Robert Hormats says the pandemic has forced the ‘involuntary utilization’ of MMT.
Robert Hormats, who has worked in senior economic and trade policy roles under five different U.S. presidents and spent 25 years at Goldman Sachs Group Inc., believes the Covid-19 pandemic has forced the government to embark on what could be considered an involuntary experiment with Modern Monetary Theory.
Now a managing director at wealth-advisor Tiedemann Advisors, Hormats joins this week’s “What Goes Up” podcast to discuss MMT, the U.S.-China relationship, prospects for a coronavirus vaccine – and how investors should think about all of it.
Bloomberg Podcast
Podcast - Like It or Not, a Modern Monetary Theory Experiment Is Underway
If the above doesn't work try this link -
https://player.fm/series/what-goes-up-2502074/the-mmt-experiment-is-underway
If the above doesn't work try this link -
https://player.fm/series/what-goes-up-2502074/the-mmt-experiment-is-underway
9 comments:
It's more like a Basic Income Guarantee or Universal Basic Income experiment since there's no job requirement.
There can’t be a job requirement because people are being locked out of jobs...
Doesn't matter since haven't you heard the MMT gang insist that MMT requires a JG?
Thus, the virus is a blessing in that it strips the JG requirement away from MMT, thus proving a JG is not necessary in the first place.
What's necessary is a just money system and just giving citizens fiat is a rough approximation of that.
No job guarantee, very little in the way of stimulus other than unemployment benefits. I'd say an experiment is being carried out in the US, and it has nothing to do with MMT.
I have to agree in that tptb are synthesizing any covid policy thesis with the “we’re out of money!” thesis...
Polluting the policy response....
“ Doesn't matter since haven't you heard the MMT gang insist that MMT requires a JG?”
They’re Platonist trained they won’t make adjustments/corrections... that’s not the way their methodology works...
They’re all going to have to eventuallly pass away and then their survivors will synthesize it with other Theories ...
Their method takes a LOOOOOONG time to work ... if ever...
Mike used to have Bob Hormats on his show 15 years ago... when Hormats was at Goldman...
”They’re Platonist trained they won’t make adjustments/corrections... .”
So are you then. You’ve been corrected so many times regarding JG and it ends up you having less and less arguments down to no arguments.
Then a little later you just repeat your initial argument with no regards to whats been said previously.
You keep pretending that what you're saying hasn’t been questioned even though it has so many times.
And every time you’ve either ended changing the subject or just had nothing to say other than your usual invectives.
No correction whatsoever from you. None. Zero. Zilch.
Andrew, Hope you like my new "anti bank privilege" site. See:
https://fractionalreserveisnonsense.weebly.com/
I'm getting about 200 views a day.
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