The Fantasy of Modern Monetary Theory w Stephanie Pomboy amp Grant Williams

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=daS3J22PY48

Stephanie Pomboy, founder and president of Macro Mavens, joins Grant Williams to discuss the emergence of MMT as the idea gains traction. Pomboy discusses the multitude of economic and political factors leading to MMT’s rapid expansion. This clip is excerpted from a video published on Real Vision on April 18, 2019 entitled “The Startling Consequences off Monetary Policy.” • Watch more Real Vision™ videos: http://po.st/RealVisionVideos • Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe • Watch more by starting your 14-day free trial here: https://rvtv.io/31F5zJg • About Future Fears: • What s coming that we should all be worried about? What keeps the world s greatest investors up at night? Household names of finance discuss the terrifying potential risks posed by artificial intelligence, the rise of social media, autonomous vehicles and more. • About Real Vision™: • Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. • Connect with Real Vision™ Online: • Twitter: https://rvtv.io/2p5PrhJ • Instagram: https://rvtv.io/2J7Ddlw • Facebook: https://rvtv.io/2NNOlmu • Linkedin: https://rvtv.io/2xbskqx • The Fantasy of Modern Monetary Theory (w/ Stephanie Pomboy Grant Williams) • / realvisiontelevision • Transcript: • For the full transcript visit: https://rvtv.io/31F5zJg • STEPHANIE POMBOY: Right. Well, but, so that's interesting, because that's always held up as the • example. • GRANT WILLIAMS: Yeah. • STEPHANIE POMBOY: See? It can work. It's the perfect crime. You know, no one loses. It's what • could go wrong? • Well, there happen to be some pretty important differences between the US economy and Japan. • And the most obvious to me is that they're internally financed. They don't rely on the rest of the • world to finance themselves. • So as we sit here running dollar bills off the printing press, you know, China, Japan, and Russia, • and all these people, say, yeah, that's good by us. No problem. You can completely inflate away • all of the obligations that you owe us. • So it's very difficult for me to wrap my head around it, and see how it plays out. But I will confess • to being scared at how much traction it's gaining. • GRANT WILLIAMS: Yeah. • STEPHANIE POMBOY: And that I really need to start to figure out how this could possibly • happen. Because talking about how this is a long term problem that we might have the luxury of • not addressing right away, I think the catalyst for this whole pension crisis becoming immediate is • going to be the bursting of the corporate debt bubble. Because, obviously, if you can't make 8% • in a 0% risk free world, you've got to load up on all of the most toxic claims you can out there. • So we know that the pensions have massive exposure to this corporate debt bubble. And it • wouldn't take much of an increase in rates to really wreck havoc in that corporate market. I think • there's an appreciation now about the increasingly low quality of corporate debt, even in the • investment grade sphere, where half of the investment grade debt now is one-- • GRANT WILLIAMS: One rung.

#############################

New on site