@HayekAndKeynes X has become intellectually vacuous. I rarely check this shitshow anymore.
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YOLOQuant
2.6K posts
YOLOQuant
@yoloquant
You only live once, don't fuck it up. I know enough math to be a danger to myself and others.
Beigetreten Şubat 2021
148 Folgt306 Follower
Engagement is so low on here... Some crazy numbers:
I have >25x the following on here but get more activity from my posts on... wait for it.... LinkedIn... Things I share on here are usually only seen by ~1/10 of my followers on average vs LinkedIn where they are regularly seen by 4x my follower count. Makes no sense. I could post engagement bait and I think it would probably work for the new algorithm which is more like TikTok but can't stand the idea of doing that.
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@a60483647 @omabium @Noahpinion @shi_hongyi MMT doesn’t say yes at all: their argument is that if the governments demand hits a resource constraint, you get inflation: ergo you can’t overspend either
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@yoloquant @omabium @Noahpinion @shi_hongyi The disagreement is over whether inflation can be limited while maintaining the overspending (MMT says yes, fiscal theorists say no)
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For anyone who's interested, the macroeconomic theory Elon is espousing here is called the Fiscal Theory of the Price Level, or FTPL. It has been promoted by top economists Chris Sims, John Cochrane, and Michael Woodford, but remains a minority view.
en.wikipedia.org/wiki/Fiscal_th…
Elon Musk@elonmusk
Inflation is caused by the Federal government spending more than it earns, because they just print more money to make up the difference. To solve inflation, reduce wasteful government spending. Your tax dollars should be spent well, not poorly.
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@omabium @Noahpinion @shi_hongyi Don’t they reach the same conclusion? Overspending -> inflation? There’s just a disagreement about how much is overspending
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@Noahpinion @shi_hongyi It's funny because they end up reaching completely opposite conclusions
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@MikeNellis @KamalaHarris You do realize that house prices will increase by handing people free cash?
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Just read @KamalaHarris' housing plan. It's excellent & really simple, too.
Democrats usually hurt themselves with complicated plans that are hard to explain.
This is easy to sell:
↳I'm going to build millions of new housing units
↳I'm going to take on corporate landlords
↳I'm going to give you $25K to buy your first house
That'll work.
#HarrisWalz2025
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@Noahpinion If you dump a ton of money into the economy and then stop, inflation ends on its own.
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Biden beat inflation after all
Jason Furman@jasonfurman
The CPI-based Ecumenical Underlying Inflation measure was 2.4% in July, down from a (revised) 2.6% in June. This is the median of 7 different measures over 3, 6 and 12 months--so a total of 21 numbers--all re-meaned to match the PCE. Lowest since I started compiling.
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If you put price controls on biz w already small margins, they will not be able to make those margins bc inflation will still be happening w all their supplies. People lose jobs, businesses shut down, fewer places to buy food, less food available at higher prices. It hurts people
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@spotgamma They’re not monopolies and consolidation machines like most of the S&P?
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So instead of dealing with the actual sources of inflation, the Harris plan is going to be to continue to pretend price increases are a result of price gouging in an industry with razor thin margins.
Philip Melanchthon Wegmann@PhilipWegmann
News: Harris to propose “federal ban on corporate price-gouging” on groceries and “impose stiff penalties in the food industry,” campaign announces.
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@jaltucher This is far more complicated. See Japan who ran even bigger deficits than the US for years along with 0% interest but also had no inflation
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F) Inflation is the result of an increased money supply due to higher government (and inefficient govt spending). If money supply increases faster than our goods and services than inflation results.
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I'm hesitant to post this because I don't really like any aspect of the political system. But here is what I heard last night at the Must/Trump conversation and I'm curious what part of this people disagree with:
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@Mobley13Tony I wasted my time watching the full clip. They’re waiting for a doctor. About the 15 minute mark: youtube.com/watch?v=D4IdhX…
YouTube
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@qxvnxb @BenjaminDEKR This is stupid. When someone spends money, it becomes someone else’s money.
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Can someone explain why UBI wouldn't just become the de facto inflation level?
Like, if you gave everyone $1,000 a month guaranteed, why **wouldn't** all prices just rise?
If you get a "free $1,000" but your rent also goes up $1,000 (or food, etc) what is accomplished?
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@BenjaminDEKR There was a study which kinda proved your point. Free money leads to less work, which is stagflationary.
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@josephwang You should look into Cochrane’s fiscal theory. The issue is not that Treasuries are issued. He argues inflation appears at whatever rate it’s debt it not repaid to soak up the printed cash.
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This is true because government securities are money like in the modern financial system. Deficit spending is functionally similar to money printing. Government buys stuff and pays by printing Treasuries.
A 6% fiscal deficit forever is obviously structurally inflationary.
Elon Musk@elonmusk
The rise in prices (inflation) is caused by government overspending, which increases the amount of money faster than the increase in goods & services output. That is the vast majority of the problem. Inflation was particularly bad during the Covid years, as there was massive government spending, despite productivity plunging, as people were forced to stay home. This is further exacerbated by excess regulation, which prevents the market from solving an unmet need (eg housing in high-demand areas). Occasionally, there is monopolistic behavior by companies, but this is relatively rare and usually only possible if those companies have gained control of their industry regulator. Again, a government, not private sector, problem.
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🚨GROK KNOWS WHEN TRUMP WAS SHOT
CHATGPT DENIES TRUMP WAS SHOT
Score one for @xai and @elonmusk for getting history right…
Mario Nawfal@MarioNawfal
🚨🇺🇸 CHAT GPT: TRUMP WAS NEVER SHOT | BUT KNOWS THE WINNER OF THE WESTMINSTER DOG SHOW ChatGPT Prompt: When was Trump shot? "Donald Trump has never been shot. There might be some misinformation or confusion surrounding this topic. He has faced various controversies and legal challenges, but there has been no incident of him being shot." ChatGPT Prompt: Who won the Westminster dog show? "The winner of the 2024 Westminster Dog Show was Sage, a Miniature Poodle from Houston, Texas. Sage took home the prestigious Best in Show title, marking the fourth time a Miniature Poodle has won this honor in the history of the event. Sage triumphed over more than 2,500 competitors, showcasing her exceptional qualities that impressed the judges." Source: Chat GPT 4o
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Kamala must have picked Walz like three weeks ago for them to already have this merch rolling out
It's the same as when Biden dropped out. He clearly made the choice a long time before he made the announcement. The Dems' have been strategically on point lately
Tim Walz@Tim_Walz
Capping off the night. store.kamalaharris.com/harris-walz-ca…
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