Wednesday, November 14, 2012

Winterspeak on bond vigilantes and NGDP targeting


The quote is from Nick Rowe. Winterspeak responds from the POV of monetary economics versus monetarism.

Hint: It's the transmission mechanism, as MMT proponents have been saying from the time that NGDP targeting was surfaced, not mention seeing bond vigilantes' faces in the clouds.

Winterspeak.com
"Japan looks even more unstable than the US"
Winterspeak

3 comments:

Adam2 said...

The reason net private sector savings are so high is because taxes on capital and high income earners are low.

Unknown said...

Krugman makes a useful argument (worth reading):

https://webspace.princeton.edu/users/pkrugman/The%20Simple%20Analytics%20of%20Invisible%20Bond%20Vigilantes.pdf

Greg said...

I know where the bond vigilantes are.

They are out with the confidence fairies doing blow.