrative is powerful.
Steven Grumbine:That's why everyone, and I've talked about this before, and Clara Matay talks
Steven Grumbine:Austerity is meant to entrench the capital class period, to entrench it,
Steven Grumbine:No, we're not getting sold in shadow slavery.
Steven Grumbine:Now what we're doing is we're in an open air prison of the same variety and
Steven Grumbine:So I know that we've got a lot of sensitive people that don't like
Steven Grumbine:Sometimes you've gotta be the one because everybody else is sleepwalking folks.
Steven Grumbine:They're bumping into walls.
Steven Grumbine:Eight bits though.
Steven Grumbine:What did you say?
Steven Grumbine:It's clueless.
Steven Grumbine:If you have the knowledge, you must wake them.
Steven Grumbine:See, for years I've taught though MMT is a state, public monopoly.
Steven Grumbine:It's a creature of law.
Steven Grumbine:It's is that we've talked about it extensively.
Steven Grumbine:The extent.
Steven Grumbine:Hey Joel, put that austerity murder t-shirt out there.
Steven Grumbine:You're out there.
Steven Grumbine:Please somebody put that austerity murder.
Steven Grumbine:I have it somewhere.
Steven Grumbine:I'll get it out there to you cuz it's awesome.
Steven Grumbine:I love it.
Steven Grumbine:But I want you to be aware, serious.
Steven Grumbine:When these people start talking Obama, I want you to think about Obama.
Steven Grumbine:We gotta eat our peas.
Steven Grumbine:We gotta tighten our belts.
Steven Grumbine:Austerity.
Steven Grumbine:Immediate austerity.
Steven Grumbine:Okay, austerity.
Steven Grumbine:If you understand that, bill Clinton, we gotta make government efficient.
Steven Grumbine:We're gonna build a bridge to a new tomorrow.
Steven Grumbine:Yeah, we're gonna redefine government.
Steven Grumbine:We're gonna put a lifetime cap on welfare.
Steven Grumbine:Five.
Steven Grumbine:Five years.
Steven Grumbine:We're gonna make it hard for single moms.
Steven Grumbine:We're gonna balance a budget, we're gonna have a surplus.
Steven Grumbine:And all the Democrats went who?
Steven Grumbine:Bill Clinton had a surplus and W spent the surplus away.
Steven Grumbine:Fucking you Imagine.
Steven Grumbine:What kind of moron kinda worthless Fuck would say.
Steven Grumbine:Phil Clinton took more money out of the economy, ended automatic
Steven Grumbine:Made life hell.
Steven Grumbine:Joe Biden made filing bankruptcy almost impossible, made eliminating student debt.
Steven Grumbine:Almost impossible.
Steven Grumbine:That's austerity.
Steven Grumbine:And what's worse is you see every vote, blue sick affair running around.
Steven Grumbine:We need Democrats in office cuz they're the only ones
Steven Grumbine:They'll reduce the deficit.
Steven Grumbine:Imagine.
Steven Grumbine:Imagine being that person that's swayed by that disgraceful thinking.
Steven Grumbine:Imagine being that person and thinking that's okay.
Steven Grumbine:It's like
Steven Grumbine:imagine it.
Steven Grumbine:Imagine.
Steven Grumbine:Celebrating Bill Clinton.
Steven Grumbine:Reducing the deficit, eliminating well, going after the welfare queens.
Steven Grumbine:Imagine that.
Steven Grumbine:E it.
Steven Grumbine:Once you understand that, if you can look at them in the same way as good people,
Steven Grumbine:It's just misogyny?
Steven Grumbine:It's just misogyny.
Steven Grumbine:If you don't like Hillary, although she said, I'm gonna follow Bill's
Steven Grumbine:I'm gonna ship the jobs outside the United States.
Steven Grumbine:I'm then in turn gonna turn it into service economy, and then I'm gonna
Steven Grumbine:If you could celebrate that, you're sicker than the Republicans,
Steven Grumbine:You're a perverted person, you're gross.
