Pensions are double entry accounters over a 60 yr cycle.

So, in 2030 I can  get my final revision to the real price of a 1973 Toyota.

Pensions are by law, custom, and contract long term 'asset = liabilities', counting tools. There is residual longer term error, but pensions capture the largest chunk of spectra, the monetary cycle. They apply a continual price neutral pressure over the smaller recession cycles. Pensions are responsible for neutralizing the Nixon Shock, in particular.

But they get two clerks stuck in line, a loop, a vacuum (or hedge appears). We are finite, combinatorial. We rescale constantly, and when the pensions block the rescaling process we get  the MMT moment. Each time we MMT, then we have the hysterical rule that Newton's grammar must apply, this time.