Friday , September 18 2020
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Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

Mosler Economics

Loans, interest margins

Business precautionary draw downs of lines of credit caused the spike, followed by a contraction as operational needs contract: Growth in real estate loans is slowing: Consumer borrowing dropped with the stimulus checks and then has flattened: Pause, recovery, and then a leveling off:

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Personal consumption, personal spending, rig count

Settling down as fiscal transfers subside, but still elevated: Income falling faster than consumption is growing: Real Personal Income less Transfer Payments Transfer payments decreased by $70 billion in July, but were still $1.7 trillion (on SAAR basis) above the February level. Most of the increase in transfer payments – compared to the level prior to the crisis – is now from unemployment insurance. However, there will be sharp decline in unemployment insurance in...

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Job postings, Bank loans

Falling off again: After a typical precautionary draw down of credit lines, business loan growth turned and remains negative: Total bank credit has gone flat: Consumer borrowing is down, partly because of fiscal policy, and partly due to reduced spending: Real estate lending has slowed, but not by a whole lot:

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