Macro Musings with David Beckworth cover image

Nathan Tankus on the Future of MMT and How to Avoid U.S. Debt Default

Macro Musings with David Beckworth

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The Concern About the Federal Reserve Breaking Norms

I think we've broken a lot more spirits of the law than that. I mean, there's most ways you can describe this. It's mostly people falling asleep. The platinum coin gets people's attention about money and the nature of money like nothing else. So I see it as a democratizing formation of a new norm rather than breaking a norm in a way that is calcifying for democratic culture. That's not really something that's relevant to most citizens. What's relevant is the government not defaulting, not impounding funds, which is also impounding spending.That's breaking laws. That's breaking norms.

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