ABSTRACT. Phenomenalism, as has often been observed, is an untenable position because it is committed to there being barely true subjunctive conditionals. In this paper I argue that all anti-realists are committed to there being such conditionals, and so if phenomenalism is untenable because of this, so too are all other anti-realist accounts. I first argue that all anti-realists are committed to some instance of a schema ANT. I then argue that they are committed to a particular definition of a key term within the schema that contains a barely true subjunctive conditional.