MMT's godfather laments that US spending is at the level of a “drunk sailor”
2024/7/9 0:59 JST (some excerpts)
Economists completely ignore the impact of rising spending on finances - Mosler
Japan is on the same trajectory as the US, but its scale has doubled - the Bank of Japan has entered the interest rate hike phase
The phrase splurging like a “drunken sailor” is a cliché used about the US government in both financial markets and the political field. From the wealthy Stanley Drackenmiller to Jamie Dimon, who has served as the chief executive officer (CEO) of the major US bank JPMorgan Chase for many years, this term has been used to express the inflating US budget deficit.
Economists completely ignore the impact of rising spending on finances - Mosler
Japan is on the same trajectory as the US, but its scale has doubled - the Bank of Japan has entered the interest rate hike phase
The phrase splurging like a “drunken sailor” is a cliché used about the US government in both financial markets and the political field. From the wealthy Stanley Drackenmiller to Jamie Dimon, who has served as the chief executive officer (CEO) of the major US bank JPMorgan Chase for many years, this term has been used to express the inflating US budget deficit.
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