Some smaller investment advisors think MMT is on the way

How to Solve the Public Pension Crisis

Harley Bassman, who blogs as the Convexity Maven, came to the same conclusion. Best known as the creator of the MOVE Index, the bond market’s analog to the VIX, the stock market’s measure of volatility, he oversaw numerous mortgage and derivative operations for Merrill Lynch along with posts at Credit Suisse and Pimco before retiring to manage what he calls a “hedge fund of one.” In his latest commentary, Bassman contends that “helicopter money” (to use former Fed Chairman Ben Bernanke’s channeling of Milton Friedman’s phrase) is apt to be dropped to stave off the next recession, as prescribed by modern monetary theory.
“MMT may arrive on the cat’s paws of infrastructure spending or the naked policy of Universal Basic Income”—the plan advocated by Andrew Yang, one of the presidential hopefuls in the back half of the Democratic pack. “But rest assured, as the undersaved baby boomer demographic reaches retirement age, there is no politically viable alternative to MMT. The average boomer will turn 65 in 2020, and this entire generation will reach legal retirement in 2029; massive fiscal expansion will occur within this window,” he concludes.

Not well known advocates.  The crowd is growing.

Most of the advocates do not read the history of us doing this in prior times. We sandboxers know how to make this time slightly better than last time. Not everyone understands the sandbox.