Paul CantrellMar 14

RE: https://sfba.social/@drahardja/116225009200255920

My unscientific, inexpert, underinformed gut analysis here is that the US has been in recession in any meaningful sense for about a year now, but there’s a few dozen billionaires playing ping-pong with each other’s money and the way we measure growth mistakes that for value creation.

Show threadDonald BallMar 14
@inthehands This has basically been the story of the US economy since the Great Recession, imho. Waves of loose capital sloshing around desperately seeking outsized returns while labor stays mostly afloat on credit. Mostly.
Show threadGhostOnTheHalfShell

@donaldball @inthehands

It represents the choice of where government money printing is directed to.

From MMT, the federal government prints money into existence and only afterwards can it be taxed or saved into treasuries or used to purchase stocks or other assets, all of which generally returns some sort of wealth transfer mechanism called interest.

Low interest rates were greedily taken advantage of by tech. They used it to build out all the cloud platforms.

Mar 14 at 10:59pmWeb