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Keeping it Simple | Ep. 25: Transitory or Purgatory?

Keeping it Simple with Simplify Asset Management

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The Problem With the Credit Theory of Money

I'm a big supporter of like the credit theory of money which is basically that anything that can be endogenously created from thin air can serve as money. MMT kind of gets a little sloppy with some of the language there where they say that like taxes don't fund spending and I always push back on them. If you consolidate the Fed into the treasury you can argue that the government doesn't really it doesn't need its own money but it definitely benefits from the aggregate economy having more capital.

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