It will be interesting to see whether, in tonight’s debate, any of the other candidates call Sanders out for his utterly impractical giveaways, which could be financed only by fairy dust or, perhaps, modern monetary theory. Which, come to think of it, is about the same thing.
Finally, let’s hope someone will remind Bernie Sanders of this prescient quote from 2011:
These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who’s the banana republic now?
To be fair, Bernie has a point about Venezuela. When inflation runs at one million percent per year, incomes are all pretty much equal–to zero. Chalk up another success for modern monetary theory: it equalizes incomes!