Steven Grumbine:I'm not giving people passes for being misguided anymore.
Steven Grumbine:I'm.
Steven Grumbine:I'm not giving them passes anymore.
Steven Grumbine:I have not seen it benefit us at all.
Steven Grumbine:I have not seen any of giving them the benefit of the doubt
Steven Grumbine:I have not seen any evidence.
Steven Grumbine:All the gentleman's club out there dealing with this guy.
Steven Grumbine:These people, okay?
Steven Grumbine:The Jason Furmans of the world, right?
Steven Grumbine:My god, here, let's get back to Furman here.
Steven Grumbine:Now that you know what, nice thread in case you don't get
Steven Grumbine:So once we get into that and we just recognize how bad this whole thing
Steven Grumbine:Many of them are just fist in the air, in the land of hypocrisy, getting
Steven Grumbine:Think about this Congress, article one, section eight says, Congress
Steven Grumbine:Imagine electing a Congress critter that doesn't understand modern monetary
Steven Grumbine:Imagine
Steven Grumbine:So when these advisors come through and they tell these people these things,
Steven Grumbine:when you understand that, when you see guys like this come up and you realize
Steven Grumbine:Imagine being so party devoted that you can't think for yourself.
Steven Grumbine:Imagine being so completely and utterly blocked from reality that all you care
Steven Grumbine:How many fingers am I holding up Winston for four.
Steven Grumbine:No, Winston, whatever the party tells you, if the party tells you it's three.
Steven Grumbine:If it tells you it's five.
Steven Grumbine:Whatever the party tells you, we tell you it was Russian bombs.
Steven Grumbine:That it was Russian bombs.
Steven Grumbine:Even if it was Ukraine, we're gonna tell them that.
Steven Grumbine:Just the party said, we
Steven Grumbine:imagine.
Steven Grumbine:Imagine that.
Steven Grumbine:So we've got several battles going on.
Steven Grumbine:We've got the rank and file that support austerity unknowingly.
Steven Grumbine:We've got the politicians who support austerity unknowingly get into office.
Steven Grumbine:Their regular people don't know their ass from their elbow.
Steven Grumbine:They don't know, they have no idea.
Steven Grumbine:But damnit, they're loud and proud and they're in office.
Steven Grumbine:And then you got the old timers that really do know, and you've
Steven Grumbine:I'm telling you, economists, neoclassical, Orthodox economists are the devil.
Steven Grumbine:They were the problem lies.
Steven Grumbine:They are the ones that are doing this.
Steven Grumbine:And then they work hand in glove with a media that's not trained either.
Steven Grumbine:A media that's just trying to get a story out the door.
Steven Grumbine:Who has a if you remember, I did a interview with a journalist
Steven Grumbine:And she talked about the fact that most of these writers don't
Steven Grumbine:They've got deadlines, they've got editors, they've got other people
Steven Grumbine:So the publishing of mainstream media for these narratives is atrocious,
Steven Grumbine:Think about this.
Steven Grumbine:Jeremy Corbin couldn't economic his way out of a paper bag, but he's a socialist.
Steven Grumbine:So you're caught in this weird pickle.
Steven Grumbine:He's fighting for labor.
Steven Grumbine:He's an idiot when it comes to economics.
Steven Grumbine:Now, if you're smart and you're not an asshole, that just like I love
Steven Grumbine:He doesn't know economics.
Steven Grumbine:He's got the right sensibilities, but he always comes back.
Steven Grumbine:His answer is always the taxpayer dollar, all the old sound finance,
Steven Grumbine:On one hand, he's saying these revolutionary things while
Steven Grumbine:Really hying and pushing austerity.
Steven Grumbine:Bernie Sanders, we're gonna have a Wall Street speculation talks.
Steven Grumbine:All right, let's talk about that for a minute.
