September 2024 Newsletter: Why Nothing Stops This Fiscal Train
While deficits of $1T+ per year, with debt repayments of nearly $1T themselves, people think this is unsustainable short term and will combust. I disagree, there is atleast a 5-10 year runway without the existential crisis, however as I said in TechDollar 1, it will get worse every year, the money printing will exacerbate all the issues internally ... See more
Dan • Tech Dollar 2: The War of the Worlds and Fate of the Dollar
Notably, Stephen Miran and Nouriel Roubini recently published a paper about “Activist Treasury Issuance” which is their term that refers to the Treasury Department taking unusual actions to offset the Fed’s tightness. Both Miran and Roubini are economics PhDs and worked in various capacities with the Treasury Department in the past.
In the paper, th
... See moreLyn Alden • Potential Asset Rotations: Deep Dive Analysis
The budget deficit stimulates the economy. Without it, the recovery could not have been as fast and vigorous as it turned out to be. The recovery, combined with high interest rates and the influx of foreign capital, tends to keep the dollar strong. The recovery, combined with a high exchange rate, tends to suck in imports and create a trade defici
... See moreSubstack • The ‘Imperial Dollar Milkshake Circle’
A combination of President George W. Bush's tax cuts and Obama's post-financial-crash stimulus had, in a decade, taken federal debt from 33% of US national income to 62% in 2010. Unreformed, it was projected to keep rising, to 90% in 2020
Michael Green • In Gold We Trust? The Future of Money in an Age of Uncertainty (Kindle Single)
