FYI: You will find few full-throated defenses of modern monetary theory on Wall Street today, except when you turn to James Montier, the independent-minded strategist at GMO, the $67 billion Boston money manager. Montier’s view was refined amid Japan’s collapse in the 1990s; since then, he has found MMT to be a good model for governments’ interactions with the market. Recently, Montier provided Barron’s with a helpful definition of MMT, chatted about why he prefers Monty Python’s Eric Idle to former Treasury Secretary Larry Summers, and why he’s still waiting for a decline in the U.S. stock market. Read the following edited excerpts for more.
Regards,
Ted
https://www.barrons.com/articles/q-a-with-gmo-strategist-james-montier-51564059600?mod=past_editions
