#241 Why modern monetary theory isn't worried about federal budget deficits, why budget deficits never go away and what are the risks if budget deficits get too large. We also explore what else proponents of modern monetary theory believe. For show notes and more information on this episode click here. [0:22] What is Modern Monetary Theory?[3:20] Taxes create demand for fiat money.[5:32] Taxes and government bonds don’t finance the federal government.[8:56] Budget deficits increase the net financial assets of theprivate sector.[13:16] Taxes destroy money.[13:46] The private sector determines the size of the budget deficit.[14:58] The concerns of crowding and losing faith.[19:08] Even government spending has to be constrained.[20:02] The dangers of the Federal Reserve controlling interest rates.[21:45] Modern Monetary Theory is correct in terms of how the economy actually works.[23:25] Do federal budget deficits matter? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#239 Why successful trading of commodities futures, foreign currencies and options depends on exploiting novice traders. Thanks to Molekule and Sleep Number for sponsoring this episode. For show notes and more information on this episode click here. [0:20] Learning how to trade.[4:52] David takes a look at a trading school for himself.[9:15] Red flags in the trade school learning process.[10:32] Common mistakes in managing wealth according to the trade school.[16:29] Is the solution found in only trading and shunning the stock market?[19:48] The patented approach to trading success is based upon taking advantage of inexperienced traders.[25:09] Trading is a zero-sum game. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.