Cantillon Effects - Latest Commentary

The MMT crowd want to give the government unlimited power to borrow and spend money; half their audience thinks this is great because -along with everyone else- it already owes so much money that it can't possibly allow interest rates ever to rise; and Kenneth Rogoff wants to PAY the state to borrow, not charge it for the privilege. Running the printing presses hard, behind the scenes, stands everyone's favourite open-handed uncle - Fed Chairman Jay Powell.