Tuesday , November 5 2024
Home / Mike Norman Economics / Jared Dillian — It’s Dumb To Have No Gold Amid All Of This

Jared Dillian — It’s Dumb To Have No Gold Amid All Of This

Summary:
A bit of ideological bias at work influencing view of causality, namely, that austerity is expansionary because saving funds investment? I suppose that if Modern Monetary Theory (MMT) were implemented, foreign exchange markets would have their say about it (provided we still had floating exchange rates). Do you think it is a coincidence that the two biggest bull markets correspond with government austerity? I do not. And tell us what happened after the two biggest bull markets? MMT explains why.Hint: The expansion was funded by unsustainable private debt that culminated in Ponzi finance as Hyman Minksy's finanical instability hypothesis would predict. MMT develops this explanation in terms of the crucial difference between a sovereign currency issuer and users of the currency that have

Topics:
Mike Norman considers the following as important: , , , ,

This could be interesting, too:

Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.

Steve Roth writes MMT and the Wealth of Nations, Revisited

Matias Vernengo writes On central bank independence, and Brazilian monetary policy

Michael Hudson writes International Trade and MMT with Keen, Hudson


A bit of ideological bias at work influencing view of causality, namely, that austerity is expansionary because saving funds investment?
I suppose that if Modern Monetary Theory (MMT) were implemented, foreign exchange markets would have their say about it (provided we still had floating exchange rates).
Do you think it is a coincidence that the two biggest bull markets correspond with government austerity? I do not.
And tell us what happened after the two biggest bull markets? MMT explains why.

Hint: The expansion was funded by unsustainable private debt that culminated in Ponzi finance as Hyman Minksy's finanical instability hypothesis would predict. MMT develops this explanation in terms of the crucial difference between a sovereign currency issuer and users of the currency that have to obtain it to meet obligations.

Seeking Alpha
It's Dumb To Have No Gold Amid All Of This
Jared Dillian
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *