An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Yellen just talks trash to make the Republicans think their deficit theory is important. What is really important is that we hope she really does not believe what she is patronizing .... that paper recessions are such that paper is more important than providing liquidity to main street ... something the banks did not do instead they carry traded to Argentina Turkey South Africa...
We all live in a Yellen submarine; A Yellen submarine ... A Yellen submarine ...
Now only about 49B below last FY at this time, but 37b of this is from Oct and Nov (shutdown...) so starting to play catch up here in February short term....
This is the beginning of the first peak of tax season. I've been in this business for the past 15 years. February will probably be the biggest for refunds for individual taxes. People who know they are getting a big refund due to Earned Income Tax Credit (EITC) are among the first to get their returns filed. People who are going to owe the IRS generally wait until mid-March or April, the second peak.
good point John, those people who then owe, will have to pay the tax out of savings so if the balances are in savings or paid in taxes they are both "leakages" (metaphor) and are of no help...
the "help" comes from transfers from the govt to non-govt sector... which is illustrated as the amounts we see as WITHDRAWALS on the right side of the DTS... the left side (deposits) is not relevant nor is the relationship between the left and right sides relevant other than to account for savings which is a "leakage" (metaphor) if you will...
10 comments:
I told you outlays are bigger this time of year.
Obi 1 obama
Yellen just talks trash to make the Republicans think their deficit theory is important. What is really important is that we hope she really does not believe what she is patronizing .... that paper recessions are such that paper is more important than providing liquidity to main street ... something the banks did not do instead they carry traded to Argentina Turkey South Africa...
We all live in a Yellen submarine;
A Yellen submarine ...
A Yellen submarine ...
Now only about 49B below last FY at this time, but 37b of this is from Oct and Nov (shutdown...) so starting to play catch up here in February short term....
rsp
Finally some good-ish news.....I'll bet $30 billion will buy a hell of a lot of furniture come Monday :)
This is the beginning of the first peak of tax season. I've been in this business for the past 15 years. February will probably be the biggest for refunds for individual taxes. People who know they are getting a big refund due to Earned Income Tax Credit (EITC) are among the first to get their returns filed. People who are going to owe the IRS generally wait until mid-March or April, the second peak.
good point John, those people who then owe, will have to pay the tax out of savings so if the balances are in savings or paid in taxes they are both "leakages" (metaphor) and are of no help...
the "help" comes from transfers from the govt to non-govt sector... which is illustrated as the amounts we see as WITHDRAWALS on the right side of the DTS... the left side (deposits) is not relevant nor is the relationship between the left and right sides relevant other than to account for savings which is a "leakage" (metaphor) if you will...
rsp,
"We all live in a Yellen submarine"
Right, G
Problem is, that all of our supposed friends are on-board with this fantasy cruise. :(
Ship of fools
With all these refunds, it's a shame that taxpayers couldn't have kept more of that money in their pockets and bank accounts in the first place.
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