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Monetarist theories are so blatantly contradictory that it’s ridiculous. 
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Mike Norman considers the following as important:
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Monetarist theories are so blatantly contradictory that it’s ridiculous. 
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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NewDealdemocrat writes JOLTS revisions from Yesterday’s Report
| Monetarist theories are so blatantly contradictory that it’s ridiculous.  |
They just did
I didn't see anything reported on the debt ceiling in this bill, did you?
@@mikeydoggy "WASHINGTON (AP) — The House passed legislation Tuesday to avert a partial government shutdown and fund federal agencies through September, providing critical momentum as the measure now moves to the Senate, where bipartisan support will be needed to get it over the finish line."
This is what the Associated Press said on the subject. Hopefully the Senate passes it soon.
@@Cos_Why_Not it passed the house narrowly, now goes to senate and it needs democrats support.
@@Cos_Why_NotThis CR doesn't address the looming debt ceiling crisis long-term. The House did pass a separate budget resolution in late February 2025 proposing a $4 trillion debt ceiling increase (to $40 trillion), but that’s not part of this CR. This stopgap simply keeps government operations running without new borrowing authority, meaning the debt ceiling issue will likely resurface soon—potentially in a separate reconciliation bill, as hinted by Speaker Mike Johnson.
Debt ceiling is such nonsense. The bilge pump is a great analogy.
You do a great job explaining MMT
The value of the dollar is determined at the FOREX auction. It depends on how the traders feel about the Government. Currently, they think the US has an insane criminal running the show. That is why the dollar is dropping.
😂. Good one
Trump also said inject bleach to cure covid, Trump saluted a north korean general, Trump is in over his head Dump Trump and his S African self proclaimed savior of US.
Our allies and enemies will by pass the US trade, and trade outside US loop, thanks for undoing what took 80 yrs to gain advantage Mr. Trump.
Thanks Mike. Want you to know I'm here listening, it's not falling on deaf ears.
we need a new bilge pump
Spot on Mike!
❤
Do you know the YouTube creator David Lin? He has like 250k subscribers and they all seem to be Austrian type gold bugs/crypto bros who think MMT is rubbish. Warren Mosler just did a good interview on his channel and you would not believe comments on the video
I think Norman means MACK truck. A MacTruck is a Cybertrukk
The first tomato cost $1000. Gets more economical as you go. Let it rip Mike!
Not sure about the USA banking system, but here in New Zealand government spending adding to reserves does not change the CAR. Here bank reserves are counted as zero-risk assets, 0% risk-weighted, like Tsy securities. So the "need" to buy Tsy securities is just the usual desire for a higher interest income. Nothing more. We also do not have a debt ceiling rule, so we don't care how much government spending is stored as Tsy securities, except for the political rhetoric nonsense (the Deficit Myth used by clowns to bash each other over the head with since they think it "wins votes", when in reality it is always high unemployment that loses votes.)
How is it exactly you guys need this bilge "pump"? Since if you are on Basel II(?) even the leverage ratios are not changed, since here in NZ, or when on Basel II, aren't both TSy securities and reserves are both unweighted assets in leverage ratio calculations?
I still think the systemic risk is just lower consumer spending due to macro effect of drop-off in fiscal flow injection systemically, and so higher unemployment, all needless, hence a needless production slow-down. Nothing to do with the reserve swap. Disaster Techno-feudalism strategy by the Mars King and cronies. Tesla might go under soon, so he needs some sort of scam while his sticky smelly fingers are on government fiscal buttons.
Yeah, @11:20 while the monetarists are all wrong, a high interest rate can appreciate the currency, that'd work for say Japan, obviously, now there's a higher demand for the yen. The problem is stability or lack thereof. Japan has no problem with trust. The USA now does. If foreign traders believe the interest rate will rise further in the near future, they might delay purchasing government securities, waiting for better yields. This hesitation reduces immediate foreign capital inflows, weakening demand for the domestic currency, leading to depreciation in the short run.
On the other hand, some investors might speculate ahead of the expected hike, buying the currency early to position themselves for higher future yields. This could cause early appreciation, even before rates officially rise.
Yet again, if traders interpret an unstable policy as a sign of weak control — possibly leading to inflation or financial instability — this could reduce confidence in both government bonds and the currency. In this case, investors may demand a higher risk premium, or even move funds elsewhere, causing depreciation.
So at the present time one can understand reactions might cause an overall fx depreciation. I don't know anyone with a rational model for fx though. Ultimately the fx rate is irrelevant. The "value" of the US$ is determined by the monopoly issuer, the US government. They tell you what you need to do to get the US$ (one way or another through a soup of policies). On a floating exchange rate the effect of an fx depreciation (or appreciation) is a shift domestically between who wins and who loses, the net effect is negligible. If you are in a specific sector, say you trade currencies and guess wrong, then sure, you are a big loser. But someone else wins. The US government could still run full employment with no inflation risk. They just choose not to.
I just realized you can click on the "national debt" it says what it is
With all due respect its not just you clapping back at monetarist but I thank you for your work and education your give
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What?!?! This guy has never heard of DEBT TO GDP. The devaluation of money by printing will lead to hyperinflation. Brother you don’t know what you’re talking about.