3 ms·
> Because the debt is now due? The so-called Modern Monetary Theory (MMT) credibly posits that because the U.S. borrows in its own currency (dollars), it can s
by dctoedt 3y ago
> Because the debt is now due?
The so-called Modern Monetary Theory (MMT) credibly posits that because the U.S. borrows in its own currency (dollars), it can simply "print money" as needed — as long as the U.S. economy has sufficient unused productive capacity to absorb the resulting increase in demand. [0]
[0] https://www.nytimes.com/2022/02/06/business/economy/modern-monetary-theory-stephanie-kelton.html https://www.nytimes.com/2022/02/06/business/economy/modern-m...
- pydry 3y agoMMT is basically modern day heliocentrism - objectively correct, but threatening to established wealth and power structures and therefore Wrong.