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Today, out of nowhere, Janet Yellen the Treasury Secretary, says interest rates probably have to go higher. NOT HER JOB! 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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Today, out of nowhere, Janet Yellen the Treasury Secretary, says interest rates probably have to go higher. NOT HER JOB! 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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| Today, out of nowhere, Janet Yellen the Treasury Secretary, says interest rates probably have to go higher. NOT HER JOB! 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 |
Are these contradictory statements by Yellen and Powell a a tug of war between Fiscal policy, and Monetery policy?
Agreed !
They are doing everything they can you keep the lie going it's a simple as that
Which lie is that?
@NoExitLoveNow the LIE of the government like a household
@Danny Windham Fair enough. That said, raising interest rates is not something a household can or would do.
They're dropping hints, rates will be going higher.
Yellen will influence the Fed by making such comments.
You're such a fool
Total incompetence.
🙂
Luckily Jerome Tenure is till January 31, 2028, hopefully he would keep pumping this shit.
on todays show Mike Norman explains why old man Sleepy Jo Hiden Bo Biden doesn't even know where he is half the time, and is totally lost on an AMTRAK train to the retirement home followed by his guide dog who wants to bite everyone hahahaha…
https://www.youtube.com/watch?v=mUGI5iVII2Q
I have heard you say before that the following equation isn't reflective of the MMT reality, but it still seems to me like it does, and maybe you can explain how it doesn't, but:
Price of X
=
The Money Supply times Money Velocity towards X
Divided By
The Supply of X
But it seems to me that, based on the premise that that is a correct understanding, that all real growth is deflationary: When you increase the supply of any good or service X, that is a deflationary pressure, so growth is always deflationary. You might have more inflation in prices, but the inflation in income will outstrip the inflation of prices: which is deflation in real terms. And that is what is happening: as the economy opens back up, and we continue to improve efficiency of production over the long term, prices will either go down, or, if they do go up, they will not go up faster than incomes, which is all that matters.
What caused me to stop being scared of inflation was the realization that you have to look at incomes in relation to prices, not just prices. Income means nothing without prices and prices mean nothing without income.
If, in 1,000 years of low inflation, a candy bar that costs $1 today, costs $1 billion dollars in 3021, is that candy bar expensive? That comes entirely down to what the average income is, what the GDP Per Capita is. If The GDP Per Capita in 3021 is $100 trillion, then it is actually less expensive, because today $1 is roughly 1/65,000 of the GDP per capita, but in that example the candy bar would be 1/100,000 of the GDP per capita, so in real terms, in terms of a ratio of prices to average incomes, it costs a lower proportion of the average income.
But this fact seems to infuriate libertarian loonies. The notion that our society could survive indefinite inflation for a literal millennium will not deter them from predicting doom around every corner.
She should have kept. her mouth shut
Easy to explain. Some of her friends were short for a flip.
Janet Yellen thinks she is a God Father/Mother of US Fiscal + Monetary System )))))))
That was just stupid on many levels. I was worried that she might be a problem.
Yeah, I agree. When she made comments about inflation I was taken back and thought 'You're stepping on the toes of the central bank here, you don't run that show any longer so what are you doing?'. To his credit, Tim G never did that as he knew where the demarcation line was. You'd never see that in the UK; the Chancellor questioning the policy of the BoE Governor? No way!
Can’t we agree that the economy running hot is a euphemism. The economy has no temperature
Just let it run it’s not a car , who cares if a banker thinks the economy is hot or cold . Just trade
not so bullish anymore are we MR MMT LMAO
you can call a pig in a dress babe doesn’t make it a lady! MMT is nonsense it can only go on for so long, without cashless and negative rates
she says this because insurance companies need higher returns because they buy US treasuries. She's not saying it out of policy, but is looking out for corporate interests.
Sorry, I keep forgetting to hit the thumbs up.