Fed says it is “puzzled“ as to why it’s policy is not having an effect. 
Read More »Classic monetarist reflex selling of the market today.
A strong economic number, jobs, and monetarists sold the market. 
Read More »MMT — the key insights — Lars P. Syll
As has become abundantly clear during the last couple of years, it is obvious that most mainstream economists seem to think that Modern Monetary Theory is something new that some wild heterodox economic cranks have come up with. That is actually very telling about the total lack of knowledge of their own discipline’s history these modern mainstream guys like Summers, Rogoff and Krugman have.New? Cranks? Reading one of the founders of neoclassical economics, Knut Wicksell, and what he wrote...
Read More »Inverted yield curve insanity.
More than five years in, no recession and growth still strong, they’re still saying the inverted yield curve is forecasting recession. 
Read More »Today was a great day in the market.
To practice self discipline.
Read More »Let government transfers declined further in the last week.
Transfers to the non-governmental sector are still falling. 
Read More »Atlanta Fed revises Q2 GDP down for a fifth time. 
I predicted this from their very first forecast. 
Read More »Senior mainstream economist now admits central banks are not as independent as many believe — Bill Mitchell
The UK Guardian published quite an odd article the other day (May 30, 2024) by Mr GFC Spreadsheet Fudge Man Kenneth Rogoff – Why policymakers are more likely to risk high inflation during periods of economic uncertainty – which essentially claims that economic policy has been conducted for several years by institutions that do not meet the essential requirements that are specified by the mainstream New Keynesian macroeconomic approach, upon which the institutions have claimed justification....
Read More »Odd posts from Warren Mosler claiming “crowding out.”
Investment boom, crowding out consumption.— Warren B. Mosler (@wbmosler) May 31, 2024 Odd "X" posts from Warren Mosler recently talking about "crowding out." He says business investment is "crowding out" personal consumption. This is an odd claim because crowding out is not a condition that would be claimed under MMT understanding, where money is a function of demand and where there is no theoretical limit to its creation. (Under a free-floating FX regime.)If business spending rises and...
Read More »GDP growth revised down again just like I said.
Stocks will fall as the economy slows. 
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