We consider two generations, AOC and Feinstein, looking at recent history and repricing the past. They are sampling the past with better technology than Diane and her dad sampled the future in 1970.
No one's fault, natural, and the only fair expensing of observed errors is via the MMT moment, that is why we have it. The expensing is the actionable result of being observed by Diane and AOC. Just like quantum mechanics, it is, in fact.
But the batter technology is now known, we get some of that expense back with endogenous gains, and that is why we want a non-profit New Fed, we know the arbitrage is coming.
Sandbox, is thing thing with the better backwards view, every observeable from that period is linked to the web, we have a great trade book for pricing recent history, back to 1972, or a coefficient back to 1932, if you dare. This is the thing, two complete cycle in memory, three generations of Moore's law. The opportunities to 'reorder', get all the shit done a bit more efficiently, almost a calcuable productivity gain. Then putting sandbox tools into the hands of AOC and her gang? I say MMT is fun and dandy, make it short and sweet.
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