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Bammer · **Posted:** Sat January 27, 2024 5:46 am

Vitalogist wrote:

I’m still getting used to the personalities on this site, but it seems like Bammer is just saying stuff to mess with people? Is that right? I feel like I might be missing something.

How much time do you have?

Vitalogist · **Joined:** Fri October 27, 2023 1:30 pm **Posts:** 479

I’m all ears

McParadigm · **Joined:** Wed January 02, 2013 1:56 am **Posts:** 21863

As some of the world’s biggest economies stumble into recession, the United States keeps chugging along.

Quote:

Both Japan and the United Kingdom said Thursday their economies likely weakened during the final three months of 2023. For each, it would be the second straight quarter that’s happened, which fits one lay definition for a recession.

Yet in the United States, the economy motored ahead in last year’s fourth quarter for a sixth straight quarter of growth. It’s blown past many predictions coming into last year that a recession seemed inevitable because of high interest rates meant to slow the economy and inflation.

Give much of the credit to U.S. households, who have continued to spend at a solid rate despite many challenges. Their spending makes up the majority of the U.S. economy. Government stimulus helped households weather the initial stages of the pandemic and a jump in inflation, and now pay raises are helping them catch up to high prices for the goods and services they need.

On Thursday, a report showed that fewer U.S. workers filed for unemployment benefits last week. It’s the latest signal of a remarkably solid job market, even though a litany of layoff announcements has grabbed attention recently. Continued strength there should help prop up the economy.

4/5 · **Joined:** Thu December 20, 2012 4:45 pm **Posts:** 6667

McParadigm wrote:

Government stimulus helped households weather the initial stages of the pandemic and a jump in inflation, and now pay raises are helping them catch up to high prices for the goods and services they need.

This sentence is rough with basic economic misunderstanding.

BurtReynolds · **Posted:** Fri February 16, 2024 7:47 pm

Everything is going great!

Alex · **Joined:** Fri August 16, 2013 6:36 pm **Posts:** 5699

--- · **Joined:** Tue February 12, 2013 5:03 pm **Posts:** 2413

MFer doesn't even know how bonds work, hopefully this is AI

BurtReynolds · **Posted:** Fri May 03, 2024 4:34 pm

I almost posted that. amazing clip

Bi_3 · **Joined:** Wed April 20, 2016 7:11 pm **Posts:** 14303

BurtReynolds wrote:

I almost posted that. amazing clip

Seems like there is some context missing. Was he trying to explain MMT?

--- · **Joined:** Tue February 12, 2013 5:03 pm **Posts:** 2413

BurtReynolds wrote:

I almost posted that. amazing clip

"Why does the government borrow in a currency it can print?" is a good question with a straightforward answer:

They borrow in a currency they can print because fiscal policy isn't monetary policy, and each is a tool with a purpose different from the other. The treasury "borrows" to meet fiscal needs, and primary dealers/member banks need not be a part of the transaction (though they can be, as potential buyers of the treasury notes). The Federal Reserve "prints" - conducts open market operations - to manage inflation. "Printing" takes the form of providing liquidity to intermediaries - the primary dealers/member banks - and the fractional reserve nature of our banking system expands (or contracts, as need be) the money supply 10x to meet whatever the current goals of monetary policy may be.

In fairness, it's confusing because at base, bonds and dollars are both debt-based. The fiscal and monetary waters are very muddy.

--- · **Joined:** Tue February 12, 2013 5:03 pm **Posts:** 2413

Bi_3 wrote:

BurtReynolds wrote:

I almost posted that. amazing clip

Seems like there is some context missing. Was he trying to explain MMT?

Yeah, that's what it looks like it to me.

MMT: spending isn't a problem because we can borrow, borrowing isn't a problem because we can print, printing isn't a problem because we can tax, and taxing isn't a problem because we can spend.

It's all so tiresome.

--- · **Joined:** Tue February 12, 2013 5:03 pm **Posts:** 2413

"I think the Chair of the US Council of Economic Advisers should understand competing economic theories."

96583UP · **Joined:** Sun September 15, 2013 5:50 am **Posts:** 22507

yellen gonna sweep the treasury floor soon

pump our bags, baybayyyyyyyyy

Does anyone care about the economy?

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