MMT is not based on facts about the world as it is, but on conjecture, ergo it is not factual. The old lie is that sovereign entities (note the deep and old ro

MMT is not based on facts about the world as it is, but on conjecture, ergo it is not factual. The old lie is that sovereign entities (note the deep and old roots of that term in feudal societies) can debase their currencies with zero consequences. Usually this works well for a long time, until all of a sudden it doesn't.