Naked Capitalism has the article Mirabile Dictu: Lead Story at Bloomberg Gives a Thumbs Up to MMT.

Remember that Michael Bloomberg would have run for President against Bernie Sanders, he was that afraid of Bernie Sanders’ policies, it is a double miracle that a news outlet he owned would support an economic theory that justifies what Bernie Sanders wants to do.

Get ahead of the rest of the corporate media by reading what they will be telling us in a year or two.

The comments on the article are just great.

Here are some comments about the article.

RabidGandhi
March 14, 2016 at 8:33 am

If you had asked me 15 years ago what might break the educated classes obsession with inflation, I would have thought certainly bringing interest rates to zero and beyond and having multiple central banks flood banks with liquidity would certainly dispel the myth. Yet I still find it utterly mind boggling: after ZIRP, NIRP and repeated QEs did in fact bring this to fruition, the first thing that always gets mentioned when presenting MMT is: Zimbabwe and Venezuela (although the Bloomberg article for some reason forgets to mention Weimar Germany). After years of expanding the monetary base and lowering interest rates Europe is in a deflationary spiral, and they still trot out the inflation bogeyman (looking at you Janet Yellen).

This marvelous ability to hang on to a discredited theory in the face of all evidence is a blaring testament to the effectiveness of the education/propaganda system.

YankeeFrank
March 14, 2016 at 10:23 am

As Jesse over at his Cafe Americain continues to point out, its the credibility trap they are caught in that makes them refuse to see reality: if monetary stimulus doesn’t work, then what have they been doing for the past 8 years? And if fiscal stimulus is the only way to generate demand in a massively over-indebted private sector, then all the talking up of the economy for the past 7 of those 8 years has been a lot of distortions and lies.

The green shoots must’ve amounted to something by now or they were wrong all along and are not just incompetent, but lying thieves who saved their friends in finance while letting the 99% slowly and painfully die… and now, lucky us, we get fascism.