Read more on this subject: Economy – Economics USA
News Story Source: By Doug Casey Casey Research
Justin's note: The left has a new obsession… Modern Monetary Theory (MMT).
MMT is an economic theory which essentially argues that the U.S. government wouldn't need to collect taxes or borrow money to finance spending. It could simply print more money if necessary.
Now, this concept isn't new. It's been around for decades. But its popularity has skyrocketed, thanks to endorsements from Democratic presidential candidate Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez (AOC), the new rising star of the Democratic Party.
This new breed of socialist Democrats has embraced MMT because it would make all their crazy ideas possible. The national debt, deficits, and inflation concerns would no longer stand in the way of projects like the Green New Deal or universal healthcare/housing/education.
In short, MMT would give the government a green light to spend money even more recklessly than it does now. That's a problem.
So I got Doug C
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