Macro Tourist Markets MMT

Part 2 Of The Macro Tourist’s Practitioner’s Guide To MMT

"If in the coming years politicians adopt MMT policies, your outrage will do your portfolio little good."

"If in the coming years politicians adopt MMT policies, your outrage will do your portfolio little good."
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8 comments on “Part 2 Of The Macro Tourist’s Practitioner’s Guide To MMT

  1. Thank you! Finally MMT presented in a digestible manner for those of us who are interested in economic policy but have trouble connecting the dots from time to time.

  2. monkfelonious

    I must give Herr H. a hat tip. Not only for his engaging way of writing, but introducing me to Muir and Hunt. For the life of me I just wish I could better understand what is written about. The three of you should get together and have a call-in for dummies. Nonetheless, purely by osmosis, I do get the flavor if not the meat.

  3. Anonymous

    Is MMT akin to financial fracking where liquidity is abused so we find a gimmick to go a drying up well a few more times? The thing that actually dries up progressively with each massive stimulus abuse is confidence in the global economic system.

  4. Ideas this sort of goop is non-inflationary are retarded. In the US, the inflation went into the stock market. IN th eUK, into housing. In France, into buckets of snails. You go printy printy, your currency go bye bye somehow or other.

    • Ok but what is an inflated stock market exactly? What are the consequences? If we printed so much money that the stock market grew 100x what precisely is the change in consumption of resources do you think? Now to the UK and housing… the consequences of this are actually not problematic for the government. Housing being expensive reduces consumption rates of resources as the house doesn’t cost more resources to maintain just because it is expensive. You do not need to drill more oil wells because housing prices are up. You do not need to grow more corn. You can ultimately if it is politically expedient create more housing if there are sufficient resources to do so.

  5. echoing monkfelonious: H, would you consider explaining how to trade the steepener for us retail followers?

  6. This is a pretty good description of how I have been positioning though I had no way to articulate why other than I could not come up with any explanation as to why I shouldn’t. I just started crossing off investments that were illogical in principal based on current conditions and trends and all I had left was real assets over financial instruments and value stocks. This is an excellent explanation of where this is coming from.

  7. Was also interested in understanding mechanics of yield steepening trade. It is derivatives trade, long ST treasuries and short LT treasuries with calculations of expected spreads. Good pdf explanation is https://www.cmegroup.com/trading/interest-rates/files/Yield_Curve_Strategy_Paper.pdf

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