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* * * Financial News Update 7/20/25
Does anyone remember Modern Monetary Theory? It would be unwise to oversimplify, but in general the theory says that deficit spending is not a serious issue at the national level if the federal government can print its own money. Of course that sounds too good to be true.
And it was.
Now that interest rates are up, no one is talking about MMT anymore. Still, the problem of our debt remains, but at least we hear less from the proponents of free unlimited debt with no repercussions.
If you keep doing what you’re doing,
you’ll keep getting the same results.
you’ll keep getting the same results.