Thursday, February 2, 2023

Revolver: Sorry Zero Hedge, For Better or Worse the US Dollar Will Remain the King of Currencies

Nice troll of the dumb ZH monetarists… 

Revolver people:

It is the empirical fact of apparently lucrative borrowing in one’s own currency over the last thirty years that underlies the Biden administration’s confident experiments in fiscal irresponsibility. If you talk to intelligent economists who endorse “Modern Monetary Theory,” you often find that it boils down to the above fact and does not contribute a single new insight that would justify the Biden administration’s recent fiscal choices. Nonetheless, unemployment is falling, real wages are only falling slowly, and the U.S. appears in no risk of a depreciation-driven debt crisis).

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