I’m here to ruin some long running narratives. I apologize in advance. Money is not scarce. It never has been and it never will be. More importantly, scarcity of money [ … ]
Category: Myth Busting
(Popular Myths of the Economy and Markets….BUSTED!
Is Inflation Really 10%?
One of the long running themes on this website is low inflation and debunking narratives about how very high inflation might be around the corner. I like to work from [ … ]
Government Bond Markets Aren’t “Free” Markets
This is one of those posts that is operational in nature, but will sound political to some people. Before you send me a mean email please try not to politicize [ … ]
Sorry, but Your ESG Funds Probably Suck
I’ve previously discussed ESG investing and how investing in what you view as subjective morality is actually nothing more than old school stock picking. I get it – we want [ … ]
Stop Saying MMT Describes Reality – It Doesn’t
I had a good laugh at this Tweet from Jo Michell (who is a very good economist by the way). It seems to be from a UK blog advocating for [ … ]
Let’s Talk About Sectoral Balances
I am a big fan of looking at things through the lens of the sectoral balances. For instance, I sometimes post this chart on this website which depicts the government’s [ … ]
No One Knows What Individual Stocks are Actually Worth
This is probably the most important thing you can learn about allocating your savings: No one really knows what individual firms are worth at any given time. When you recognize [ … ]
EVERYONE Funds Their Spending
One of the most confused (and confusing) elements of endogenous money is the idea of “funding”. Endogenous money is not a new theory, but it is not well understood even [ … ]
Let’s Stop Talking About “Paying Off the National Debt”
When we talk about personal finance we often talk about paying off our debts to become financially free. But this is a fallacy of composition. While some households can pay [ … ]