IN DEFENCE OF MMT

And what this means for markets (hint, it's probably time to sell US assets)

A lot of folks claim the recent bout of inflation is proof that “MMT is a flawed theory.”

I disagree.

And before you hit delete because you don’t want to read some “left-wing drivel”, let me have a moment to explain.

MMT was never meant to be a recipe for what should be done. Rather, it was always a framework that outlined the real-world constraints that m…