Now that we have all the groundwork laid out, it’s finally time to discuss the descriptive claims of MMT. The first, and most shocking is that fiscal deficits do not matter. No matter how much the government is in debt, since it is a currency issuer, it can always pay it back. If China came over tomorrow and asked for its 20 trillion of our dollars back, we could just change a number in a spreadsheet, and it would be done. This is because with a fat currency, the government is not tethered to the supply of any other resource. And as a currency issuer, the government has no (legal) limit on the amount of money it can choose to generate in an economy. There are ramifications of course, but we will address that in a bit.
Introduction
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Your First Big Job: How to Get It
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Flourishing in Your Job and Well-Being in Your Life
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The Importance of Behavioral Economics
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What is Money?
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Analyzing Your Current Financial Situation
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Budgets and Saving
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Credit Cards, Auto Loans, and Other Personal Debt
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Student Loans
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Understanding the Time Value of Money
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Banks and Financial Institutions
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Buying a Home
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Insurance: What Do You Need?
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Investing Fundamentals
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Investing in Mutual Funds
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Saving for Retirement
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Fiscal Policy and Monetary Policy-Government Intervention in Your Life
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