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.
At least they fired the incompetent traders and ousted Dudley at the Fed. Mnuchin, Williams and primary dealers seem to be getting their act together. Would be funny, with all the talking heads calling for doom, if nothing happens. Getting the incompetent neoliberal market fundamentalist and progressive activist holdovers rooted out out of regulatory positions makes the whole system work more smoothly while preventing actual financial risks.
"incompetent neoliberal market fundamentalist and progressive activist holdovers"
Theyre all Monetarists Ryan... the whole Monetarist dogma schtick is a big continuing reification error... they dont understand the Accounting science and have to resort to reifying their figurative language like "money!" is real or something....
Here: "Last December U.S. banks still had plentiful excess reserves to lend" like Reserves are real or something and banks "lend them out!".... this is the way they think...
" when excess reserves are shredded through taper" ????
"daylight overdrafts were the shock absorber" ?????
"– its portfolio of excess reserves was the “Bakken Shale” of global dollar funding markets"
Its endless....
Go thru this article and count the figures of speech used.... you probably have to give up after a couple of paragraphs too many to count...
USD Reserve assets at the Depositories should top out this week a bit above 1.6T then reduce starting Monday with the quarterly taxes and Treasury auction.... Reserve add to Depositories this month has been enough to cap the equity rally but not yet enough to cause any big sell off... may not come to that ... next week or so we'll see...
Watch if the MMT people comment on this they'll say something like "the myth of QE4!" or something like that... they will bring "myth" into it thinking that is going to help or something... lock it...
3 comments:
At least they fired the incompetent traders and ousted Dudley at the Fed. Mnuchin, Williams and primary dealers seem to be getting their act together. Would be funny, with all the talking heads calling for doom, if nothing happens. Getting the incompetent neoliberal market fundamentalist and progressive activist holdovers rooted out out of regulatory positions makes the whole system work more smoothly while preventing actual financial risks.
"incompetent neoliberal market fundamentalist and progressive activist holdovers"
Theyre all Monetarists Ryan... the whole Monetarist dogma schtick is a big continuing reification error... they dont understand the Accounting science and have to resort to reifying their figurative language like "money!" is real or something....
Here: "Last December U.S. banks still had plentiful excess reserves to lend" like Reserves are real or something and banks "lend them out!".... this is the way they think...
" when excess reserves are shredded through taper" ????
"daylight overdrafts were the shock absorber" ?????
"– its portfolio of excess reserves was the “Bakken Shale” of global dollar funding markets"
Its endless....
Go thru this article and count the figures of speech used.... you probably have to give up after a couple of paragraphs too many to count...
USD Reserve assets at the Depositories should top out this week a bit above 1.6T then reduce starting Monday with the quarterly taxes and Treasury auction.... Reserve add to Depositories this month has been enough to cap the equity rally but not yet enough to cause any big sell off... may not come to that ... next week or so we'll see...
Watch if the MMT people comment on this they'll say something like "the myth of QE4!" or something like that... they will bring "myth" into it thinking that is going to help or something... lock it...
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