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Hey, Jeff...there's no such thing as "unfunded liabilities." Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman
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Hey, Jeff...there's no such thing as "unfunded liabilities." Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman
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| Hey, Jeff...there's no such thing as "unfunded liabilities." Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman |
Here is not as broke as Mike Norman
I read that “unfunded liabilities” are a big problem for states and localities. They are required to invest/save up enough in advance to pay retirement pensions. And unfortunately, they can’t create fiat!
These should be paid by new federal dollars either through the old Regan idea of “revenue sharing” or by expanding social security to make it enough to actually retire on!
Yep, instead of using MMT to prop up capitalist hegemony via warmongering, asset class inflation, and real estate feudalism/imperialism, MMT should be used for the benefit of EVERYONE, states, locales, people.
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its a key stroke ..well give everyone a gazillion dollars you cheap asses lol
There isn't a gazillion dollars worth of stuff for me to buy. There isn't enough new cars produced – today – for every household to run out and buy two cars. There isn't enough filet mignon. There's a shortage of new housing. A lot will be built this summer, but that takes time.
Yeah, yeah, yeah, blah blah blah, Nothing on the UFC???
Grumpy Gundy
This is how governmet really works ))))
https://www.youtube.com/watch?v=dvYvQeNeq3A
Michael, thanks for excellent videos. I agree that fiscal creates the money at the first place. But can you also comment on 2 things, should we keep an eye on those too? 1) Do private bank lending also create money? 2) Do eurodollar lending process also create money?
They DO talk about national assets, Mike!
Trump ran on paying off the natl debt in 8 years. By reneging and…
SELLING INFRASTRUCTURE.
Art of The Deal, baby! ???
So around $120 trillion was spent on Treasuries.
THEY'RE SPENDING MONEY?!!!
Where's the hyperDEFLATION fetishists, lol.
… And then that $7T spread is like 8% of global GDP.
USA is…
#PlayingWithHouseMoney of ?.
Taleb never made money!!
HI Michael – are you planning to make MMT course on some point?
Can you explain the difference between USA economy vs some other countries that have had massive inflation (eg Venezuela…)
I'm not going to go into a lot of detail because you seem pretty smart to be on here in the first place.
Can you describe any differences between the actual economy of Venezuela and the actual economy of the United States? Such as what they produce?
Mike do you think gold prices will follow commodity prices?
All bond traders are gloom and doom.
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Jeff Gunlachhhhhhhhhhhh is worth over 2 billion. Maybe Mike can explain how this guy is making money. Amazing.
He made all his money charging 2/20 fees from stupid people who invest money with him. That's how most of these hedge fund types make their money. They hardly ever beat the market. Check their performance from the last 12 years and you will see that very few active managers generated any alpha. If you had invested according to Gundlach's commentary over the years (like shorting bonds in 2018) you would've lost a shit ton of money. Someone from JP Morgan made a chart about his predictions (and other doom and gloomers like Peter Schiff and Nouriel Roubini) and they have been losing money consistently for 11 years.
@Luis Fernando Alves Jeff Gunlach must be a genius then to convince people to invest with him. That's over 2 Billion of net worth.
@Arm tash Yes. His firm has a lot of AUM across all strategies they offer (more than $10 billion I believe). Most of them are shit strategies though. 0 alpha, 0 edge. But if they charge 2% fees/year, they make 200 million dollars a year regardless of what happens. You do that for enough years and you become a billionaire. It's not that hard. The hard part is convincing fools to give you their money, which – to his credit – Gundlach has excelled at.
They charge fees regardless of performance (and when they outperform the benchmark they charge additional fees). So basically they get paid no matter what happens. It's a very good business model, that's why a lot of these hedge fund managers are rich as fuck. Very few of them have a good track record against the S&P however. Most people would have been better off just buying SP500 ETFs like Buffet says. You end up making more money that way. When you invest with Gundlach and other clowns, you are the one making them rich, not their performance.
High debt to GDP ratios are deflationary.
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Alan Greenspan has verified Mike’s statement here several times.
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Is it possible that the bond traders are saying one thing and taking the contrarian position in their actual holdings and making money off of lying to people?
https://twitter.com/PeterSchiff/status/1390776845956796420?s=20 schiff Gundlach
Mike you should do MMT stand up. I'm crying! ?. Guuuuunnnnddddlllaaachhh
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