QUESTION: Dear Martin,
Would you like to enlighten me on your stance on the Modern Market Theory that is being touted by some in finance and politics please?
ANSWER: The basis upon which MMT has emerged is actually logical for those who lack the understanding of how to conduct research. Since QE has lasted in Europe for 10 years+ without success in creating inflation, they take this as proof that the government can just print without concern of inflation. Money has value only because it is legal tender. I have written about this subject before – MMT.
I will address this in a detailed report because all economic models have now failed. This is part of the Great Unknown we have entered in Economic Theory. Central Banks are without a map and are now lost in the wilderness.