Monday, August 27, 2018

Boom Phase New York Federal Reserve Propaganda

The Federal Reserve Bank of New York tweeted this out this morning:
Yeah well, economics is awesome and fun but not the money-manipulative business cycle-creating type of economics promoted by the Federal Reserve.

SEE: The Fed Flunks: My Speech at the New York Federal Reserve Bank 


1 comment:

  1. MMTers are in ecstasy. From Mike's [Mike Norman] latest:

    Total spending for the fiscal year thus far thru August 24, $4.3T, up $158 bln over last year and growing at 3.82%. This is the largest y-o-y positive gap so far and growing at the fastest year-o-y rate.

    Corporation Taxes, $206 bln, down $53.5 bln...down from the tax cuts...
    Bank credit up $12.4 bln to $12.795T, the highest in 3 weeks. The growth rate held steady at 3.7% y-o-y. Loans and Leases in Bank Credit, up $5 bln to $9.382T. The growth rate ticked up to 4.7% y-o-y. Commercial and Industrial loans were up $5.4 bln to $2.224T. This is the highest level in 3 weeks. The growth rate accelerated to 5.7% y-o-y.

    Not too shabby...