Economics: Democrats embrace unsound policy

As the 2020 presidential elections starts to heat up, most of the attention will be on the Democrats.

One issue the Democrat candidates will discuss is this insane notion called Modern Monetary Theory.

I describe MMT as “You can never spend too much, the more the better, it’s an economic cure-all.”

MMT postulates that fiat currency has value because the government says so. But Voltaire was correct when he said: “Paper money eventually returns to its intrinsic value: zero.”

Fiat currency has value until the people wake up and realize it’s just a piece of paper. And if one follows MMT spending beliefs, in time you will be using your money as toilet paper, which will have more value.

The most beautiful thing about economics is that the laws can never be broken. You can delay facing the consequences of trying to break economic laws, but the longer you wait the higher the price you will pay.