Comments by "Frederick Miles" (@frederickmiles8815) on "Why Economists Don't Care About the Debt" video.

  1. Economist in modern America do not understand our fractional reserve banking model - nor do they understand the risk across the multiple Repo markets that cheap liquidity has fostered. The liquidity trap that they have created they cant fix and watching these ivory tower failures flail around trying to explain why 7 trillion + on the Fed's balance sheet means nothing for the real economy is comical. Fractional Reserve Banking only works if countries, people, and firms have the ability to borrow from primary dealer banks - low rates are a sign of an economy on life support - a sign that the potential banking clients and consumers are so heavily in debted that no bank in its right mind would lend to them. So whats left - A clown car of sh*tbags whose debt monetization policy (MMT) has created the biggest wealth gap in the history of the republic. They fail to understand that QE is delationary - sucking liquidity out of the real economy; and jacking up the value of financial assets - nor do they understand that every world reserve currency holder engages in this last ditch effort prior to a major military conflict where they lose everything. If that day comes I look forward to watching them all choke down their hemlock and fade to black.
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