Steven Grumbine:Bernie Sanders was around Stephanie Kelton forever.
Steven Grumbine:His wife, Jane Sanders knows Mmt brother Larry out there.
Steven Grumbine:Greens from e UK knows mmt.
Steven Grumbine:Bernie has built a life around careful messaging.
Steven Grumbine:Unfortunately, Bernie never fully openly embraced mmt, though.
Steven Grumbine:He gave Stephanie run of the land.
Steven Grumbine:But when it came down to it, he would always say, we're gonna
Steven Grumbine:Let's talk about that.
Steven Grumbine:Wall Street speculation.
Steven Grumbine:If your goal is to curb speculation, you'll put a tax on, it's
Steven Grumbine:The goal is not to raise funds from a pian tax.
Steven Grumbine:The goal is, in fact, to change a behavior.
Steven Grumbine:So once you put a pian tax on Wall Street speculation, now all of a sudden the
Steven Grumbine:Once you curb Wall Street speculation, what does that do to the revenue stream?
Steven Grumbine:If you're trying to fund a project via a pian tax your revenue drains
Steven Grumbine:You're not trying to fund a program.
Steven Grumbine:Programs are all self-funding.
Steven Grumbine:Every single solitary program, including the military, including
Steven Grumbine:It is self-fund.
Steven Grumbine:The government doesn't collect revenue to spend.
Steven Grumbine:It collects revenue to keep you needing the demand for that currency.
Steven Grumbine:So when you talk about making things harder, what is the point?
Steven Grumbine:It's a batter of social control over you and I.
Steven Grumbine:It's when the great resignation happened, what happened?
Steven Grumbine:People had a little bit of extra and they decided they didn't
Steven Grumbine:They didn't wanna do the do.
Steven Grumbine:They wanted off the hamster wheel.
Steven Grumbine:Thes couldn't have that.
Steven Grumbine:They needed to degenerate a recession to force people back to work.
Steven Grumbine:This is austerity.
Steven Grumbine:This is what they do.
Steven Grumbine:And so when you see these guys.
Steven Grumbine:Who are actively pushing austerity like Jason Furman.
Steven Grumbine:It's important to understand.
Steven Grumbine:Very important to understand.
Steven Grumbine:He's not ignorant.
Steven Grumbine:He knows it's malevolent, it's murder.
Steven Grumbine:So how do you message that to people whose ears burn Whenever
Steven Grumbine:I don't know.
Steven Grumbine:For me personally, I'm repulsed by people that get offended by harsh language.
Steven Grumbine:I find them to be repulsive in their own way.
Steven Grumbine:I find them to be Karens.
Steven Grumbine:I find them to be, can I talk to your manager?
Steven Grumbine:I find them to be the polite police that literally crush the suffering
Steven Grumbine:Okay?
Steven Grumbine:I despise the polite police, the tone police despise them.
Steven Grumbine:Because they silence the alarm.
Steven Grumbine:They blunt the instrument, they dull the tip of the spear, and they're
Steven Grumbine:I want you to think about that.
Steven Grumbine:Now, I want you to think about something else too, in this process, because the
Steven Grumbine:It has a different set of rules than the currency users who receive
Steven Grumbine:So when you look at a state, you've gotta be able to manage
Steven Grumbine:Almost all states, I think one Connecticut, I believe it is, doesn't
Steven Grumbine:It's the only one.
Steven Grumbine:Every other one has to.
Steven Grumbine:So these governors, these municipalities, they either have to really be great
Steven Grumbine:Layoffs, reduce services, tax increases, you name it.
Steven Grumbine:All right, my voice is given out on me.
Steven Grumbine:I'm gonna leave it open.
Steven Grumbine:I know there was a bunch of super chats, so I'm gonna go through
Steven Grumbine:Let me just say point blank.
Steven Grumbine:Thank you all for all your great support.
Steven Grumbine:I really hope you guys are getting something from these shows.
