That is because I do not accept the premises of rational expectations theory,
Hmm.
So why are some one third of gilts index linked then?
That is because I do not accept the premises of rational expectations theory,
Hmm.
So why are some one third of gilts index linked then?
Is there any theory that the Lofty Spud does not instinctively reject? I am sure that even his attachment to MMT is to a heretical sideline that no one else follows
That’s good – but his idea on how to cut the cost of paying interest on QE is even better.
Seriously, it’s worth a read for the sheer unadulterated fuckwittery of it.
His plan in simple terms – reverse QE, but give the banks back totally illiquid perpetual bonds.
” but give the banks back totally illiquid perpetual bonds.”
Er… that’s money…