Saturday, March 16, 2019

Now, Warren Buffett Smashes Modern Monetary Theory

Warren Buffett
I have never considered multi-billionaire Warren Buffett to be particularly sound when it comes to economics.

He is very shrewd when it comes to investing but he certainly didn't get his father's genes when it comes to economics.

That said, even Buffett gets that Modern Monetary Theory is very bad economics.

"I’m not a fan of MMT -- not at all,” Buffett said Friday in a telephone interview with Bloomberg, adding that the deficit spending that’s part of the theory could risk “spiraling” inflation. “We don’t need to get into danger zones, and we don’t know precisely where they are.”

Buffett nails it, monetizing debt, in addition to distorting the economy, can result in an extreme acceleration in price inflation.



  1. Love the mmt hate, unfortunately most of the counter commentary has been from the traditional bad guys which gives it more strength to the normal person.

  2. Berkshire Hathaway-owned insurance firm under investigation

    A troubled insurance company, which Berkshire Hathaway is seeking to sell, had been under an undisclosed investigation by New Jersey regulators since at least May, according to documents obtained by The Post.

    Applied Underwriters, which was accused of “bait and switch” marketing tactics by California officials in 2017, illegally altered its contracts with customers to boost the fees it was charging, according to a May 18 letter to the company from the New Jersey Department of Business and Insurance.

    > "ordered to reimburse harmed customers and to end all of its current contracts" Whoa $BRK