Steven Grumbine:I'm trying to make them interest.
Steven Grumbine:I am intentionally being strident.
Steven Grumbine:I'm intentionally being harsh to try to make the point do
Steven Grumbine:A hundred percent.
Steven Grumbine:I believe these people are evil murderers.
Steven Grumbine:I'm not lying.
Steven Grumbine:That's not hyperbole in any way, shape, or form.
Steven Grumbine:But I'm gonna go ahead and share these super chats cuz I
Steven Grumbine:We need them very much.
Steven Grumbine:We need people to become monthly donors too.
Steven Grumbine:Thank you Double K for the super chat.
Steven Grumbine:1999 and coming through here we got Mark Fabian.
Steven Grumbine:He says the last person we hang will be the one who sold us the rope.
Steven Grumbine:Carl Marks.
Steven Grumbine:And then we've got another double K.
Steven Grumbine:Thank you so much.
Steven Grumbine:Once again, double K as we scroll through.
Steven Grumbine:Let's see.
Steven Grumbine:Okay.
Steven Grumbine:I know there was more.
Steven Grumbine:Yes, there's Kate.
Steven Grumbine:Cat, Faye Garrett.
Steven Grumbine:Thank you.
Steven Grumbine:Steve is bringing the laughs to austerity, economics and mmt.
Steven Grumbine:I hope you're feeling better, Steve.
Steven Grumbine:Thank you.
Steven Grumbine:I hope I am too because this is getting annoying.
Steven Grumbine:Double K again, my God snapper head.
Steven Grumbine:Love it.
Steven Grumbine:Yes.
Steven Grumbine:I got a million chuckled nicknames.
Steven Grumbine:Trust me.
Steven Grumbine:Keep going.
Steven Grumbine:I'm a sucker for Super Chats and I'm not gonna lie, I will read them out
Steven Grumbine:Here's a bunch of stuff.
Steven Grumbine:Don't forget to get the austerity is Murder t-shirt.
Steven Grumbine:You can find the link in the live chat.
Steven Grumbine:Make sure we get that out there.
Steven Grumbine:Alright, I think we're getting to the end.
Steven Grumbine:My goodness.
Steven Grumbine:There's a lot of comments.
Steven Grumbine:I love it.
Steven Grumbine:All right.
Steven Grumbine:With that in mind, it's getting close to lunchtime.
Steven Grumbine:I've got, or excuse me, getting back to work time.
Steven Grumbine:I really hope that you guys are getting something from this.
Steven Grumbine:I genuinely do.
Steven Grumbine:I know it's hard.
Steven Grumbine:Some of the stuff is hard.
Steven Grumbine:Some of the stuff I've come up with synthesizing from other people,
Steven Grumbine:Maybe it's original, I don't take any claim to original content and other
Steven Grumbine:My assessment of this about it being murder, though I believe that it's known,
Steven Grumbine:I'm ashamed that more people don't call it murder.
Steven Grumbine:I am, I'm ashamed that people don't call it murder.
Steven Grumbine:With that, my friends, I am Steve Grine.
Steven Grumbine:I am the Rogue Scholar.
Steven Grumbine:I will not be live on Friday because.
Steven Grumbine:We're getting a puppy.
Steven Grumbine:We're getting a puppy.
Steven Grumbine:Family needs some loving, so we're getting a puppy.
Steven Grumbine:So tell you about the puppy at another live stream.
Steven Grumbine:His name is going to be Mr.
Steven Grumbine:P's.
Steven Grumbine:That's what our kids decide they wanted to name.
Steven Grumbine:It's gonna be a little teeny.
Steven Grumbine:Jack Russell Terrier should keep me interesting lifestyle as I try
Steven Grumbine:I am the Rogue Scholar.
Steven Grumbine:Catch us on podcast two folks.
Steven Grumbine:We're on all your, if you don't wanna see my ugly face, you can listen to us on
