Although Professer John Hearn advised me today that taxes and land prices play no part in cost-push inflation, because cost-push inflation is a myth, I’m sorry, I can’t quite believe that, Professor Hearn.

We regularly witness land price bubbles bursting into economic recession. You might say that, in the absence of effective government fiscal action, economies are left to ‘correct’ themselves – that is, to deflate. (But that’s probably your “natural business cycle”, Prof?)

However, from what are land prices deflating if not from the excessive land price inflation that inserts so much financial damage into world economies at regular intervals?

And you don’t understand MMT, either, Dr Hearn?

So, you wouldn’t see the case for VIMMLBUTT in the upcoming financial depression?

That’s a pity.