Modern Monetary Theory: Democrats' Crackpot Tool For Bankrupting America
They don’t talk about it in any real detail, but Modern Monetary Theory forms the basis for the Democrat Party’s ongoing effort to bankrupt America during the Biden presidency. MMT, as the New York Times described it this week, “posits that if a government controls its own currency and needs money — to make sure its citizens have food and places to live when, say, a global pandemic pushes many out of work — it can just print it, as long as its economy has the ability to churn out the needed goods and services.”
In other words, it’s a theory that serves as the foundation for printing as much money as the government wishes to print in order to buy as many votes as it can for the next election cycle. Its’ premise is madness: Just print all the money you want, so long as your economy can churn out enough goods for all that money to chase. But hey, if your economy can’t do that, well, the massive inflation that will inevitably result isn’t all that big a deal, is it?
Of course, under the Sock Puppet administration, which has in just a year already managed to significantly hamstring the U.S. economy, that economy can’t produce nearly enough goods for all the COVID relief money and fake infrastructure money and Build Build Back Better money to go chase. Even worse, we get most of our goods in this country through another form of deficit spending - the trade deficit resulting from importing so much more than we export - so that makes the inflation problem even worse. Thank God the BBB bill is dead - all it would do is make the problem unimaginably worse.