Modern Monetary Theory Fails

[Martin Hash]

Modern Monetary Theory (MMT) was hypothesized in the beginning of the last century; it’s the idea that a government can print in infinite amount of money without adverse effects, and is the basis of Bidenomics. Not scrutinized too closely, it seems to make sense, but it has one glaring problem.

Money is a stand-in for real things; people don’t earn money for money’s sake, they accumulate it for what they can exchange it for. Capitalism guarantees money will concentrate into the hands of a very few; at some point, they are going to want to convert their money into things. There may be infinite money but there’s not infinite things, so eventually, prices will rise as the monied oligarchs try to buy everything with their limitless money, just like we’re seeing now.

[SuburbanFarmer]

‘Money’ is infinite. Value is not.