Pricing will be a mess for a few years, but the central banking can recover in about a week.
If we foul up the MMT then we suffer a whole new generation of 'This time is different' nutcases. Hence my job. To provide pre-trauma training to the snowflakes so they do not suffer a life time of post traumatic money fears. I have to keep saying to them: "We did after all survive the Nixon shock, and with a little preparation we should do no worse than that and likely twice as good."
But I am facing the snowflake dream weavers, the pundits organizing tribes around priors and their tribes thus not adapted to learning. It is like running a company and being stuck with a bunch of politically correct Berkeley grads, hard to get any innovation.
No comments:
Post a Comment