Worst global, economic crisis in 90 years. https://t.co/GdcCDJZU3U
— Carl Quintanilla (@carlquintanilla) May 18, 2020
— Alastair (@StockBoardAsset) May 18, 2020
"The proponents of 'Modern Monetary Theory' are wrong in suggesting that a government that issues debt in its own currency can increase the debt with impunity. There is a point which the market will tell you you’ve gone too far."
– Dr. Daniel Thorntonhttps://t.co/FhgELRL6rw
— Hedgeye (@Hedgeye) May 18, 2020
I get emails from all sorts of businesses that require walk-in presence how they are bending over backwards to provide (the appearance) of safety.
My take:
– expense of running business goes up
– consumers will be back, at varying paces
-> margins will be depressed for some time— Axel Merk (@AxelMerk) May 18, 2020
Since 2013 foreign investors have not been big net buyers of US Treasury debt. As @Brad_Setser has repeatedly pointed out.
In 2020 unlike in 2008 foreigners sold -> Fed is main (net) buyer absorbing newly-issued COVID-19 debt.
Data via @SoberLook pic.twitter.com/pn5MhraXMg
— Adam Tooze (@adam_tooze) May 18, 2020