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Will Coronavirus encourage Modern Monetary Theory?


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First off, I think Modern Monetary Theory (MMT) is a crazy idea.


However given the lack of firepower available to governments, it seems as though heavy fiscal stimulus will be the next step, which suggests that we are one step closer to MMT.


I mean, we've all had 10 years of unconventional monetary policy, so we've been softened up for more weird stuff.


Obviously this is an unknown, and would normally be one for the harder-left, but nothing would surprise me any more.


I guess you'd want to own TIP$ in such a situation, but what else?

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