Jared Bernstein, Chair of Council of Economic Advisers, can't explain why Gov borrows its own Money!

And that borrowing is at interest, to YOU! Probably the most frightening clip you'll ever watch on the people in charge of the US economy. Just bright enough to tow the line and look the other way in blissful ignorance as the ship sinks. He'll flee to Israel when it gets bad enough. Note the last name. (((Every single time, all the time)))

Jared Bernstein was asked about Modern Monetary Theory (MMT).

MMT says government is different. It owes the money to itself and the debt can be canceled at will. In MMT theory, a benevolent government would spend the money wisely, cancel all the debt or pay interest to itself, and everyone will essentially live happily ever after.

The notion is really amusing. But it was more amusing watching Bernstein try to address a question on it. He doesn't even know, his job is just to keep the ship running on the course it always has been since 1913.

#ThisIsWhyWeBitcoin

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