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> If this isn't handled right, all of us in the US will have to face the consequences of no longer being the world's reserve currency

And this, ladies and gentlemen, is why MMT does not work. Budget constraints are a thing after all, whowouldathunkit.



I don't understand how so many smart people are convinced that MMT makes sense.


They managed to convince themselves via a combination of wishful thinking and basic economic illiteracy - that's all there is to it.


MMT DOES make sense, as long as you are careful to qualify who it's making sense for. If you are a congress person with a very short term time horizon MMT makes a whole bunch of sense. Incidentally, our country is run by congress people with very short term time horizons.

If you are anybody else besides maybe a defense or infrastructure contractor MMT does not make any sense.




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