by Summary:
Fed can't help the unemployed, but this idiot, Paul Tudor Jones, thinks so. But what he's really whining about is the Fed not helping his trade. 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 Mike Norman Economics: https://mikenormaneconomics.blogspot.com/
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Fed can't help the unemployed, but this idiot, Paul Tudor Jones, thinks so. But what he's really whining about is the Fed not helping his trade. 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 Mike Norman Economics: https://mikenormaneconomics.blogspot.com/
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Robert Vienneau writes Books After Marx
Matias Vernengo writes Elon Musk (& Vivek Ramaswamy) on hardship, because he knows so much about it
Mike Norman writes How to Cut Trillion in Federal Spending Without Breaking a Sweat Stephanie Kelton
Lars Pålsson Syll writes Klas Eklunds ‘Vår ekonomi’ — lärobok med stora brister
| Fed can't help the unemployed, but this idiot, Paul Tudor Jones, thinks so. But what he's really whining about is the Fed not helping his trade. 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 Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ |
Is he shorting bonds?
I'm absolutely sure he was, and got squeezed in the rally.
@Michael Norman I've always wondered if many big hedge fund guys like Tepper , PTJ, The Druck, might have achieved their success from having obtained some type of inside information rather than just being able to beat the market on their own. Either that or they were just lucky with big bets and the public puts them on pedestals because they assume it to be mostly skill rather than mostly luck.
Mike one of the biggest problems we have. Try talking mmt or economics to the average person. They don't want to hear about it they don't want to know about it and some people actually got hostile. It's a real shame
Did you ever think that all the wars since then were financed with the economic theory you espouse. Too bad. If not for easy money to finance was such as Viet Nam, lots of good men would be alive today.
@R Krone mmt is just an accurate description of how the monetary system operates in reality. What people choose to do with that system I have no control over and I do not advocate for war
@Danny Windham To your credit, you don’t advocate for war, but an unlimited expense account creates to opportunity to engage in one. Something is wrong with that system.
@R Krone it's not the system the system can be used for good or bad. The problem is there is profit in war. Somehow the profit motive must be removed that's the problem
@Danny Windham The people at the top who are pushing and benefiting from MMT are the ones making the profit on wars and expanding reserves. Read about the Cantillon effect. These are the largest asset holders in society who rely on MMT policy to keep their assets going up. The poor and middle class get the crumbs. That’s how this system works. But to effectively incentivize the workforce not to work, the effect is to further deindustrialize our economy. Then the Real MMT fans, the wealthiest among us pulling the strings will have a real party.
The working homeless are tired .
us0
vun.fyi
I’m not a hedge fund guy. I’m own a small manufacturing plant in rural Southern Illinois trying to keep the doors open while few want to come back to work. The hedge fund guy that you refer to has a disgusting point of view. But you as a speculator of financial assets are part of the same hypocrisy. Are you going to come in and save all the businesses that have died as a result of the policies you support? I don’t think so. You are as incorrect as he is. That’s my opinion for what it’s worth.
@R Krone Look, you're working in a capitalist system, so your business is under capitalist pressures, so I can't blame you for that. But you gotta understand, those wages are absolute dogshit in this economy.
@Max0r847 Nobody forced my employees to work for me. They did so because it was their best option. I would estimate that 1/4of my employees are ex-felons. 1/4with substance abuse issues, and 1/4 disabled. The others are in higher paying management positions. I try to help these people find a life with dignity and self respect. What is “dog shit” to you may be a lifeline to them. My business cannot sustain a large wage increase or we run out of funds to buy input resources. This is how capitalism works. There needs to be cash flow and profit…. Unlike MMT theory for governments. Would you suggest that we shut down and let these people return to a life of misery? They’ve been there and done that.
@R Krone You're caught between a rock and a hard place, because the people at the top keep taking more and more for themselves, leaving smaller businesses and armies of unemployed fighting amongst each other for the scraps. This will continue to get worse. You're right. It's how capitalism works (as intended).
@Max0r847 this is where we disagree. I think this is how MMT works. Not capitalism. I want to use capitalism to make strong profits so I can share with these employees. I don’t want to be given anything but with a labor pool ready and willing to work so I can ship orders, I can increase the wages for all. The way it is now, customers leave us never to return and we slowly die.
@R Krone THEY'RE PRINTIN' MONEY!!!! PRINTIN MONEY!!!!!!!!!!!!!!!!!!!!!!!
Mike Norman rants are epic!
Wall street is net short duration bonds, even people who I admire like Michael Burry, they're caught with their pants down. That's why they're all complaining.
However there can be a case for inflation harming people as well, low interest rates benefit financial assets more than it benefits the working class. The unprecedented increase in residential property prices is going to lead to 15% increases in rent and that's going to hurt a lot of people. Maybe the fed should cut their MBS purchases/swaps.
I like to think that inflation is asynchronous across segments: scalable products like Financial & Real Estate that any individual can buy at unlimited quantity esp if u have easy capital access vs. Consumables that has a limit to how much an individual can digest. The reason why hyperinflation has not panned out despite the liquidity flood is you cant be eating x2 the food even if u are x2 richer, but u can do the same for financial assets etc. Rich hedge fund experts immersed themselves daily with the latter and flowery statistics from desktop while rarely interacting with prices of the former on the ground. As such, they are caught up with the illusion that recent general price increases are going to worsen due to easy money. There is no reason for fed to raise interest rates, which doesnt address the inflation situation today and is only going to hurt commoners access and reliance on those scalable aasets for a living (housing and retirement).
@Leon I agree with not hiking rates but why buy 40 billion of MBS a month?
hey Mike, will give us your MMT take on Steven "the bond king" van mestres latest video? I can't wrap my head around what he's saying https://youtu.be/bouZPFdJ1kw
I love ya Mike. But what does Paul Tudor Jones 'own'?
7 billion USD according to Forbes.
Yep. Money.
Great MMT Report today!!!! Mike is "over the top" and our team of traders who value everything we have learned and appreciate the "second to none" hard work Mike puts in are killing it!!!! Learn with us! Earn with us! Help others! Peace
All mainstream media figures are only part of a divide and conquer truth mission.
Epic!!! You gotta love Mike's passion for the good fight!! Hoorah!
Can you discuss the velocity of money?
"Masterclass on SARS-CoV-2."
https://www.youtube.com/watch?v=ZJ0MYmKY8_U
Mike is pissed off and rightly so. It demonstrates the mindset of elements of the financial sector. That scene in Margin Call said it all for me when Will Emerson is driving with Seth in his Aston Martin and said 'F*ck normal people'. That changed me right there as I knew then what they are and what they stand for. But equally, then you see Buffett and think that there is still some good people in that sector.
I found the exact scene: https://www.youtube.com/watch?v=2f2kGHcdJYU
Paul Tudor Jones comes from one of the richest southern familys in the USA . He’s a Dunevent.
Yeah. I know.
I guess Fed chief Powell is going to say don't worry about inflation? I know he never missed a meal in his life. The people at the fed live in a different world than the average Joe.
Tell us what direction the market is moving, not your political views.
Hedge fund managers as a group aren't good investors, as the hedge-fund industry's overall returns are consistently and considerably lower than market benchmarks. What they are good at is collecting lots of money from rich people. That is how they make their money, not from trading.
It's always fun to watch these oligarch types kick down on the poor. They just have to do it on principle.