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which exists, this is an opportunity to topple putin

obviously that's not true, craner sees an opportunity to topple putin

no equation can tell you how high interest rates should be in order to make ppl unemployed and therefore lower inflation, it's just not a mathematical problem at base

personally I just cant get over what a massive disaster this is, and shipping arms to the Ukraine does nothing to lessen that

ultimately macro is a category error in the form of an academic field, where we treat moral problems as engineering problems

if macro becomes a "hard science", that implies that human freedom has disappeared

but is this actually going to help in the long run? help the ukraine, I mean

its going to get extremely grim and we are providing the means to make it even grimmer. to what end?

it's still a joke, but war time keynesianism, for eg, doesnt seem impossible

I think what the genuine policy types are coming out with is if anything more crazy at this point. full luxury communism has never been a more realistic option.

exactly

what's interesting about the great reset link that sufi posted is that it doesn't seem crazy at all. reality has merged with the conspiracy over the last few years and conspiracy theorists are now starting to sound like boring policy wonks.

in terms measuring a simple effect, but if you think that increased demand increases inflationary "pressure", then the general effect of deficit spending must be inflationary even if it doesnt lead to inflation (due to eg the effect of other vatiables)

the mmt take is that high deficit spending is actually good in general since this creates net savings for the private sector

my impression of mmt is that they have a good understanding of the operational side of banking and monetary policy, but that they confuse this with a theory of the macroeconomy. the most obvious take away from mmt is that govts who issue their own currency can spend as much as they like is true...

as to whether crypto in particular can sustain bubbles indefinitely, or whether they are more resilient to asset price deflation in general, that's somewhat unknown, but seems like wishful thinking to me. the existence of stablecoins like tether obviously provides some level of support for asset...

the net effect of the responses to the fin crises in 2008, 2019 and 2020 has been to inflate a massive bubble (really multiple bubbles), with the crypto bubble as an epiphenomenon of this wider trend. whether this is sustainable in the long term remains to be seen. however, growth in asset...

one thing you have to understand is the impact of 2008 on what central banks understand their role to be. the downturn following the collapse of Lehman was so severe that cbs have all become aligned on the idea that in a crisis following the collapse of a bubble, the impact should be absorbed by...

what's the conspiracy theory take on the ukraine and the energy crisis? great reset stage 2?

one thing we've not discussed here but which is relevant is the pro-cyclicality of leverage. this explains why the financial system (including crypto) has such a tendency towards the formation of bubbles. what happens is that when asset prices rise, net worth and collateral values rise...