Modern Monetary Theory Is Wrong: Inflation Is Coming
By Dr. Michael Busler, Ph.D.Friday, 19 March 2021 12:59 PMCurrent | Bio | Archive
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Many economists and much of the public are beginning to worry about the massive increase in the money supply and the massive increase in deficit spending. With a public debt approaching $30 trillion and a money supply that has increased by 25% in the last two years, the worry seems justified. However, Modern Monetary Theory (MMT) says we have nothing to worry about.
MMT says that since the US uses a currency that is not backed by anything other than faith in the government, more money can always be printed to pay off the debt. And the increase in the money supply will not necessarily lead to inflation.
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I don’t understand how more “dollars” in circulation chasing a relatively fixed amount of goods and services can NOT Lead to higher consumer prices.
The only one who benefits from inflation is the Gooferment.
The poor, the retired, those on fixed income, bondholders, and the middle class are getting screwed.