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Fitch's U.S Debt Downgrade Was Justified | Danielle DiMartino Booth
Forward Guidance
The Importance of Monetary Theory
Inflation will be a thousand percent, but not that the deficit itself is bad. It's just that there was too much and it resulted. So we took modern monetary theory on a test drive and it crashed into the wall. The inflation that's been sustained and suffered by middle income Americans who weren't part of the expanded social safety net. We're finally starting to see job cuts in the lowest paid working segment. But for a very long time, you had the situation where the lowest income earners were the most protected. And the highest income earners were agnostic as long as you have zero interest rate policy.
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