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More MMT “criticism”

Summary:
Confuses QE (monetary policy) with fiscal injection (fiscal policy). Can't get much more wrong than that. Moreover, confuses the monetary in a monetary production economy with production of goods. The author is ill-informed and not qualified to speak on this topic. Fail.GoldSeekModern Monetary Theory: A Cargo Cult Keith Weiner, Monetary MetalsSee also Another straw man argument that makes stuff up. Well, not so much. Furman and Summers: “Although politicians shouldn’t make the debt their top priority, they also shouldn’t act as if it doesn’t matter at all.” This means you, advocates of Modern Monetary theory, or at least MMT’s “political supporters” who have “used it as a justification for ignoring government debt entirely.” To Whom might that refer, actually? No citation. Smear.

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Confuses QE (monetary policy) with fiscal injection (fiscal policy). Can't get much more wrong than that. Moreover, confuses the monetary in a monetary production economy with production of goods. The author is ill-informed and not qualified to speak on this topic. Fail.

GoldSeek
Modern Monetary Theory: A Cargo Cult

Keith Weiner, Monetary Metals

See also

Another straw man argument that makes stuff up.
Well, not so much. Furman and Summers: “Although politicians shouldn’t make the debt their top priority, they also shouldn’t act as if it doesn’t matter at all.” This means you, advocates of Modern Monetary theory, or at least MMT’s “political supporters” who have “used it as a justification for ignoring government debt entirely.”
To Whom might that refer, actually? No citation. Smear. Another fail.
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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