"To which a rational response is that almost never you are able to cut back on social spending once you increase it." You can once you have actually understood

"To which a rational response is that almost never you are able to cut back on social spending once you increase it." You can once you have actually understood MMT. How is the price anchor managed under MMT theory? How does that work during a boom and thereby solves the problem you posit? What are the three system stabilisation mechanisms in MMT theory? MMT suggests moving the stabilisation policy from the market for money to the market for labour and leaving the market to determine interest rates. That stops the current problems - price gouging, SME decimation, boom/bust in construction and increased mortgage rates.