Sorry, but it's a doomsayer, tinfoil hatters' failure to understand MMT. Here's one of Bernie Sanders' economic advisers explaining it:
I wasn't the one who downvoted you but as a fyi... this particular article is about corporate debt. MMT is about government debt.
When non-government entities such as businesses and consumers take on too much debt that they can't service, bad economic things happen.
The Fed will be pressured to reduce interest rates because corporations are playing Russian roulette too-big-to-fail brinksmanship and will expect a bailout as per usual.. an action the majority undertake will always be excused in a democracy because of political pressure.
The private sector wants Government bonds. If they won’t buy all of them at the interest rate the Government wants to sell them for, there’s no practical reason they can’t just sell excess bonds to the central bank (except for silly policy in some countries).
But yeah, the parent comment is confused, corporate debt (and private debt in general) is the real looming threat to worry about in a currency-issuing country that only issues bonds denominated in their own currency (such as the US) - not the Government deficit or debt.
Let me stop you right there.