An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
The author's premise is true, perhaps, if just the economics profession is considered. At the moment, we have even a Larry Summers calling for more stimulus. Politically, the institutional left, i.e., the Democratic party, has been running against deficits since Mondale in 1984. Before that Jimmy Carter's penny pinching ways precipitated a rebellion by the Democratic congress. Today, the farthest left person in the Senate, Bernie Sanders, is at best a deficit dove. He calls for "balanced and fair" deficit reduction and never challenges the larger "fiscal responsibility" dogma.
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The author's premise is true, perhaps, if just the economics profession is considered. At the moment, we have even a Larry Summers calling for more stimulus. Politically, the institutional left, i.e., the Democratic party, has been running against deficits since Mondale in 1984. Before that Jimmy Carter's penny pinching ways precipitated a rebellion by the Democratic congress. Today, the farthest left person in the Senate, Bernie Sanders, is at best a deficit dove. He calls for "balanced and fair" deficit reduction and never challenges the larger "fiscal responsibility" dogma.
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