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Monetary Literacy and the MMT (Modern Monetary Theory) movement

Monday, November 19, 2012 / 6:30pm - 8:30pm
Lakewood Public Library, First Floor Meeting Room
15425 Detroit Ave.
Lakewood, OH 44107

Meeting topics:

1. Recap and discussion of the Federal Reserve Meeting, featuring Dr. Mark Sniderman.

2. Begin discussion about MMT (Modern Monetary Theory) movement. Group will discuss the MMT framework and consider how to incorporate into ongoing study. Some of the myths that the MMT movement seeks to eliminate from the public discussion include:

a) China is our bank and we need to borrow money from China (false: US is a monetary authority)
b) The US will end up like Greece (false: US issues dollars, Greece borrows Euros)
c) The US Government needs to operate like a household, and not spend more than it collects in taxes (false - US policy should be aimed at lowering unemployment and controlling inflation)
d) More government spending will lead to inflation (false: today, more spending will lead to lower unemployment, overspending causes inflation only at and beyond full employment)

FREE and open to the public.

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