7% full employment deficit, we are in an era where fiscal deficits are structurally larger than the rate of bank lending and are set to grow in perpetuity, and so fiscal details tend to matter more than monetary ones.
Since the GFC, the US has substantially had Federal government-driven credit growth, yet many investors still operate from a first-principles basis of “the US is fundamentally capitalist.”
Wisdom is seeing things for what they are, not for what they are called.
bill /
npub1ae…zz0fu
2024-08-26 13:14:51
Author Public Key
npub1aef86m9dhfrmmaypgtznpnsz4vjjwhdjs45eaqzl9pjcs02hqhsq5zz0fuPublished at
2024-08-26 13:14:51Event JSON
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"content": "7% full employment deficit, we are in an era where fiscal deficits are structurally larger than the rate of bank lending and are set to grow in perpetuity, and so fiscal details tend to matter more than monetary ones.\n\nSince the GFC, the US has substantially had Federal government-driven credit growth, yet many investors still operate from a first-principles basis of “the US is fundamentally capitalist.”\n\nWisdom is seeing things for what they are, not for what they are called.",
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