
Douglas Padgett
Macro researcher and founder of Applied MMT, known for applying Modern Monetary Theory to fiscal flow analysis and market forecasting, with work on system-dynamic forecasting tools.
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Apr 2, 2026 • 1h 22min
The Macro Model You are Using is Probably Broken
Douglas Padgett, macro researcher and founder of Applied MMT, blends Modern Monetary Theory with system-dynamic forecasting. He explains how government spending creates private financial assets and drives profit cycles. The conversation covers fiscal acceleration metrics, treasury flows, private credit cycles, and why fiscal flows can predict markets and assets like Bitcoin.


