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Podcast: PRay TeLL, Dr. Hash
Episode: 1431 Modern Monetary Theory Fails
Description: Modern Monetary Theory (MMT) was hypothesized in the beginning of the last century; it’s the idea that a government can print an infinite amount of money without adverse effects, and is the basis of Bidenomics. Not considering the side effects, the theory seems sound; creating an economy through stimulus where production adjusts to equal consumption via market forces. As needed, if demand increases, production can be increased through technology & automation, creating a demand for training the next generation of scientists & engineers. MMT is a win-win situation but it has two insidious problems.
First, money is a stand-in for real th...