Modern Monetary Theory is the insane and frankly – stupid as all get out – notion that a government can print as much money as it wants to without any actual harm.
Governments should not be afraid of debt – because they simply print more money.
Governments should not be afraid of low tax revenue – because they can just print more money.
And governments should not fear inflation because they can fight it by lowering government spending and increasing taxes – and you guessed it – they can still print any more money that they need!
(Begs the question: If the government can print any money that it needs, why are we paying taxes? 😳)
I mean, at one-time people were actually talking about creating a Trillion-dollar coin to pay off the national debt.
Seems like crazy talk with the inflation rate at a 40-year high this month.
Because governments notoriously dislike reporting actual inflation numbers, Peter Levels made a fantastic inflation tracker here: inflationchart.com
Stop the madness.
Santelli gets it.