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Deliberate. Coordinated. Global Recession. — Stephanie Kelton

Summary:
In early August, I made the following observation. Reading the replies, I noticed that a handful of people thought I was claiming that a cabal of global elites was engaged in some backroom conspiracy to join in a collective effort to crush the proletariat. I wasn’t. What I was actually saying was that policymakers were (nearly) all leaning hard in the same direction at the same moment in time—tightening both fiscal and monetary policy—and that the predictable outcome would be a synchronized contraction....The LensDeliberate. Coordinated. Global Recession.Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of

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In early August, I made the following observation. Reading the replies, I noticed that a handful of people thought I was claiming that a cabal of global elites was engaged in some backroom conspiracy to join in a collective effort to crush the proletariat. I wasn’t. What I was actually saying was that policymakers were (nearly) all leaning hard in the same direction at the same moment in time—tightening both fiscal and monetary policy—and that the predictable outcome would be a synchronized contraction....
The Lens
Deliberate. Coordinated. Global Recession.
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
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.

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