jganetsk

15 ms·

61.
by jganetsk 8y ago
MMT is great. > government debt is consumer surplus You are referring to the Sectoral Balances Framework, which says that in aggregate, one sector's deficit is another sector's surplus. https://en.wikipedia.org/
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by jganetsk 8y ago
I'm not sure what we are really arguing about at this point. I'm claiming that the government would increase deficit spending to pay for Medicare For All. If you want to discuss the impact of having a larger government deficit, I
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by jganetsk 8y ago
Of course spending matters. MMT is in agreement. Here's the main public advocate of MMT tweeting that: https://twitter.com/stephaniekelton/status/10443137336008744... Before we continue this discussion, you n
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by jganetsk 8y ago
"MMT is largely nonsense, sorry." You have not rebutted any content in either of the articles I posted. "Inflation would be the immediate result" I said that inflation is a risk, as does every MMTer. The conversation we
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by jganetsk 8y ago
There is no problem paying for Medicare for All. The US federal government does not face an affordability constraint in dollars. It can pay for anything it wants, the only real constraint is inflation. https://www.forbes.com&#x2F
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by jganetsk 8y ago
https://www.mdedge.com/fedprac/article/81232/mental-health/n...
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by jganetsk 8y ago
I think the post was referring to states, not counties, when referring to "countries".
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by jganetsk 8y ago
This article has an incoherent approach to monetary and fiscal policy: "Yet, even after recent U.S. interest rate hikes, the Fed has nowhere near enough room to cut rates that much without going negative." "Fiscal policy does
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by jganetsk 8y ago
> In a country with a balanced trade deficit (exports are the same that imports), in order to keep the economy working at the same pace, if the public debt is reduced, the private debt have to grow. As you said, it's an accounting t
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by jganetsk 8y ago
Correct. The sum of all assets and liabilities in the world in some unit of account (like the USD) is 0. So if we say that the average liabilities per person in the world is X, it turns out that the average assets per person in the world is
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by jganetsk 8y ago
"I could go to a store and buy a bottle of expensive wine for that bill. But I wouldn't say the store owes me." That's a misunderstanding. A $20 bill is the government's liability, not the store's liability.
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by jganetsk 8y ago
This is a common misconception: that treasuries somehow don't lead to inflation but reserves (aka electronic cash) somehow do. Why? Both are extremely liquid, but treasuries pay more interest than reserves (yes, reserves do pay interes
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by jganetsk 8y ago
The Germain "ein Ferhseher" is likely just a literal translation of the English "television", being a 20th century technological invention.
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by jganetsk 8y ago
Mexico City density: 6,000/km2 New York City density: 11,000/km2 Wikipedia
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by jganetsk 8y ago
"handshakes and rate control start" This is a common way to describe congestion control which is a bit simple and reductive. Given 2 endpoints on the network, you want to compute a congestion window for the entire flow rather than
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by jganetsk 8y ago
Rust doesn't have GC.
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by jganetsk 8y ago
I find London to have the same problems in terms of being full of chain stores and losing the kinds of character that the author describes.
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Why Mabl Chose Google Cloud Platform (GCP) Over AWS(mabl.com)
3 points by jganetsk 8y ago|0 comments
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by jganetsk 8y ago
Great question. The answer is Modern Money Theory. "Monetary policy doesn’t work. What does work are fiscal adjustments" http://antonisoycasals.blogspot.com/2015/10/monetary-policy-... The truth is that
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Introducing BigQuery ML: Bringing machine learning closer to your data(cloud.google.com)
2 points by jganetsk 8y ago|0 comments
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Exactis data leak contained detailed information on 230M consumers(marketwatch.com)
2 points by jganetsk 8y ago|0 comments
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by jganetsk 8y ago
Asset price inflation, yes. Not consumer price inflation, which has been low to nonexistent for a very long time. So when the bubble bursts, their wealth will come surging right back down.
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by jganetsk 8y ago
"but I'm wondering if it's possible to put a soft lock (like a semi-fixed-deposit) on portion of a customers deposits and use that to finance lending" Fractional reserve banking? https://en.wikipedia.org/
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by jganetsk 9y ago
Because private sector deficits lead to recessions: https://en.wikipedia.org/wiki/Sectoral_balances
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by jganetsk 9y ago
Intuition: if you were my friend, and I gave you a loan for 5 minutes (maybe because your wallet is in your car and we are paying a restaurant bill), how much interest would I expect you pay it back with? Zero (think about Venmo payments).
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by jganetsk 9y ago
This paper is talking about intraday or overnight lending between banks... cases where loans have a term of less than 1 day. Yes, "to get people to forgo the use of their own money, you have to pay them something". The length of t
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by jganetsk 9y ago
The paper still holds. It is saying that the natural rate of interest, i.e. the "base case", is zero. It mentions interest on reserves and bond issuance to drain reserves both as ways to "move away from the base case". I
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by jganetsk 9y ago
Warren Mosler was a bond trader, for a while, so yes. And he lent at market rates, not at the natural rate, as one would expect.
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by jganetsk 9y ago
The paper is talking about the overnight, risk-free interest rate, not a long-term mortgage, which is just one point on the yield curve. If we think of the yield curve as a 3D graph, where one axis is interest rate, another axis is term, an
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by jganetsk 9y ago
The paper mentions that: "While government security sales may be used to drain the excess reserves to maintain some positive overnight rate, or the central bank may pay interest on reserve balances, absent such government intervention

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