Tapering IS Quantitative Tightening
Say you are a pension fund that needs an 8% return to meet its liabilities without difficulty. And say that stocks have been inflated to the point that you can in all honesty expect only a 2% return over the long run from here given reasonable assumptions about valuation metrics returning to something sensible at some point. You might be tempted to
... See moreSacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
看过某相关政策解析，整体感觉是：央行和证监会搞了这么复杂的操作，主要目的还是为了中国版的“利率曲线管控”——压低长债利率，降低经济衰退预期
其实这些举措并没触及根本（通缩的另一面是流动性危机），这些眼花缭乱的举措（降准、存量贷降息、债股互换），对于社会总需求扩张，基本上屁用不顶 https://t.co/inv6nSibrY
Work in ProgressAmerica’s Most Important Economic Storyteller Is ConfusedAn old economy is dying, and a new economy is struggling to be born. Now is the time of monstrously confusing data.By Derek ThompsonAn illustration of the dollar-bill portrait of George Washington shrugging in confusionThe Atlantic; GettyJune 17, 2022About the author: Derek Th... See more
The Atlantic • America’s Most Important Economic Storyteller Is Confused
Big Idea Ten: Central Banking Is a Hard Job
Alex Taborrok • Modern Principles of Economics
