Over-indebtedness will produce “very weak” economic growth moving forward, leading to mild deflation, and pinning the entire treasury yield curve to near-zero for a long period of time
Surprisingly, the Fed shed $17.7 billion in mortgage backed securities
“These are very dangerous things in my opinion and they aught to give people pause about the nature of the currency that they deal with”
“They’re a bit of a Potemkin Village”
“l really worry about commercial (and) multi-family (mortgages) because this time around there was even more speculative juice in those sectors than there was in residential”
“90% of the economic growth in 2019 was consumption… What happens now if… consumption drops?”
For the first four years of the Great Depression, there was no monetary response at all
The circuitous spread of Buddhism in Southern and Eastern Asia
“The world is going to be shrinking”
Sometime between 1902 and 1920
