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Sam Fleming and Chris Giles — Why America is learning to love budget deficits

Summary:
The trend towards looser fiscal policy could mark the biggest shift in economic thinking in a generation,,,, Discussion of pros and cons in which MMT gets a play, of course.Favorite paragraph: “The winning formula for the Democrats is they are going to have to endorse some of these relatively fiscally extreme positions to get nominated,” says one Democratic strategist, speaking of the 2020 presidential contenders. “The threats of debt and deficits have not panned out. We have been running deficits and debt for 30 years and where is the crowding out, the inflation and the soaring interest rates?” "The emperor has no clothes."Financial TimesWhy America is learning to love budget deficits Sam Fleming and Chris Giles

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The trend towards looser fiscal policy could mark the biggest shift in economic thinking in a generation,,,,
Discussion of pros and cons in which MMT gets a play, of course.

Favorite paragraph:

“The winning formula for the Democrats is they are going to have to endorse some of these relatively fiscally extreme positions to get nominated,” says one Democratic strategist, speaking of the 2020 presidential contenders. “The threats of debt and deficits have not panned out. We have been running deficits and debt for 30 years and where is the crowding out, the inflation and the soaring interest rates?”
"The emperor has no clothes."

Financial Times
Why America is learning to love budget deficits

Sam Fleming and Chris Giles
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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