If Japan wants to slow its FX devaluation, they could raise rates. However, that would greatly increase their deficit, which the BOJ would have to monetize, and thus accelerate money supply growth.
Or they could sell U.S. Treasuries, of which they are the largest foreign holder.
Ye gods, please someone tell Biden you can’t tax yourself out of national debt while killing the GDP with war spending and bank bailouts — not to mention stifled innovation.
We can only dig ourselves out of our catastrophic debt by investing our public spending only in areas…
Ye gods, please someone tell Biden you can’t tax yourself out of national debt while killing the GDP with war spending and bank bailouts — not to mention stifled innovation.
We can only dig ourselves out of our catastrophic debt by investing our public spending only in areas…
@judyshel@greg_ip This cht shows that the strong USD @greg_ip describes in the article is mathematically certain to crash the UST market as began in 3q23 (TLT was down 19%) & the global financial system as foreigners sell $52T (gross) & $18T (net) in USD assets, incl $7.5T in USTs, to raise USDs.
dems: “there’s just no way to plan our multi-trillion dollar budgets without raising taxes”
citizens: “spend less money”
dems: “it’s just an impossible problem”
citizens: “don’t spend as much”
dems: “more taxes, more debt, the only possible solution”
citizens: “spend less”
Musk spitting facts on the earnings call:
"If someone does NOT believe Tesla will solve autonomy, they should not be an investor in the company. But we will, and we are."
$TSLA
New Tesla Model 3 Performance vs BMW M3 Competition xDrive comparison:
Starting price:
• BMW M3: $84,300 ($76k for base RWD M3)
• Model 3 Performance: $52,990 ($45,490 including Federal EV credit)
0-60mph time:
• BMW M3: 3.4s
• Model 3 Performance: 2.9s
Weight:
• BMW M3:…
@TXMCtrades@ces921@SteveMiran Druckenmiller highlighted something similar last yr to Kiril Sokoloff at Sohn Conference, noting US is in way worse position than France:
27 years ago, Zbig Brzezinski warned "the most dangerous scenario would be a grand coalition of China, Russia, & perhaps Iran."
Out of hubris, US policymakers spent the last 20-25 years pursuing policies that [wait for it]... pushed China, Russia, & Iran closer together.
1/
I just read the 43-page International Monetary Fund paper on cross border flows in bitcoin.
Thought I'd share three interesting takeaways to crystallize my thoughts.
A quick thread.
imf.org/en/Publication…
🚨🇺🇸BREAKING: SEC LAWYERS FORCED TO RESIGN FOR "GROSS ABUSE OF POWER" IN CRYPTO CASE
Federal Judge Robert Shelby has sanctioned the SEC for "gross abuse of power" in handling the DEBT Box crypto case, criticizing the agency's actions for undermining judicial integrity with…
🇺🇸 RFK JR. WANTS TO PUT THE ENTIRE U.S. BUDGET ON THE BLOCKCHAIN
"Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day."
He said he envisions 300M "eyeballs" scrutinizing the budget, which would allow for better transparency on…
@LukeGromen It’s basically just an observation of the exploitation of the reserve currency system and doesn’t apply at all to 99% of countries whose currency cannot buy critical goods or pay back imf debt etc. MMT folks do acknowledge this to some extent. MMT = imperial hubris
A picture worth 1,000 words.
Think about the economic, political, and social implications.
States that are losing population vs states that are gaining population...
The Congressional Budget Office expects that about $20 trillion in net new federal debt will be issued over the next decade.
As part of this, they assume 1) no recessions but also that 2) that interest rates will go down starting here in 2024.
Otherwise, probably >$20 trillion.
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