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On March 18, Joe Wiesenthal of Bloomberg Markets had MMT economist Stephanie Kelton on the show. If you’re not familiar with modern monetary theory, they think governments should print more money because deficits aren’t a big deal.
Central Planning by Business Is Not the Same as Central Planning by Government | Antony SammeroffMar 26, 2021 - 11:58:36 PDT
Advocates of capitalism say: “CENTRAL PLANING DOESN’T WORK!” Also advocates of capitalism: “CORPORATIONS DO WORK!” Sensible socialist: “Uhhh … aren’t corporations all centrally planned?” This is a relatively new, and even imaginative critique of markets which has recently been circulating the meme-o...
Progressive Democrats in the House are privately discussing how they can push President Biden for a second spending package substantially bigger than the $3 trillion over a decade floated in various news outlets this week.
Ray Dalio Says There's a Bubble That's 'Halfway' to the Magnitude of 1929 or 2000Mar 26, 2021 - 10:45:29 PDT
Billionaire investor Ray Dalio — who founded the world's largest hedge fund, Bridgewater Associates — in a new interview warned that the stock market is a bubble "halfway" to the magnitude of those which triggered historic market crashes like the dot-com bust and the Great Depression.
Estate Tax Proposal from Bernie Sanders Would Mean Big Bills for America's WealthiestMar 26, 2021 - 10:35:42 PDT
Senate Budget Committee Chairman Bernie Sanders (I-VT) recently introduced an estate tax plan that specifically lists the wealthiest Americans.
Investors have been wary of the inflation risk that comes with holding government bonds, as President Joe Biden’s vast stimulus plan raises expectations that the US economy will run hot.
Making predictions in emerging markets has always been a tough job. For Turkey, it’s become near impossible. Bank strategists tore up their bullish lira forecasts this week after President Recep Tayyip Erdogan fired the head of the central bank, and now are largely in the dark on where the currency goes next.
Personal income declined in February but only because more free money checks were sent out in January.
Why the U.S. Dollar Continues to Rise, Defying a 2021 Consensus Trade: MWMar 26, 2021 - 09:14:36 PDT
The U.S. dollar didn't get the memo, extending a rise versus major rivals as the first quarter comes to a close and defying widely held expectations for...
'There has never, ever been any asset that has staged a series of bubbles, crashed after each of them, and after a while regrouped to stage another bubble, the way bitcoin has.'
President Joe Biden’s administration appears relaxed about running large budget deficits, but for one government agency that’s usually been a cue to start sounding alarms. The nonpartisan Congressional Budget Office –- whose job is to evaluate how new legislation will affect the public finances -- finds itself in a tough spot as Biden prepares to announce...
Growing worries about the return of a long-forgotten bugbear highlight increasing risks for savers.
"In the 1990s New Zealand pioneered inflation targeting, an approach that every major country followed for the next three decades. In a few years we might look back at this fleeting Kiwi attempt at incorporating asset markets into monetary policy with the same admiring eyes that we now see their...
I have to admit, I have some level of respect for gold smugglers. They are some creative people. And gutsy. And willing to endure a little pain. Not to mention the fact that a lot of them are just trying to avoid taxes. I can understand this desire.
Fed's Daly Says U.S. Job Market Is 'in a Ditch' with Still Nearly 10 Million Jobs ShortMar 26, 2021 - 07:49:22 PDT
San Francisco Federal Reserve President Mary Daly on Thursday said the U.S job market was "definitely still in a ditch," with the economy still nearly 10 million jobs short of where it was before the COVID-19 crisis.
A first-quarter survey by the China Beige Book found that borrowing by state-owned enterprises dropped to the lowest in the study's roughly 10-year history.
Pete Buttigieg, the transportation secretary, said that the White House is weighing a mileage tax and special bonds to fund infrastructure.
It's Going to Become Harder to Avoid Telling the IRS about Income from Selling OnlineMar 26, 2021 - 07:33:48 PDT
The recently enacted American Rescue Plan Act significantly lowers the threshold for when online sellers will receive a tax form.
UMich Sentiment Surges To Highest Since March 2020, Inflation Outlook At 6-Year HighMar 26, 2021 - 07:28:47 PDT
The reestablishment of an inflationary psychology will not occur immediately. Buy-in-advance psychology preceded actual inflation by about two years prior to 1980, with the lead time more variable and with no resurgence in the low inflation era.
$6 Trillion Is What the Country’s Overall Infrastructure Needs for the Next 10 YearsMar 26, 2021 - 07:13:33 PDT
Build America Bonds first entered markets more than a decade ago as the Obama administration sought ways to spur the U.S. economy.