Oddbean new post about | logout
 

https://i.poastcdn.org/d0ba01f8b00e596356ddc0fffd134217e633c696a4979b67f45d9413100fbb57.png 
 this is why I have always been firm on MMT not being a truly systematic approach 
 MMT is just Keynesianism for people (well, retards) who struggle with basic calculus 
 

https://i.poastcdn.org/ed3403b21474a2050c9ac547f767093afd0dd928d28ba4242ae47dde8aaedf66.jpeg 
 The key to breaking bad news is to put it in a palatable fashion, very wise 
 What will replace it? 
 Commodities 
 Gonna be tricky to carry pork bellies or barrels of oil to the store to buy groceries, but I guess we'll do what we have to do! 😂 
 My guess is some kind of crypto. It won't be official but it'll happen anyway.

I used to think gold had an equal shot but the more I thought about it the more I realised it's much much harder for average retailers to accept gold than crypto. 
 Something like the Rentenmark-to-Reichsmark transition seen in Weimar if I had to guess: a currency backed officially by a mix of gold and hard commodities. Maybe crypto ledger technologies will come  in handy to support it. 
 But we can still chop children's genitals off and export homsexuality right!?