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Investment Perspectives — Modern Monetary Theory, and why you’re about to hear a lot more about it

Summary:
Most of the financial "professionals" writing on (against) MMT are clueless about both MMT and also the basics of finance in institutional arrangments. They think that the world is still on the gold standard, for example, likely because they strongly believe that it ought to be. But beyond that, also clueless about how the accounting works at the macro level. A very few do understand MMT, however. Paul McCulley of Pimco and James Montier of GMO, for example. Here is another voice to add to the list of those that actually get MMT and therefore finance. Pass it on. There is also a link to download a PDF of the article.QuayGlobal InvestmentsInvestment Perspectives: Modern Monetary Theory, and why you're about to hear a lot more about it Chris Bedingfield Reposted at Live Wire

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Most of the financial "professionals" writing on (against) MMT are clueless about both MMT and also the basics of finance in institutional arrangments. They think that the world is still on the gold standard, for example, likely because they strongly believe that it ought to be. But beyond that, also clueless about how the accounting works at the macro level.

A very few do understand MMT, however. Paul McCulley of Pimco and James Montier of GMO, for example.

Here is another voice to add to the list of those that actually get MMT and therefore finance.

Pass it on. There is also a link to download a PDF of the article.

QuayGlobal Investments
Investment Perspectives: Modern Monetary Theory, and why you're about to hear a lot more about it
Chris Bedingfield

Reposted at Live Wire

Here is an alternative viewpoint by an economist that is also a financial professional who actually cites MMT literature — but gets it wrong anyway.

Warren's Page
Modern Monetary Theory—A Critique

Warren L. Coats


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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