Episode 8 of our new comic series – The Smith Family and Their Money Adventure – Available now. Have fun with it and distribute it to those you think would benefit…
The Smith family is a middle-class family living in a city in the world. Second generation parents are college educated and have professional careers. Their two children attend local public schools.
The English version is available now, with the Japanese version launching later today.
In Episode 8, the Smith family accompanied Mariko and Hiroshi Fujii on a visit to an important Buddhist temple in western Kyoto.
Ryan wasn't too happy with staring at the rocks and thought they should brighten up the famous rock and stone garden with some petunias or something.
The conversation turned to Ryan's assertion that fiscal deficits crowd out private investment spending in the economy, and Guangzhi led him through an exercise in which spending creates demand for goods and services, which in turn creates income from which households can draw Save some.
Ryan wasn't sure where the company was going, but he knew that when his engineering company received more orders, production and revenue would increase.
Hong went on to point out that fiscal deficits—spending more than taxes are collected—increase overall spending and thus increase savings.
This means that the claim that fiscal deficits siphon away the limited supply of savings (because the government sells bonds to the private market) cannot be true.
Ryan believes that when facts contradict theory, the facts must be wrong.
The story continues.
If you identify yourself with any of these characters, then either continue spreading your MMT knowledge or get our textbook and get up to speed, depending on which character you might identify with.
Any feedback you have other than “this sucks” would be greatly appreciated.
The next episode – Episode 9 – will be online on January 5, 2024.
That's enough for today!
(c) Copyright 2023 William Mitchell. all rights reserved.
