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Old 03-16-2019, 04:53 AM
Danny B Danny B is online now
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,391
MMT to euthanasia

wayne ct. Yes, it's a sad situation. I just try to bring a little clarity out of the confusion. I also try to discard the B.S.

This is the short version tonight.
3/15 BoJ’s never-ending crisis is a lesson to the world’s central banks – Bloomberg
China's Looming Liquidity Shortage (Or Why Endless Stimulus Isn't Working)

"But, after over 60 different 'stimulus' measures in the last few months and last night's promises, nothing seems to be working as China's economic data continues to tumble."
The Fed’s failures are mounting – Danielle DiMartino Booth
3/15 China premier vows no massive stimulus as Beijing launches massive stimulus – ZH
3/15 Central banks stuck in holding pattern – Reuters

The whole Central Bank model is going down the drain.
Armstrong, "The Fed was created to be funded by the banks themselves to effectively be their bailout institution. As I have written before, the Fed “stimulated” for it was authorized to buy ONLY corporate paper when banks could not lend. Because of WWI, the politicians directed the Fed to only buy government debt"
The FED was hitched up to birth the warfare state. After Bretton Woods, the FED was hitched up to birth the welfare State. Warfare being the most important of the 2. After all, social security was raided to fund wars.
" The ECB and the Bank of Japan fund their government debts without end, and they have both destroyed their bonds markets"
It is only a lack of transparency that allows the FED to appear to have stopped QE.
"The ECB cannot sell the bonds it has already bought. They have already stated that as bonds mature, they will reinvest that money aside from any new purchases because there is no market. Since they have destroyed their own bond markets, we are UNLIKELY to see a crash if there are no bids and offers. They will simply pretend that sovereign debt is perfectly fine."
The BOJ prints trillions to uphold their markets. Is that any different from MMT?
The ECB prints trillions to uphold State debt. Is that any different from MMT?
The FED is doing the same thing,,, only, on the sly.
Where does this all lead. If the CB prints whatever money is needed in the economy, what happens to the money renter?
Keynes had it all figured out.
Remember that the anti-MMT people claim that we would get high inflation. Didn't happen in Japan. Even China has low inflation in most sectors.
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