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Tuesday, April 28, 2020

Fiscal Response


Slow to develop:



State unemployment offices incompetent:




IRS incompetent:




I'm sure the Trump admin did not expect this much incompetence from the govt bureaucracy which is SNAFU as usual...

So its still hard to determine if the Treasury's current TGA policy (short term $600B increase)  is intentional or not... it could be that Treasury has increased the rate of issuance in anticipation of a withdrawal rate in excess of what the bureaucracy could deliver...

The recent record high TGA balance in excess of $1T could just be coincident to an unanticipated delay in the authorized increases in fiscal transfers... we don't really know what the policy is...

And the Art Degree journos in the fake news are too stupid to know what questions to ask... so no help there...

If withdrawal rate starts to finally increase one of these weeks....  and this is not matched by Treasury increase in rate of issuance and TGA really collapses by $100Bs...we're gonna want to observe what happens to risk asset prices in response...



22 comments:

  1. I'm sure the Trump admin did not expect this much incompetence from the govt bureaucracy which is SNAFU as usual... Franko

    Actually, a just economic system would require MINIMUM government - almost by definition - see ancient Israel during the time of the Judges.

    And a just economic system would, per the Bible, certainly not include government privileges for usurers. Nor would it allow unlimited land ownership by either private entities nor by government (Sorry Tom Hickey and other socialists).

    And, of course, a proper government would consist ONLY of the BEST people that could be obtained, not the less worthy workers implicit in a JG. Then government would consist of people like Daniel and other wise administrators.

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  2. “ Then government would consist of people like Daniel and other wise administrators.”

    Hey AA,

    Any info in there on how he achieved maximum employment with stable prices for Nebechanezzer back in the day?

    Maybe check to see if he had the Mede Treasury increase the Mede general account drachma for drachma to offset the drachma Reserve Assets of the Babylonian fiscal agents...

    Report back to me here if you find anything out.... thx!

    ReplyDelete
  3. I'm sure the Trump admin did not expect this much incompetence from the govt bureaucracy...


    TRUMP: And again, when you have 15 people, and the 15 within a couple of days is going to be down to close to zero, that’s a pretty good job we’ve done.” — February 26

    TRUMP: And I’ve gotten to know these professionals. They’re incredible. And everything is under control. I mean, they’re very, very cool. They’ve done it, and they’ve done it well. Everything is really under control. -- February 29

    TRUMP: So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths. Think about that! -- March 9

    TRUMP: And we’re prepared, and we’re doing a great job with it. And it will go away. Just stay calm. It will go away. -- March 10

    TRUMP:And then I see the disinfectant, where it knocks it out in one minute. And is there a way we can do something like that, by injection inside or almost a cleaning, because you see it gets in the lungs and it does a tremendous number on the lungs, so it’d be interesting to check that, so that you’re going to have to use medical doctors with, but it sounds interesting to me. -- Last week!

    And for the kill the orange imbecile added right after...

    TRUMP: So, we’ll see, but the whole concept of the light, the way it kills it in one minute. That’s pretty powerful."

    The "light" in question is ultraviolet C. C!!! Exposure to UVC kills. Of course before it kills you, it blinds you first. Just saying for the record

    Indeed, much government incompetence, Matt.

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  4. Holy cow Greek! I have HVAC firms throwing proposals at me to install UVC elements in the returns of my systems right now!

    You better call the FBI quick Greek!!!!

    Get on it! or the RCMP! somebody!

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  5. The nerve of these people:

    https://www.achrnews.com/articles/141736-how-hvac-can-help-prevent-the-spread-of-contagious-diseases

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  6. "Holy cow Greek! I have HVAC firms throwing proposals at me to install UVC elements in the returns of my systems right now!"

    UV-C Light Bulb

    Currently unavailable.

    Due to increased demand, we temporarily have reduced product selection available for delivery to your region.


    https://www.amazon.com/Germicidal-Disinfection-Sterilizer-Bacterial-Replace/dp/B07DN2RRQY

    Matt, please tell me you didn't :(

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  7. ofc not I think the whole thing is a hoax...

    Double Triggers!!!!!!

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  8. Like this they go INSIDE the air handling system:

    https://www.americanultraviolet.com/hvac-air-duct-system.cfml


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  9. Or like this one Trump was talking about you stick it down the ventilator tube:

    https://www.thegatewaypundit.com/2020/04/media-mocks-trump-suggesting-light-treatment-coronavirus-patients-bio-tech-company-working-fda-cedars-sinai-uv-light-treatment-kill-virus-patients/

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  10. Stick it down, shove it up - more figurative language?

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  11. The straightforward parsing of Trump's words, in the context of the press conference, do indeed suggest he was talking about liquid disinfectant. He was talking about light, then said "and then I see the disinfectant", the "and then" suggest some sort of contrast to the earlier comment, and the only use of the word "disinfectant" prior to then had been in reference to household liquid disinfectants. But then he finished up with light.
    There is ambiguity and wiggle room. It's clear Trump was referring to some earlier conversations when he said, "And then I said".

