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.
“and just knowing how frustrating it was for Bernanke at the time to be pushed into QE3 — which I don’t believe he wanted to do, I think he got pushed into the open-ended bond buying. Which is basically just the Fed shoving the chips all in and saying: “If our fiscal partners aren’t going to get in the game, that leaves us the only game in town.”
There is no (public) evidence of any of that.... and it’s not “the Fed shoving the chips all in” this is another figure of speech... what is that policy action in literal terms?
There are negative regulatory effects of Fed risk free asset purchases on Depositories .... she may not be aware of any of that... there is no public evidence that she (or the Fed people for that matter) are aware of any of that...
Absence of evidence is not evidence of absence ... but there is no evidence that she or the Fed people fully understands the regulatory effects of Fed asset purchases...
It’s more important that the Fed exhibit this understanding they are in the policy making positions...
“ In other words, he didn’t want to end up like Bernanke, where the Fed is asked to do more and more for longer and longer because they can’t get Congres to provide enough fiscal support to be a partner in bringing about a recovery.”
The current fiscal response was completely the Trump admin idea... as was the current ZIRP policy...
From mikes latest:
“ Total spending thru June 25, $5.06T. This is a new record and there is still 3 months left in the fiscal year. Spending is up $1.28T over last year and growing at 34% y-o-y. The deficit as of June 25 was $2.28T. This is the largest nominal deficit in history and 10.6% of GDP. If you use Q2 GDP forecasts the deficit may be as much as 19% of GDP.“
UNPRECEDENTED + 34% Fiscal response from Trump admin.... SO FAR!
This was not Powell’s idea.,,, When all of this started all Powell was doing was making the depositories insolvent by putting $100Bs of Res Assets on the depository balance sheets and risk asset values were in free fall...
Comment on Tom Hickey on ‘An economist explains the biggest myths about the national deficit — and how we can save the economy — Cody Fenwick’.
Walrasianism, Keynesianism, Marxianism, Austrianism, MMT, and Pluralism are materially/formally inconsistent and therefore scientifically worthless.
Stephanie Kelton, MMT’s emotional anchorwomen, tells the ninety-percenters that public deficit spending is good for them, while the opposite is the case.#1, #2
MMT is provably false because MMTers are too stupid for elementary algebra. #3, #4, #5
And the philosopher Tom Hickey has not realized anything but happily promotes proto-scientific garbage.
These scientifically incompetent deranged folks claim to save the economy. As the saying goes, You cannot make this stuff up.
7 comments:
“and just knowing how frustrating it was for Bernanke at the time to be pushed into QE3 — which I don’t believe he wanted to do, I think he got pushed into the open-ended bond buying. Which is basically just the Fed shoving the chips all in and saying: “If our fiscal partners aren’t going to get in the game, that leaves us the only game in town.”
There is no (public) evidence of any of that.... and it’s not “the Fed shoving the chips all in” this is another figure of speech... what is that policy action in literal terms?
There are negative regulatory effects of Fed risk free asset purchases on Depositories .... she may not be aware of any of that... there is no public evidence that she (or the Fed people for that matter) are aware of any of that...
Absence of evidence is not evidence of absence ... but there is no evidence that she or the Fed people fully understands the regulatory effects of Fed asset purchases...
It’s more important that the Fed exhibit this understanding they are in the policy making positions...
“ In other words, he didn’t want to end up like Bernanke, where the Fed is asked to do more and more for longer and longer because they can’t get Congres to provide enough fiscal support to be a partner in bringing about a recovery.”
The current fiscal response was completely the Trump admin idea... as was the current ZIRP policy...
From mikes latest:
“ Total spending thru June 25, $5.06T. This is a new record and there is still 3 months left in the fiscal year. Spending is up $1.28T over last year and growing at 34% y-o-y. The deficit as of June 25 was $2.28T. This is the largest nominal deficit in history and 10.6% of GDP. If you use Q2 GDP forecasts the deficit may be as much as 19% of GDP.“
UNPRECEDENTED + 34% Fiscal response from Trump admin.... SO FAR!
This was not Powell’s idea.,,, When all of this started all Powell was doing was making the depositories insolvent by putting $100Bs of Res
Assets on the depository balance sheets and risk asset values were in free fall...
That’s econ2020
Comment on Tom Hickey on ‘An economist explains the biggest myths about the national deficit — and how we can save the economy — Cody Fenwick’.
Walrasianism, Keynesianism, Marxianism, Austrianism, MMT, and Pluralism are materially/formally inconsistent and therefore scientifically worthless.
Stephanie Kelton, MMT’s emotional anchorwomen, tells the ninety-percenters that public deficit spending is good for them, while the opposite is the case.#1, #2
MMT is provably false because MMTers are too stupid for elementary algebra. #3, #4, #5
And the philosopher Tom Hickey has not realized anything but happily promotes proto-scientific garbage.
These scientifically incompetent deranged folks claim to save the economy. As the saying goes, You cannot make this stuff up.
Egmont Kakarot-Handtke
#1 Stephanie Kelton’s legendary Plain-Sight-Ink-Trick
https://axecorg.blogspot.com/2019/01/stephanie-keltons-legendary-plain-sight.html
#2 Down with idiocy!
https://axecorg.blogspot.com/2017/12/down-with-idiocy.html
#3 The sectoral balances obfuscation: stupidity or corruption?
https://axecorg.blogspot.com/2019/10/the-sectoral-balances-obfuscation.html
#4 MMT sucks
https://axecorg.blogspot.com/2018/12/mmt-sucks.html
#5 Your economics is refuted on all counts: here is the real thing
https://axecorg.blogspot.com/2020/06/your-economics-is-refuted-on-all-counts.html
In fact Powell was on board with this whole “leverage our equity!” thing....
Powell is NOT a “Good guy” in any of this....
He announced his major regulatory mod AT 5:45 PM ON A FRIDAY DURING A VIRUS PANDEMIC ...
If you are a “good guy” you don’t try to hide your failures...
AX they are not doing science they are doing dialogue/reason.... They are trained on the other side of the academe...
Just watch what happens...
Here’s Arnold:
https://twitter.com/comewithme2lift/status/732039617537552386?s=21
“EXPOSE your weak points”
Mental game...
You don’t expose your weak points by publishing them on a Friday at 5:45 pm during the apex of a viral pandemic...
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