>>" MMT may even be right in theory but in practice may be entirely unrealistic. " I don't know what that mean. Or a theory is better than the current one expl

>>" MMT may even be right in theory but in practice may be entirely unrealistic. " I don't know what that mean. Or a theory is better than the current one explaining facts or it's not. That's the scientific method. >>"[..] US's reserve currency status [..]" We know what the neo-keynesian predicted for Japan monetary policy of the last 25 years (high inflation, high interest rates), and we know that it's not what happened. >>"And how does MMT solve for the various asset bubbles ongoing including the real estate bubble in Australia or perhaps the stock bubble in the U.S." It totally does. Because the central banks are buying financial assets, they are crowding out institutional investors to other kind of assets up the chain and pushing prices up. Note, that MMT doesn't support QE. They just predicted what would happen.