That didn't last long 🙄🙄🙄. #[0] some good source material for your next show.

Gotta love Lyn pointing out how ludicrous our banking system is:

The sharp decline in short term Treasury yields yesterday shows how broken our financial system is. No longer can investors take any type of long-term growth-oriented approach. Rather, we are forced to make economic calculations based off the words and actions of the Federal Reserve. In the case of yesterday's price action, the volatility came from expectations of what the fed "might" do, not from any official statement. The irony is that the volatility that springs from this system inherently makes the system more volatile, like a poorly constructed suspension bridge that is hitting its resonance frequency.

The most sinister lie that Keynesians/MMTers will propagate is the idea that savings do nothing for the economy, that only once those savings are spent does the economy benefit from this increase in consumption. Nothing could be further from the truth and this lie underpins our credit-based, inflationary monetary system. The truth is that ALL savings = investment. If I have $25k and decide to hold it in my savings account rather than purchasing a new vehicle, I am signaling to firms that what’s on the market is not worth my $25k. So if you want my hard-earned money, you better either 1. make the same car at a cheaper price (efficiency) or 2. Make a better car at the same price (innovation). I saved, firms invested. Keynesians/MMTers need to go back to first principles.

Running Nostr