The coming of Modern Monetary Theory favored by far left is ‘inevitable’

Hedge fund king Ray Dalio said the U.S. will end up adopting an economic philosophy that uses zero interest rates to finance big government spending for more widespread growth.

Known as Modern Monetary Theory, the idea of running up large debts and deficits in order to pull the economy out of weak periods has some high-profile supporters, including Democratic presidential candidate Bernie Sanders and maverick New York Rep. Alexandria Ocasio-Cortez.

Its detractors, a group that includes some leading progressives including Paul Krugman, worry the idea could create hyperinflation by injecting so much cheap money into the economy.

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