GMO’s Montier: Bearish on Stocks but Bullish on Monetary Theory

In a recent interview with Barron‘s, GMO strategist James Montier shared his concerns about the U.S. stock market and his bullish view on modern monetary theory (MMT), which he has found to be “good model for governments’ interactions with the market.” Here are some highlights: Montier breaks MMT down into the following components: “Money exists because it’s created by the state. The U.S. dollar has value because you have to pay taxes in it.” “If… Read More