If you read only one MacroTourist post all year, this is the one I want you to read. I think it’s that important.
Today’s topic is sure to incite some pretty strong reactions. There will be cries of “no! that’s just wrong!” from the hard-money advocates. The cynics will proclaim “that’s going to end in disaster” and the pessimists will shake their head in disbelief while muttering something about “the follies of the ivory tower academics” as they walk away.
For some of you, the topic of Modern Monetary Theory (MMT) will be old hat. For others, this will be a new term. For those who are not familiar, I suggest you take some time to learn about this new branch of economic thinking as it is coming to a screen near you.
Although I have an opinion about what is best for our economy and society, I am not here to convince you of anything except the fact that MMT is gaining traction, and to remind you that spending time arguing about its relative merits/detriments will not help your trading or investing one iota.
Read more here....