FA — Financial Advisor
Is Fiscal The New Monetary?
Nicola Mai, portfolio manager and a sovereign credit analyst and Peder Beck-Friis is a portfolio manager, both at PIMCO
Wednesday, August 28, 2019
Is Fiscal The New Monetary? — Nicola Mai, Peder Beck-Friis
FA — Financial Advisor
Is Fiscal The New Monetary?
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3 comments:
"Curiously, no mention of MMT."
The ONLY reason fiscal may be being looked at is that Trump has taken direct action against the perennial export USD zombie surplus nations policies thru tariffs and other threats of executive action ... Trump acting in support of perennial deficit US's domestic employment and production..
The perennial surplus USD zombie nations are having to start to come up with a contingency Plan B if Trump reelected...
It has nothing to do with MMT climate nutters...
It’s good to see yet another article echoing the views of the two “know nothings”: Blanchard and Summers (which I’ll shorten to “BS” – no apologies offered for the overtones and insinuation there – ho ho)
Re the BS claim that “debt is more affordable in the current low interest rate environment”, that’s BS because even if interest rates are high, government and central bank always have to power to simply print money and spending it (and/or cut taxes). Indeed, that’s exactly what several large Western economies have done over the last 5 years or so in the form of QE.
In short, BS don’t have the faintest idea what’s going on in the World.
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