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stock market post

You wrote about the stock market and how it seems disconnected from the actual economy. And you said this is not a Fed conspiracy. You seem to think it's just fine and shows investors are looking ahead.

One thing you did not mention was the "plunge protection team." You also didn't mention that the Fed invests in the stock market indirectly -- by shooting massive "loans" off to foreign central banks, who then invest in US stocks.

You also didn't mention the outrageous corruption the Fed and its Wall Street friends are getting away with.

I realize MMT says creating trillions of dollars for whatever the country happens to need is just fine. I don't agree, but aside from that -- when trillions of dollars can be created by a secretive unaccountable agency like the Fed, you can be sure its friends will be lavishly rewarded.

MMT has a lot of problems -- and most economists agree that it does. When you rely increasingly on central planning and less on private competition, corruption is sure to take off. No, I am NOT saying private enterprise is free from corruption. Just that centralized power and planning won't help, and will hurt.

 

 

 

 

 

 

Hi @POLLYCHASE,

I've written many critiques of MMT so I am not sure why you're explaining its flaws to me?

https://www.pragcap.com/modern-monetary-theory-mmt-critique/

Further, what is this evidence that the Fed is "corrupt"? I'm not sure what that means.

"Pragmatic Capitalism is the best website on the Internet. Just trust me. Please?" - Cullen Roche

Oh sorry I misunderstood, thought you were an MM theorist. So glad you aren't!

There is abundant evidence of Fed corruption. Take a look at what the Martens dig up, for example: https://wallstreetonparade.com/

And Matt Taibbi. And lots more! It is appalling.