Stephanie Kelton’s The Lens has the post A Free Lunch for Me, but Not for Thee.

An ill-reasoned take on MMT

Finally MMT proponents address why we have inflation now, but not before. I already had this figured out months ago, so I am not surprised. I wonder how many people just took the observation that the Fed was creating money like mad without creating inflation to mean there were no circumstances where there could be inflation. I warned MMT proponents to explain exactly why there was no inflation before, and why there might be inflation under other circumstances. They essentially told me to shut up. Why was I concentrating on explaining why there was no inflation. I could see the cause and anticipate the change, but you cannot wake people up until disaster happens. I know this “I told you so” will not win me any friends. I also know that the next time I have to warn people, they will pay me no heed. At least I try to protect myself from the disasters I can foresee. I can only have sympathy for those who can’t see what’s coming.