Each crisis moves the Leviathan governments farther along toward open-ended printing of money

Advocates of MMT (Modern Monetary Theory) think that giving the federal government a money tree could enable funding for progressive initiatives like the Green New Deal and a full-employment economy.

Well, the crisis of 2020 has resulted in very-near-MMT-type money printing. And here’s what you get:

https://www.thestreet.com/mishtalk/economics/trump-is-hiding-a-5-billion-paycheck-protection-slush-fund

“Trump is Hiding a $5 Billion Paycheck Protection Slush Fund”

Know what? When we send our tax dollars to Washington and when the Federal Reserve creates money it all goes into a slush fund. A really, really big slush fund. A lot of it gets allocated to the military. A lot gets allocated to corporate welfare.

The large, empire-like nation-state governments of our time are too big and too remote. Their expenditures are too opaque and tend to be skewed toward the wealth/power elites. US, UK, Germany, Japan, Russia … “Communist” China, ditto. The old Soviet Union, ditto. They can’t be reformed and they can’t be socialized.

Naive progressives say: “It’s a political question. Through our movement and electoral work the priorities of the people can prevail.” Good luck with that.

The Leviathan is comprised of the statist imperial powers that foster industrial-financial empire building. It’s the modern manifestation of the power-elitism complex (capital, technology, state) that has been dominant for millennia. Let’s have no delusions about what we face. Or about what we finance with our tax dollars and consumer expenditures.

The Soviet Union was so corrupt that it finally just fell apart. Eventually they all will:

https://www.fifthestate.org/archive/339-spring-1992/the-triumph-of-capital/

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Steven Welzer

The editor of Green Horizon Magazine, Steve has been a movement activist for many years (he was an original co-editor of DSA’s “Ecosocialist Review”).