ML-Implode News - `Loose cannon' Trump Upends Debt Discussion; may take aim at Wall Street

"This is the United States government," Trump said on CNN. "First of all, you never have to default because you print the money, I hate to tell you, OK?" Bingo. With a stroke, Trump demolished decades of homage by many economists and virtually all politicians to the straitjacket of a monetarist dogma that ignores the realities of present-day finance.
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"This is a Nixon-goes-to-China moment," Randy Wray, a leading MMT [Modern Monetary Theory] exponent at Bard College in New York, told Bloomberg, hailing Trump as "a Republican far to the left of the Democratic party apparatus who wants to promote rising living standards of Americans." (President Nixon's 1972 trip to China represented a major breakthrough in relations because of his past as a fervent anti-Communist crusader.)

Economic blogger Mike Norman, another advocate of MMT, said "in one comment he has done more to advance the discussion and expose the truth than what any of us have done in over a decade."

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`Loose cannon' Trump Upends Debt Discussion; may take aim at Wall Street