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US Politics 11w
Once again gonna plug this book because it really changed my view of the world. Even if you only read the first couple chapters which are free online
5 upvotes, 3 comments. Sidechat image post by Anonymous in US Politics. "Once again gonna plug this book because it really changed my view of the world. Even if you only read the first couple chapters which are free online"
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Anonymous 11w

Sure, but dedollarization is happening as we continue to deindustrialize. The chickens will come home to roost, and the window for unlimited deficit spending is sharply closing as our leadership behaves an increasingly erratic and untrustworthy manner. Even if we accept the mmt premises, structural inflation caused by a reliance on foreign imports would still be a major roadblock to actionability

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Anonymous replying to -> benjamin.rush 11w

MMT only concerns the fact that countries that issue debt their own sovereign currencies (US, UK, Japan, etc) are not constrained by debt but rather by real factors like labor and physical supplies. How industrial or how dependent on imports is immaterial

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Anonymous replying to -> OP 11w

That’s a misunderstanding of real constraints. MMT acknowledges that a sovereign currency issuer can buy anything for sale in its own currency. If a nation deindustrializes & has to buy critical physical supplies on the global market priced in foreign currencies (or from nations that won't accept a depreciating US$), it hits a hard bottleneck. Industrial capacity is exactly what determines how high that spending ceiling actually is. Import dependency is a major constraint on MMT

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