Can You Figure Out What He's Saying？
Episode Stats
Summary
In this episode of the podcast, we talk about the government's overspending and taxes, the housing crisis, and the lack of development in our natural resources. We also discuss the proposed pipeline projects in Canada and whether or not they should be built.
Transcript
00:00:00.000
So what's your opinion on the government's overspending?
00:00:03.060
Do you think they should cut back their spending?
00:00:06.720
I guess my view is along the lines of modern monetary theory,
00:00:10.680
which says that government spending is inflationary and taxation is de-inflationary.
00:00:15.820
And that means that basically the debt isn't a huge problem as long as it's not causing inflation.
00:00:21.320
So governments can sustain very large debts as long as it's not inflationary spending.
00:00:26.140
So, I mean, when we see inflation in the economy, then the government should increase taxation or spend less.
00:00:32.000
Okay. So, which would you rather have our government do?
00:00:35.480
Should they cut back spending so that the debt doesn't increase, or should they increase taxation?
00:00:42.300
I mean, like, the premise of my response is that that's a false dichotomy, basically.
00:00:47.960
that the government should cut back spending if it's causing inflation
00:00:52.840
or it should raise taxes if it's causing inflation,
00:00:56.540
but actually running a balanced debt isn't necessary, or deficit isn't necessary.
00:01:01.540
Governments can issue their own currency, right?
00:01:03.880
And so any debt that it doesn't have to run, a balanced budget,
00:01:14.380
but the government has other de-inflationary tools like taxation, right?
00:01:17.960
Right. So like you can print money and then if you're causing inflation, you can tax it back.
00:01:23.380
Right. And to keep the balance, to keep the, you know, to, you know, run whatever kind of deficit you want.
00:01:30.120
Yeah. But do you think overtaxation, though, is bad for the economy?
00:01:34.160
I mean, the premise of your question implies that it's bad by saying overtaxation.
00:01:38.560
So, yes, I do think that overtaxation is bad for the economy.
00:01:41.680
economy okay yeah and um so like one of the questions that i ask students um what like
00:01:48.860
asking this question on this topic they bring up the housing market and just the lack of development
00:01:54.680
in our natural resources and stuff like that um so i want i'm interested to get your opinion on it
00:02:00.060
would you be okay with more pipelines in canada to get our oil yeah i mean i think that the you
00:02:08.240
know that you can develop the resources and you know I don't see the problem with that I mean
00:02:15.740
as long as it's you know what the market wants right like I mean I think that it's hard to say
00:02:21.460
whether it's cheaper and more efficient to run pipelines through like northern Ontario than the
00:02:26.620
pipeline network that all exists through the states just down and through there so I mean
00:02:29.940
some of the pipeline projects I don't think make a lot of like fiscal sense but I I would support
00:02:35.440
ones that do have backing from industry and whatever yeah so do you think it would be good
00:02:40.220
for the liberal government to repeal the no pipelines act which basically kind of restricts
00:02:46.280
the building of pipelines in canada i mean i think yeah like i mean i'm not sure the exact
00:02:52.980
this exact bill but i do think that if there's a demand for oil in places and you want to fill