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I agree on the premise that as long as Joe Biden is President (alive), he will stonewall anything truly progressive.

Hell, it seemed like half the executive appointments during the Obama term went to Goldman Sachs alumni - why would a Biden term be any different? A former GS executive just gave $100K to Biden - one of many GS Biden contributors. Thus far, Wall Street has given Biden $50M +++ compared to $10M...

Eurodollar curve says "No". Common sense says "Hell No". COVID has done grave damage to World economies and there is no chance that the Fed, the ECB, or the BoJ raise rates in 2021. None. Zero. Do you think that COVID will be in the rear mirror and the economy will be in hyperdrive? If...

:p Any novice with half a brain who bought and held since 2009 has done incredibly well. o_O

If you trade enough interest rates you learn that the cheapest-to-deliver is usually the most "callable" or desirable to buy back by the Treasury in terms of cash flows (clean price).

Treasuries roll coupons all the time. Treasuries call or buy back higher yielding debt and issue new lower yielding debt when the interest rate environment allows for it. It is a core tenet of their operational mission. When the US sold very high yielding 30 Year Bonds and 10 Year Notes in the...

Wall Street is not "worried" about Joe Biden - they've bought and paid for him. And Joe knows how to take care of his financial overlords - just ask the credit card companies. Hell, look at who will be running the Treasury for Biden (Jamie Dimon-JPMChase). And Wall Street is very good at...

Yeah, I was referring to "outside" as currency and debt in circulation or being held outside the native country. Dilution is the real risk factor IMO.

Unless we're no longer going to import and export goods and services, and we are no longer going to sell our debt to outside investors - then it remains that the "outside" money is the weak link in MMT. If an economy radically dilutes it's currency and it's bonds the valuations go down and...

Yeah this is all about European and US COVID cases spiking. Newsmax is as biased as The Atlantic, Vox, Buzzfeed, Slate and the other rags.

In many ways this Vox piece is indicative of modern journalistic practices. It puts forward a point that underscores a particular political agenda but it trivializes the considerable nuance and it glosses over the glaring problems involved with MMT. There is no search for the entire truth, no...

Great article, and I very much appreciate it. I think it's important to add some counterbalance. MMT is by no means a universally accepted tenet. The Vox article is really, really good at explaining MMT and what it might mean in terms of making more social welfare programs like guaranteed...

To be fair, building hotels in China and importing branded Chinese goods for resale is more entrepreneurial than sending your crackhead kid to collect bribes in the form of phony board remuneration fees and “loans” with no repayment terms. And I do think that government business should NOT be...

I think you give our professional political class far too much credit. Eight years of Obama didn't really accomplish much of anything other than destroying the health insurance system for single payers and the self-employed. Trump didn't really accomplish much other than appointing a shit ton...

Your profile says you're from Ireland, but you seem to like to disparage Americans. Your demagoguery aside, the fact is that both parties have been lining their pockets with loads of private equity and Wall Street cash for decades now. The 2020 Democratic Party is at present in the back pocket...

For some context, the Czech Republic, Belgium, the Netherlands, Switzerland and France are all reporting record numbers of new covid cases - and all hospital ICU's across the world will have to prioritize care.

Yeah, right. :vomit:

The push for globalization among all the elites in Washington started in the very early 1990's. It was a strongly held universal dogma on both sides of the aisle. Every economist of note clamored for it. Offshoring all those jobs to China would force that Country to become a free and open...

https://www.ecb.europa.eu/home/search/html/index.en.html?search=peter+james+rhys+morgan+ Ooops, no bueno. https://www.ecb.europa.eu/pub/html/index.en.html https://europa.eu/european-union/about-eu/agencies/eba_en No bueno Working papers have not been peer-reviewed, but they let the reader...

You too can self-publish anything and if you submit it to the European University Institute a librarian will dutifully catalog it and include it in their online and physical library. I looked at ten of those listings and they were everything from books to two page policy briefs...