Valid point, but there are also billions of dollars created out of thin air by the Federal Reserve to pump up the stock market, and perhaps that deserves some media attention as well.
The fed can step in and bail out Wall Street by printing money only so many times. Eventually by papering over the small disasters, they make the eventual collapse of the whole system a certainty.
You are right but they have only one tool left and that is to print money. Which is what the Fed has been doing for 18 months and why the stock market is only up and up as all this money is chasing equities. We are really about to find out what MMT can and can't do. If it can't, we could end up in a depression (not recession).
Err.. I mean, according to them, they are expanding the pool of money available, by buying out the junk bonds issued by corporate America. The same bonds from the cheap loans that they took out at super low interest rates, in order to buy back their shares, thus increasing their stock value, and enabling them to give millions of dollars in bonuses to their executives. While everyone else, gets an unpaid furloughed vacation and unemployment.
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