I am a Financial Advisor. We provide mortgages as part of our business. Central Banks printing trillions is s fact and I understand what Tonia is saying below. But in my limited experience operating in the Irish market a very large proportion of the CB “interest free” cash never reached consumers. It was hoarded and guarded by commercial and retail banks seeking to rebuild their crushed capital bases from the 2008 financial crash. From my experience there was never an ordinary consumer credit bubble this time around. I believe that the energy crisis exacerbated the pandemic supply line crisis and the relatively modest amount of ordinary consumer savings all went chasing limited goods and services as soon as the pandemic restrictions were removed. I believe consumers will be a lot more prudent of their remaining modest cash savings in the short / medium term and IF the authorities can resolve the energy crisis in the short term then inflation is not truly imbedded in the world economy and will drop back quickly in the short term.
Hey lads. Love the show. GRMA. I read Stephanie Kelton’s book THE DEFICIT MYTH on recommendation from another podcast. I have a basic understanding of finance and money, but couldn’t in my mind square the circle of how could money being continually added to the money supply not cause inflation. I thought I just didn’t get it, but the MMT people have seemingly disappeared from view in the last couple of years. Would it be fair to say that perhaps I wasn’t the person who didn’t get it?🤷♂️😀
MMT was another myth. They taught they were getting away with it as Official inflation figures were low in the 2000s but there was inflation in stocks and property . Now it has extended to food , goods and services so it’s everywhere now. All caused by central banks printing too much money.
The mistake was printing trillions and keeping rates at zero for too long. Now central banks are trying to fix the mess they created. It’s not just oil /gas that went up. All goods and services have increased in prices.Even the most committed Keynesian accepts cut spending and increase taxes has to be done sometimes.please don’t say now is not the time to do it as that’s the reason prices out of control in The first place.
I think one answer will be to post just Apple and Spotify links. Maybe Google podcast link as well. Once those three are up, I think most people will have access. Thanks again for alerting me to the bug.
I am a Financial Advisor. We provide mortgages as part of our business. Central Banks printing trillions is s fact and I understand what Tonia is saying below. But in my limited experience operating in the Irish market a very large proportion of the CB “interest free” cash never reached consumers. It was hoarded and guarded by commercial and retail banks seeking to rebuild their crushed capital bases from the 2008 financial crash. From my experience there was never an ordinary consumer credit bubble this time around. I believe that the energy crisis exacerbated the pandemic supply line crisis and the relatively modest amount of ordinary consumer savings all went chasing limited goods and services as soon as the pandemic restrictions were removed. I believe consumers will be a lot more prudent of their remaining modest cash savings in the short / medium term and IF the authorities can resolve the energy crisis in the short term then inflation is not truly imbedded in the world economy and will drop back quickly in the short term.
Hey lads. Love the show. GRMA. I read Stephanie Kelton’s book THE DEFICIT MYTH on recommendation from another podcast. I have a basic understanding of finance and money, but couldn’t in my mind square the circle of how could money being continually added to the money supply not cause inflation. I thought I just didn’t get it, but the MMT people have seemingly disappeared from view in the last couple of years. Would it be fair to say that perhaps I wasn’t the person who didn’t get it?🤷♂️😀
And thanks for the kind words!
Lots of MMT RIP articles being written. It was always garbage.
MMT was another myth. They taught they were getting away with it as Official inflation figures were low in the 2000s but there was inflation in stocks and property . Now it has extended to food , goods and services so it’s everywhere now. All caused by central banks printing too much money.
The mistake was printing trillions and keeping rates at zero for too long. Now central banks are trying to fix the mess they created. It’s not just oil /gas that went up. All goods and services have increased in prices.Even the most committed Keynesian accepts cut spending and increase taxes has to be done sometimes.please don’t say now is not the time to do it as that’s the reason prices out of control in The first place.
So this did not bring me to a podcast or an article!!
Instead it played the one where you both had dinner in a Japanese “Zakura” !!!
Perhaps a chat with Acast would be worthwhile??
Oh dear. Thanks for the heads-up. I will check it out.
Works on Apple!!
I think one answer will be to post just Apple and Spotify links. Maybe Google podcast link as well. Once those three are up, I think most people will have access. Thanks again for alerting me to the bug.
Fair enough!
It was well worth persevering. Very enjoyable especially the descriptions of the Central Banks’ behaviour !!
Your collective language is getting more cynical & colourful by the day!!
You must let me know if I ever go too far!
Nah!! You’ll never do that🤣