Modern Monetary Magic At Work Authored by Ed Yardeni & Eric Wallerstein via YardeniQuickTakes.com, Republican Everett Dirksen was the Senate Minority Leader during the 1960s. Cautioning that federal spending had a way of getting out of control, Dirksen reportedly observed, “A billion here, a billion there, and pretty soon you’re talking real money.” Proponents of Modern Monetary Theory (MMT) have been claiming in recent years that the US federal government can run large budget deficits to fund social welfare programs without any serious adverse economic or financial consequences. MMT’s claim that a government that borrows in its own currency can… — Continue at ZeroHedge News : Read More
