MMT, Modern Monetary Theory… is just that, a “theory”… and I believe a very flawed theory. Here is but ONE example. You can’t print money with impunity… Debt doesn’t matter until it does…
It’s not just housing, fuel, food, utilities—the average transaction price of new vehicles sold in June hit a new stratospheric record high of $45,844, up 14% from a year ago.
As automakers continue to struggle with shortages of key parts and semiconductors in particular, inventories remain near historic lows.
Dealers handled the shortages by charging more than list price and filling their lots with only the most expensive vehicles loaded with as many options as possible—and that’s how the ATP (average transaction price) jumped to a new record.
Since June 2019, the ATP has spiked by 36%, or by over ten grand per vehicle! (Chart by wolfstreet.com, data by JD Power)
