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MMT the New Old Buzzword
One of the themes you’ll see recently is this push for acceptance of “MMT” or modern monetary theory. As we’ll see, this isn’t a new concept, it’s simply one that’s being given a lot of air time because our current politics have a lot of communist/socialists on board. Consider Bernie for example. He freely admits hes a socialist.
We face a dichotomy. It certainly doesn’t get much press and frankly most people never put two and two together, but I believe it is something we need to at least give some thought to.
We know the Central Banks of the world have inflated bubbles of enormous size in both bonds and assets, especially equities. Why have they done that? Well the common thinking is that they’ve done that to ward off economic disasters and keep economies moving higher. Okay, let’s go with that for a minute.