Monday, April 20, 2020

Stephanie Kelton: ‘They’re going to have massive deficits. And it’s fine’

Stephanie Kelton

The Financial Times feature, Lunch with FT, published an interview this Friday with a top supporter of mad money printing, Stephanie Kelton.

She didn't disappoint those who view her view as providing reckless policy advice.

With regard to the UK she said:
They just had an election where everything was wrapped around fiscal rules. That’s all gone. They’re going to have massive deficits, and it’s fine.
And it was more of the same from her about the US:
I keep saying we don’t have a debt problem, we don’t have a deficit problem.
She is saying this, of course, at a time when the US is adding trillions upon trillions of dollars to the deficit.

She really thinks printing money out of thin air can help an economy, she explained to FT her support for a universal income this way:
Even now, in this environment where you don’t have actual work for many people to do because you want them sheltering in place, you could define their job as "stay home and help us flatten the curve. We’re going to pay you to help us save lives by staying home." So that job guarantee, even if we had it in place today, could absorb people, restore income with no time limit.
I am filing this away for future reference. Let's see what she says when price inflation gets out of control.



And she doesn't stop:

She appears to really hold the view that printing money out of thin air will somehow alleviate a lockdown.


  1. Sounds like another of Zachary Yost “Learned Ignoramus”.

  2. No, this is just a common variety Ignoramus Ignoramus. She doesn't even understand her own specialty of economics.