Michael Snoyman on Nostr: I read half a book on Modern Monetary Theory. I couldn’t stomach more. The basic ...

I read half a book on Modern Monetary Theory. I couldn’t stomach more. The basic premise was “since we print money as a nation, debt isn’t a problem because we can always print more money,” with some caveats about inflation as if it was a crazy extreme corner cases of money printing we’d have to try really hard to hit.

The scariest thing about the book: if you grant the premises of Keynesian economics and the veracity of fiat currency, the conclusions make perfect sense. Just shows how absolutely insane the current monetary order is.