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Politicians on both sides of the Atlantic are once again talking about rolling back banking regulations to kick-start growth. This article is a timely reminder of why those regulations exist.MMT101.ORG - Learn Modern Monetary Theory (MMT)
Where was this play in the Art degree Keynesian free market fundamentalism playbook? I thought the Canada people were just supposed to add the tariff onto the price of the products? Instead they are removing the products from inventories… going to create a glut of these products in the US and US prices are going to fall to get rid of it … no “inflation!”… 🤔
Canada’s biggest province said it will remove American products from its government-run liquor stores as part of its response to President Donald Trump’s 25% tariffs on Canadian imports https://t.co/a2sCx4ajuE
— Bloomberg Economics (@economics) February 2, 2025
LOL … then according to Art degree monetarists they should reduce the rate to figure of speech “counter the headwinds!”.. which is what Trump wants them to do in the first place…
We read the transcripts of the Fed's 2019 meetings so you don't have to, and here's the main takeaway: The headwinds they felt from Trump's tariffs were strong https://t.co/57LOVFGjbn
— Bloomberg Economics (@economics) February 2, 2025
Looks like DOGE/Elon trying to reduce top line by $1T by September… US GDP $27T/yr…. So no multiple that’s a direct 3.7% …
I guess they think they’re only reducing govt spending on unnecessary regulatory activities or something… climate nutter stuff etc… maybe the “Argentina model”… 🤔
Reducing the federal deficit from $2T to $1T in FY2026 requires cutting an average of ~$4B/day in projected 2026 spending from now to Sept 30.
— Elon Musk (@elonmusk) January 31, 2025
That would still result in a ~$1T deficit, but economic growth should be able to match that number, which would mean no inflation in…
He seems to understand the Art degree figure of speech “money!” as rather a scientific abstraction:
The real economy is not money, it is goods & services.
— Elon Musk (@elonmusk) January 31, 2025
Money is simply an abstract representation of real things. https://t.co/mmOHBdTmkr