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If he is acquitted in any of the upcoming trials before the election, AND he is not convicted in any, he has a chance. But in no universe would he win by a landslide. (polls show Biden ahead but within the margin of error) He barely squeaked by in 2016, lost badly in both the mid term...

Although I think, for the reasons I have stated above, that if Trump somehow manages to get himself elected (I don't think he will), whoever becomes Trump's running mate will be the next President as soon as Trump resigns. I just doubt, for many reasons including Trump's white nationalist...

RamaSwamy is exhibiting all the hallmarks of a smart, talented grifter. Someone who could actually sell Kirby Vacuum Cleaners door to door and make a good living at it. For example he's running for Vice President, while pretending to run for President. You'll see him sucking up to Trump more and...

This is virtually certain to prove wrong. Even Switzerland has finally recognized the untenable nature of trying to tie a currency to gold. Today this idea, born of a time when people lugged around sacks of gold, is recognized as lunacy; despite J.P. Morgan having once said, "Money is gold...

Of course the government does pay interest on its Securities. This is treated like any other non-discretionary expense. If the expense can be paid from tax revenue there is no net new issue of Securities associated with its payment. But if the payment can't be made from tax revenue, then the...

Errata in post #61 above: The government issues bonds for entirely different purposes then than the raising of money to spend. ...but QE was wasn't the causing printing, it was the other way around.

You're a smart guy so I doubt you read carefully enough what I wrote. It's Ok. I know you don't like long posts. But if you ever want to try and understand MMT or modern government finance, you can always look up my post. Or you can read the, by now, voluminous literature on the subject. Or...

There is a lot of misunderstanding here. Most Americans, including most politicians, yourself and all but a handful of ET posters believe that taxes furnish the revenue the government uses to buy what it wants, and when there is not enough revenue the government borrows the difference from the...

I think you are mistaken. QE is NOT Printing! In QE private sector owned bonds are exchanged for money. The net amount of total money (bonds + currency) in the private sector is unchanged. It is only the ratio of Bonds to currency that changes,or said another way, "The ratio of...

well, you have two things here that in the U.S. are not usually related, though we see constant attempts to relate them. "Printing" itself does not lead to expanded money supply as you and most others here think -- indeed as nearly all Americans think. (I have explained why over and over, but...

Business cycles typically last around two decades unless something major interrupts them. Fed observers must therefore be very patient. This works against our natural inclination to be impatient.

Generally speaking the Fed doesn't cause inflation. Its mandate is to prevent it. Although everyone thinks that printing money causes inflation, in the U.S. it hardly ever does. This is because the Congress's printing of Money, which the Fed facilitates on behalf of Congress, is nowadays...

You were writing this stuff in April of 2015. You could not have been aware that the fed would start a long series of 25 basis points hikes by December (I believe) of 2015. And as I think I said would eventually happen. The Fed would finally begin to first stop growing its balance sheet and...

I only wish I were still capable of being as cogent, right-on and coherent in my posts as I was in 2015. Of course exactly what I anticipated would happen eventually did happen. Naturally, in 2015 no one could have predicted the Covid Pandemic, nor the extent of the eventual fiscal response to...

This would possibly be of interest to you: https://www.newyorkfed.org/research/current_issues/ci19-1.html

In truth the money committed to helping Ukraine defend itself against Russian invasion is small compared to the combined financial power of the nations helping Ukraine. None of them will be "bankrupted" over their support of Ukraine.

And it hasn't "bankrupted" itself yet. Eventually, however, the U.S. could have a problem related to it's failure to tax sufficiently at the margin. Failure to tax sufficiently at the margin has become endemic in the U.S. This is not good as it both threatens democracy and long term stability...

Why wouldn't you?

I was not jesting.

This is an extremely interesting contribution to ET, so thank you. I too, however, couldn't read the attached file.