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A comment on U.S. inflation rate rises to 13-year high of 5.4%. Parent comment

Re:U.S. inflation rate rises to 13-year high of 5.4% by thepasswordis on Wednesday October 13, 2021 @10:53AM (#28852909)
You’re pretty smug about “velocity of money” there. Also you appear to not understand that economics isn’t a hard science where there is some rigid consensus.

Some (many? Most?) economists think that this “modern monetary theory” stuff is suicidal. It looks to me like they’re being proven right.

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Re:U.S. inflation rate rises to 13-year high of 5.4% by wbsss4412 on Wednesday October 13, 2021 @11:15AM (#28853231)
Your comment seems to imply that the MMT set is actually directing policy, rather than being in favor for a smaller subset of progressive politicians.

The fed isn’t run by Stephanie Kelton. We are still living through one of the most disruptive periods in modern economic history, seeing moderately elevated inflation in this context doesn’t mean the sky is falling.

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Re:U.S. inflation rate rises to 13-year high of 5.4% by whimsicalism on Wednesday October 13, 2021 @10:57AM (#28852972)
> Some (many? Most?) economists think that this “modern monetary theory” stuff is suicidal. It looks to me like they’re being proven right.

You have no idea what you are talking about if you think that the Fed's actions are based off of a fringe heterodox theory like MMT.

> economics isn’t a hard science where there is some rigid consensus.

Oh, guess that gives you license to make up whatever theory you want then, my bad.

Not going to continue replying.

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Re:U.S. inflation rate rises to 13-year high of 5.4% by dragonwriter on Wednesday October 13, 2021 @03:52PM (#28856792)
“velocity of money” long predates and has little connection to MMT.
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