Of course it's not right to continue with Keynesian policies. Keynes was always dead wrong.

yes, how long with this dumb game go on relying on cheap money and low interest rates.

It is a stack of cards waiting to fall, and we are getting nearer every day.

Not having a Flat Tax system & over-the-top Public Service salaries doesn't do anything to improve the situation.
There's too big a gap between revenue creators & revenue takers ! An imbalance that will never balance without a Flat Tax !

I shouldn't worry too much. After all, the Morrison Government, has enacted a number of business-friendly policies that will socialise the debt as we continue to privatise the profits? And get the younger generation off welfare?

Got to be a win-win and all but make older workers past their use-by date? redundant? And all but force that cohort to divest themselves of their assets? Plus boot them, their experience and the wisdom only conferred by years! Onto the scrapheap?

Leaving the socialised debt burden for the Grandkids? After we cook them with unmitigated climate change and purloin their incomes as much as poss?

We'll b ok six feet under! Who cares? Not the pretenders announcing an old rebadged announcement or promising to review a review about a review?

[Esalie, beautiful flowers, you are my dream of paradise completed. You are my dream come true.]

You get the picture?
Alan B.

OF COURSE private sector debt is a burden. But that debt exists for a reason: to fund private sector investment. And that investment is an economic benefit. Indeed the investment wouldn't be made if it were not expected to be profitable, so it's safe to conclude the benefits it brings outweigh the burden of debt.

>To the extent that government credit creation encourages banks to lend more,
>MMT brings the financial system limit closer, burdening economic performance.

The above statement is false because the financial system limit is not a fixed amount. Also, by highlighting the possibility of using fiscal stimulus in place of monetary stimulus, it could be argued that MMT shows how to move the financial system limit further away.

As the Reserve Bank Governor said recently we, the RBA, can just click
the money into existence.