Sealwifhat

Weekend

Reminder, before I sign off for the weekend:

It doesn’t matter if the Fed cuts or not. It only matters that they don’t have to hike, and that the economy doesn’t slow precipitously. As long as we stay out of those tail scenarios, we’re good.

I love that one of the criticisms of MMT has been that 'There's nothing new there. Economists already know all that.' Yet they can't answer basic questions every MMTer could answer in their sleep.

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Many still stuck in the mindset where they think tweaking QT is stimulative. They imply two things that seem logical in theory but don't hold in reality: One, that tweaking QT makes a discernable difference to the level of yields; and, two, that that difference in yields will…

Geiger Capital Even more insane is that you don’t realize you’re in the same boat as him (possibly worse?!) when it comes to understanding monetary mechanics!!

Watch the rest of that movie and you’ll see how these tweets are just as insane 😂

In other words, MMT believes that it's fiscal deficits that can be inflationary, not the funding mix of those deficits. Helicopter bond drops can thus be as inflationary as helicopter money drops. And I think that, in today's highly liquid financialized world, they are correct.

I don't think MMT concurs with this at all. This is a monetarist view that sees the liquidity of people's savings as a key determinant of whether they choose to spend. MMT, I think, takes the keynesian view that it's the volume of their income that determines how much they spend.

The overwhelming majority of economists or strategists/investors on Fintwit asked this question would respond roughly the same way as he did.

Everyone has an opinion on MMT, but very few understand monetary operations enough to formulate intelligent criticism.

Марк один з кращих макро аккаунтів США фінтвіту
Кому цікаво почитайте про сому QT якого усі боялись не проблема для ринку

Markets do, Dow:

Argy banks just workin'. $BMA $GGAL

'Crypto is so so much more than speculation. When will everyone start to see that, you ask? Soon. We're building. It's coming.'

Oh, look. More Trump fraud.

GOOLSBEE: FOMC didn't have advance look at the jobs data.

$TSLA can't hold a bid. That fanboy premium shrinking fast.

Bottom line: The data were firmly 'No change. Stay the course.' But they did probably kill off--at least for now--the incipient talk of rate hikes being back on the table.