Michael on Nostr: “ 'Great civilizations are not murdered. They commit suicide.' -Arnold Toynbee" ...
“ 'Great civilizations are not murdered. They commit suicide.' -Arnold Toynbee" -Jason Lowery's Soft War
I'm 100% with you in that we're trying to drain Lake Superior with a hand bilge pump. Is it doing something? Sure, but is it really doing something? No not really. What I was hoping to see from Musk was a more system correction approach. We can't cut what we need by going through the line items. We must address the incentives of the system: members of government are motivated by getting more for their organization, their district, and their lobbyists. If we don't change that, the bureaucracy will grow until it dies under it's own weight, or is consumed by a more agile outside entity.
I do expect that cuts will come with stimulus to counteract the reductions, the 8 month buy out to walk away from a GS position being the first example of many more to come.
I think yield curve control is inevitable just with many fancy justification and names around it.
Future Powell: "In order to provide stable prices without putting undue downward pressure on growth and the economy, we will be starting the treasury liquidity stabilization and stupendiocity program. It has extra stupendousness!!"
Like Luke has said, you get the order wrong and we get an asset correction first, but in the end nothing stops this train. (I disagree with Luke that Musk will cut too hard and cause the correction though.)
I'm 100% with you in that we're trying to drain Lake Superior with a hand bilge pump. Is it doing something? Sure, but is it really doing something? No not really. What I was hoping to see from Musk was a more system correction approach. We can't cut what we need by going through the line items. We must address the incentives of the system: members of government are motivated by getting more for their organization, their district, and their lobbyists. If we don't change that, the bureaucracy will grow until it dies under it's own weight, or is consumed by a more agile outside entity.
I do expect that cuts will come with stimulus to counteract the reductions, the 8 month buy out to walk away from a GS position being the first example of many more to come.
I think yield curve control is inevitable just with many fancy justification and names around it.
Future Powell: "In order to provide stable prices without putting undue downward pressure on growth and the economy, we will be starting the treasury liquidity stabilization and stupendiocity program. It has extra stupendousness!!"
Like Luke has said, you get the order wrong and we get an asset correction first, but in the end nothing stops this train. (I disagree with Luke that Musk will cut too hard and cause the correction though.)