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The Dangers of Fiscal Dominance
Modern monetary theory or mmt says actually if we don't have the money to pay for it the government prints money and the government can fund deficits at infinitum there really is no limit other than inflation. It also rests on the fact that you know if i jack farley want to buy something i either have to earn the money or i have to borrow the money topay for it but i can't just print dollars however the u.s government as a monetary sovereign it can uh what are your thoughts on on those beliefs well i think there's an ela there is as always an element of truth but it may well be a dangerous element of truth, he said.