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.
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Monday, October 26, 2015
Latest "Debt Ceiling" hijinks
Looks like they might kick it way past the next election.
They are selling oil (bought at 100/bbl) from the SPR to fund it. (While the Chinese build 10m bbls each month in storage to buy oil at 50/bbl.) They are selling airwaves. And "securing the social security trust fund". According to CNN anyway.
this is good news, but hard to believe they'll do it with no spending cuts.
ReplyDeleteThey are selling oil (bought at 100/bbl) from the SPR to fund it. (While the Chinese build 10m bbls each month in storage to buy oil at 50/bbl.) They are selling airwaves. And "securing the social security trust fund". According to CNN anyway.
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