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In trying to refute one of the points of MMT (that loans create deposits), Zerohedge completely ignores another major source of deposits...government spending. Dummies. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman
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In trying to refute one of the points of MMT (that loans create deposits), Zerohedge completely ignores another major source of deposits...government spending. Dummies. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman
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| In trying to refute one of the points of MMT (that loans create deposits), Zerohedge completely ignores another major source of deposits...government spending. Dummies. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman |
Mike, the best way to show zerohedge that he is wrong is to offer a battle. Let him and You trade on new tiny account and prove who is a boss. Offer it to zerohedge and let us see what will happen.
that isn't a way to prove anything about MMT.
@TheNull Hypothesis Why? Let Mike use understanding of MMT in trading and ZH use his own understanding + let them bet. What else can be a prove? Results and facts are stubborn things.
I think of it as loans make soft money deposits and government spending makes hard money deposits – but deposits are deposits.
Great work Mike!
I'm certainly with Mike on this. I'm also not worried about what so called debt but I'm certainly worried all that spending can lead to inflation.
simple proof by induction. if you lend out deposits and start from nothing you end up with nothing.
What do you expect from ZH? They're a cult.
MMT typically uses "endogenous" or "horizontal" to describe bank created money, and "exogenous" or "vertical" to describe government created money. Both are examples of "de novo" money creation, in which spending/lending itself expands the money supply. Zerohedge, and sadly many others, are still stuck in a gold-standard understanding of the monetary system. Maybe in another 50 years they'll figure it out.
Agreed! If anything the fact that deposits increased and loans remained flat supports MMT. With the massive stimulus deposits, for loans to remain flat means the deposits didn’t create loans…too much private sector debt and significant lack of aggregate demand…who wants to take out a loan? ZeroHedge is filled gold bug buffoons. They’ve been predicting a bubble in the treasury bond markets for a decade…still waiting. It’s like taking advice from Ron Paul. Lol a complete idiot!
They're Printing Money!
Where their's printing, their's juicing and pumping.
MMT is immoral….it’s A scam against the productive private sector. Yes, we have MMT but to defend it…only a bottom feeder would glorify it
Our fiscal and monetary policy can be used to help the majority or enrich the few. It’s not MMT, it’s the people who make policy.
Moralizing, blow harding, and virtue signaling is not a sound argument, one which you ideologues have lost.
Let me guess you're the monopoly guy?
@james catholic who is arguing for it or defending it? Like you, I recognize MMT describes the system we have. It may be immoral to you, but then it’s up to you to make your moral argument. I may agree or disagree, but you haven’t made your case.
ZeroHedge has articles by Schiff, Rickard, Paul, Dalio, etc. etc. all these "experts" who are actually dopes; spewing false information. Lots of gold bugs and "abolish The Fed" there too. Only plus point… they do have breaking news sometimes re politics and the nation. I scan ZH for that. But… Mike is correct about them: they should shut up about things that they don't understand, such as MMT.
Word is ZeroHedge is Russian media beware
I thought I was the only one to come to that conclusion. It definitely seems like the fear they sell on the collapse of America end times etc etc would benefit foreign actors more than investors.
ZeroBrains! They cry "They're printin money?" AND take the stance that loans don't… create money!? SMH…
Especially as they also probably cry that govt spending is from… loans! ?
Get it while you can. You can't print your way to prosperity forever. Gold is not an investment, it is an insurance policy. I say play both sides. Why not? Hope for the best but prepare for the worst. Take advantage of MMT, but have an insurance policy against the declining dollar, gold. You can have it both ways. No reason to be all in, one way or the other. Foolish to put all your eggs in one basket.
If you have gone Long when ever Zero Hedge recommends panic selling since 2010 you will be millioner by now. Go check charts and there post.
Zero hedge are conspiracy theorists