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I hereby nominate this as "ET post of the year." :D

What a horrible thing to do to innocent kids!

from this am's Bloomberg.

You're correct. They did embark on a "balance sheet 'normalization' program" in Oct 2017. but it first involved not reinvesting principal payments on their holdings.

politics???? Maybe you should keep your ignorance to yourself.

That's true. The had started to sell bonds, removing money from bank reserve accounts and pushing rates up, and then Covid hit.

You were responding to Sig here, but I want to take this opportunity to encourage you to read my somewhat long response to you and study it, because I think it will help you get over the notion that a swollen balance sheet of assets will eventually be a problem for the Fed. Consider that those...

OMG, he is in so much deep doo doo. Did you happen to hear what the Fulton County, Georgia, D.A. is doing!? Shes going after him on RICO charges in conjunction with the election, and she's hired what many think is the top RICO prosecutor in the country to empanel a grand jury. Yikes!

QE was made possible by our much better understanding of money than we had in first half of the 20th Century. Bernanke and Draghi were both at MIT when Samuelson was there. They would have held similar views at that time, and subsequently both would have had to revise and evolve their views...

I don't know if Sig wants to engage you on this "box" topic, but I would. Let's begin with your stating clearly exactly what you mean by "box". In other words, in what specific way do you believe the Fed is boxed in?

I think you would benefit from reading Soros. His lectures at the Central European University available on Amazon go into asset bubbles in considerable depth, in particular their causes. We will continue to have them, and they have nothing to do with Tarp. It is the other way around. Tarp was a...

If you are right, you should be able to project how long it will be before the U.S. qualifies for Chapter 11. I'd be very interested in what you come up with. Just use the same reasoning you would as if looking at personal finances. That will be good enough. :D

You live in California. Do your part by volunteering to pick fruit on weekends.

It is understandable that people look at the growing "national debt" and view it from the perspective of their personal finances. We just need to keep in mind that finances for a nation with its own fiat money are very, very different from personal finances.

Thank you. There is absolutely nothing to disagree with here! Nor is there anything in the least inconsistent with what I have posted. It is refreshing to have you respond in substance. Check back with me in 18 months, and lets see whether I'm right about the effect of tremendous goosing of...

Actually I am just a humble student of economics. My mentor is a well known, in his field, Rutgers - Harvard trained economist, and he says I am his best student. But I know it is just in jest. I hope you'll find that comforting. I'd be interested in your own take , since you do have...

It's true that government uses the word "debt" but the meaning for "government" in the abstract, is not at all the same as the meaning of that word to you in the private sector. Imagine you had a money machine in your basement and any time you needed money you could get it, as much as you...

If trump were not a liar, a gangster, a criminal and an incompetent JACKASS, he would be at net positive approval rating.

And don't forget to mention those liberals running the child sex ring out of a back room in a pizza parlor.

Really now! You may volunteer to pay your debts back with dollars worth more in buying power than the ones you borrowed, but I prefer not to. If we were a creditor nation, then a little deflation might be just fine. But under the circumstances, and since we are a nation that runs on credit, I...