by Summary:
Look in the mirror if you want to see primitive.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Look in the mirror if you want to see primitive.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Michael Hudson writes Beyond Surface Economics: The Case for Structural Reform
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Mike Norman writes Wishful Thinking
| Look in the mirror if you want to see primitive. |
Thanks Mike
Short and sweet public education announcement.
I think it's strange the FED (a privately owned bank) sets treasury rates.
Since when is US Government involved in creating a privately owned business, 'cus I'm not aware of any such buisness – Federal Reserve Act of 1913
@taddytass4318 Member banks own shares in the Federal Reserve banks. Fannie Mae and Freddie Mac are shareholder-owned companies.
Thanks for the updates, Mike.
Most people will never understand others will refuse to.
description is gold lol
Indeed it is basically simple, it's not a hard concept to follow – double entry accounting wrapped in law
Mike – I'm trying to be the devil's advocate here, but if there were no need to issue bonds, or if the interest on these treasury securities were to be zero, then how would the retirees who are not employed anymore supposed to retire and spend their remaining life in peace without working. Most people nowadays do not have pensions in place and they depend on interest income from bonds to sustain their daily expenses. In a scenario where the interest on securities were to drop to zero, they would have to use a systematic withdrawal plan (assuming that the face value of these securities increase due to zero interest rates), but in case of no issue of securities, they have no financial instrument to sell and pay their bills. I might be completely wrong here but I would love to know why. Would love to hear back from you. Thanks!
The government could, if it chose, pay decent pensions to all retirees. Nothing in the monetary system is natural or inevitable. Every aspect is a policy choice.
Remember that the Fed now pays interest on reserves and lends at a slightly higher rate than that, to keep the Fed overnight cash rate in the corridor between those two rates. So the bond sales don't even come into setting the overnight rate anymore – it just sets the price of a very short term risk free financial asset, from which all other financial assets benchmark their prices
YET AGAIN…Mike responds to the haters writing nonsense, even creating a special, bespoke video for this individual (!). Giving more reasons for the trolls to post their comments. He's repeating what he's said countless times before, instead of responding to the many genuine and interesting questions from real followers. THIS is why this channel doesn't grow!!
😹😹😹Learning is fun
❤👁
You say that this is so simple yet people don't understand. Maybe it's not that simple? To be a good teacher you need to see why people don't get it and help them understand. A teacher berating those who don't think the same way is not a teacher, it's just someone seeking validation. I'm very interested in what you have to say, but I still don't get it. If you went through all your basic concepts first then it might start to make sense to people like myself.