Keeping it Simple | Ep. 25: Transitory or Purgatory?
Keeping it Simple with Simplify Asset Management
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The Importance of Taxes in the Credit Channel
The credit channel is impaired and the way that it appears to be impaired now both from a demand and a supply side yeah I also agree with Cullen though that like you know I would use the language differently. taxes are absolutely necessary but their role is actually to soak up liquidity effectively preventing too many dollars from being in distribution. The other way to do it is to offer a bond which ties the bill or a bond which tie the money up in unproductive activities for a period of time so that you can't respend it right now. It's not really the equivalent of universal basic income or welfare which actually most mmters should argue is anathema to the system because it's paying people for
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