MMT Archive

My big fat Greek MMT exit strategy

Due to popular demand, I’ve begun outlining a Greek exit strategy to exit the euro currency, and instead use its own new currency to provision itself: 1. The Greek government would announce that it will begin taxing exclusively in the new currency. 2. The Greek government would announce that it will make ...Read More

CNBC’s John Carney on Krugman and MMT

>    >   (email exchange) >    >   On Sat, Nov 12, 2011 at 2:19 PM, Stephanie wrote: >    >   John Carney loving on us again Yes! Paul Krugman Goes MMT on Italy By John Carney November 11 (CNBC) — It seems pretty clear that the school of thought known as Modern Monetary Theory has made a ...Read More

MMT, The Euro And The Greatest Prediction Of The Last 20 Years?

Thanks, Cullen!!! MMT, The Euro And The Greatest Prediction Of The Last 20 Years? By Cullen Roche November 7 (Seeking Alpha) —Being right matters. This isn’t emphasized quite enough in the finance world and in economics in general. Too often, bad theory has led to bad predictions which has helped contribute to ...Read More

The deficit isn’t large enough

Well stated MMT based narrative. The Problem With The Deficit? It’s Not Big Enough ...Read More

How MMT sees the President’s speech

MMT sees the President’s speech the way New Yorker’s would see this speech if it was given by a New York City Mayor back in the days when they still had subway tokens: My fellow New Yorkers, I have a proposal to help our retired NYC workers that you can all pass, ...Read More

comments on Krugman’s post

Franc Thoughts on Long-Run Fiscal Issues By Paul Krugman August 11 (NYT) — Regular readers of comments will notice a continual stream of criticism from MMT (modern monetary theory) types, who insist that deficits are never a problem as long as you have your own currency. Right, ability to pay is not ...Read More

MMT to Moody’s- confirm US as AAA on ability to pay

This is an opening for Moody’s to gain a competitive advantage over S&P. Moody’s can announce that whereas any issuer of it’s own currency can always make nominal payment on a timely basis, ability to pay is absolute and beyond question for the US government. Therefore, when reviewing the US government’s credit ...Read More

MMT history and overview

Excellent post from Johnsville: Modern Monetary Theory (MMT) in a Nutshell A rampaging mutant macroeconomic theory called Modern Monetary Theory, or MMT for short, is kicking keisters and smacking down conventional wisdom in economic circles these days. This is because an energized group of MMT economists, bloggers, and their loyal foot soldiers, ...Read More

Kelton responds to the Progressive Caucus Co-chair

Maddening! The Clinton surpluses were driven by the bubble and unsustainable private sector deficits. When the bubble burts, stocks crashed, the economy went into recession, and the surplus quickly reversed itself. It was only AFTER the government’s budget moved sharply into deficit that the private sector was able to get out ...Read More

Edit: Quote from Scott Sumner

I wasn’t able to fully grasp how MMTers (“modern monetary theorists”) think about monetary economics (despite a good-faith attempt), but a few things I read shed a bit of light on the subject. My theory is that they focus too much on the visible, the concrete, the accounting, the institutions, and not ...Read More