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High Interest rates sack the working class. It is time for Modern Monetary Theory. [1]

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Date: 2024-05-10  

The high #InterestRates that we are paying is nothing more than legalized theft by the titans of the private sector against the working class. Here is an economic system, Modern Monetary Theory (#MMT), that will work. Why? Math.

It is time for Modern Monetary Theory.

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1 big thing: Yes, interest rates really are high right now: Invariably, when we write about the cost of borrowing money with terms like "super-high interest rates" or refer to the Fed's "historic rate-hiking campaign," we hear complaints from readers — some polite, some not — who remember when rates were even higher. [ More ]

Modern Monetary Theory, explained: The theory, in brief, argues that countries that issue their own currencies can never “run out of money” the way people or businesses can. But what was once an obscure “heterodox” branch of economics has now become a major topic of debate among Democrats and economists with astonishing speed. [More]

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