Just how is this magic created? The spurring of demand in the midst of a covid-created depression. The wizards at the Fed and Treasury have created an intoxicating frothy brew for stock and home buyers alike.
Syndicalism is a method of attack by organized labor for the attainment of certain political ends. It requires widespread acts of destruction on "capitalist" institutions as a means of ushering in a socialist regime.
Proponents of modern monetary theory have come up with their own idiosyncratic definition of savings in support of their theory. But the common usage of the term shows MMT doesn't work the way its supporters think it does.