    If Trump meant the UV light catheter ventilator thing, why not say so? He could have owned the libs and said, "C'mon you idiots, of course I wasn't talking about liquid disinfectant. Maybe I wasn't clear, but I was talking in the past tense. I had been briefed prior to the presser on new potential treatments and I was talking about light the whole time." Maybe mention that device and he's cleanly off the hook.
    But instead Trump gave an obvious lie for an excuse, ducked out of the press conference Friday without answering questions and then hid for the weekend. Looks guilty af.

    I think it's just his dementia progressing, which directly affects his language abilities. He mangled the sentence he was trying to say, and it's impossible to truly know what he was talking bout. He might not even know.

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  12. He thinks his open hostility to the fake news (all moron unqualified Art Degree journos ) helps him politically...

    It works with me for sure ...

    I would vote for him just because his exchange with these losers from yesterday:

    https://twitter.com/rudytakala/status/1255190083319279616?s=21

    I would vote for him right there... that is the type of person I want representing me...

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  13. That whole “disinfectant!” thing is viral on the right...

    Every time he gets into it with the fake news like this his popularity on the right increases in intensity...

    We hate those people...

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  14. Joe: I think it's just his [Trump] dementia progressing...

    Joe, you're too kind ;) Now I don't know if Trump has early stages of dementia, but, man, I don't think there was ever an American president as ignorant, incompetent, imbecilic, and narcissistic as he is.

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  15. well its working:

    https://twitter.com/SecretsBedard/status/1255516757839745024?s=20

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  16. The point remains, if trump hadn't said something colossally stupid, why be in damage control mode for 3 days?

    I obviously can't say if Trump has dementia but he displays severe neurological symptoms. I've collected dozens of video examples (I watch a lot of Trump cause he's hilarious and it's fascinating to have the most powerful person in the world suffering from a degenerative disease). He has prominent phonemic paraphasia (which is often caused by lesions in the temporal lobe), agramatticism, muscle spasms, some trouble walking at times, and bouts of getting mentally lost (like when he conducted the orchestra during the national anthem, wandered away from Netanyahu or wandered from his limo and had to be retrieved by an aide).

    Sure seems likely to be some form of frontotemporal degeneration, or maybe an atypical presentation of Alzheimer's (which his father had), or maybe it's side effects of drug abuse, who knows.. my money's on nonfluent primary progressive aphasia, he has the symptoms.. it got especially bad back in February, when he couldn't get through the 8 minute Iran speech without spasming all over the place, but it seems to have gotten a bit better, although I haven't been watching lately. He's almost certainly on some sort of treatment for it. It's possibly why he's so big on right to try, because he's on experimental treatments.

    During the disinfectant debacle he also butchered his grammar later on when he said "I would like you to speak to the medical doctors, to see if there's anyway you can apply... light... and heat... to cure." The primary feature of agramatticism is slowed speech as the patient struggles to properly structure the sentence, which ultimately he failed to do in this instance.

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  17. Good points, Joe, but I'll stick with "I don't think there was ever an American president as ignorant, incompetent, imbecilic, and narcissistic as he is." In fact, I'm doubling down ;)

    Trump cuts U.S. research on bat-human virus transmission over China ties

    The National Institutes of Health on Friday told EcoHealth Alliance, the study’s sponsor for the past five years, that all future funding was cut.


    https://www.politico.com/news/2020/04/27/trump-cuts-research-bat-human-virus-china-213076

    YoungLab @ProfPaulYoung

    This is just new levels of stupidity. It is through the EcoHealth Alliance that we know so much about potential emerging viruses from bats in China. Trump cuts U.S. research on bat-human virus transmission over China ties https://politi.co/2KETSuN via
    @politico

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  18. Lastgreek: these aren't mutually exclusive lol, no real argument from me on those.
    Trump is a fascinating human. He's at the end of several distributions. A very disordered individual, yet simultaneously a very gifted conman.

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  19. “why be in damage control mode for 3 days?“

    He’s not in damage control mode the fake news is just teeing it up for him... his base loves all of this...

    GOP voter motivation at all time highs...

    Trump approval in GOP at 96%...

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  20. Wait until all of these Russiagate arrests start... timing is everything...

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  21. The really stupid thing about all this is Trump thinking he’s coming up with something original that needs to be said. Why does he think he needs to prod medical researchers about what they need to think about? Like they are going to say “Yeah, we never thought of that !!!”

    That UV light therapy is soooooo experimental but is certainly worth exploring. We’ve always known UV light kills bacteria and viruses. It also burns us

    Any technology that involves placing an element that might become heated into an oxygen rich environment like an ET tube has the potential for disaster. Airway fires are a real hazard .

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