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The Recession Paradox | Alfonso Peccatiello
Forward Guidance
The T Account and the Government Debt
If you're doing fiscal deficits or borrowing a lot through the bond market, but just to refill their coffers at the Fed rather than spending the money in the real economy, then it doesn't matter. The offsetting amount in the private sector is that Jack Farley gets on the asset side more bank deposits. That's the check that the government has sent to Jack. Follow me now. It's not easy, but we'll make it. We will.
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