by Lance Roberts
Real Investment Advice
Yellen’s “Go Big” MMT plan was fulfilled this week as the Government passed the mammoth $1.9 trillion “American Rescue Plan Act of 2021.” While she recently stated that “Right now, with interest rates at historic lows, the smartest thing we can do is act big,” there is mounting evidence such actions may disappoint.
If you haven’t heard about Modern Monetary Theory, or “MMT” for short, by now, you will soon. MMT is gaining traction by economists and politicians from both sides of the aisle as the economic prescription, even panacea, to cure our economic ills. Regardless of your view, MMT will have large effects on economic growth and prosperity.