Midway MMT becomes compared to infinite money printing, where in MMT they actually seems to have a hard upper limit based on productivity.The argument that some government official think that you can just dump a couple of billion into the market in case of a recession seems to confuse MMT with QE. Is mainstream economics bogus? For me, pretty much yes (not an offense to you two as you are clearly more clever). But the math is awful and whenever something happens outside of the book they throw up their arms in the air and shout that no one was able to predict it. That just does not go well for me, you either understand the system or you don't. Besides the mainstream is telling us Greece is saved where it clearly is not. Comparing hyperinflation numbers is completely meaningless in my opinion because that is more of a political trust problem and once you go into that zone all bets are off the table and nothing makes sense any more. Edit : If the government is in direct control of the money, that would have to mean the end of the fractional reserve system, otherwise they would not have control.