Eric Tymoigne

@tymoignee

Economist @lewisandclark @LevyEcon (Macroeconomics, Money, Finance, Political Economy). (MOSTLY INACTIVE AND RARELY CHECKED, Email for Qs: [email protected])

Portland, OR

college.lclark.edu/live/profiles/…

Joined April 2015

Pinned
Eric Tymoigne
@tymoignee
Mar 12, 2020
Thread The CBO is at it again with its new Primer on the Federal Debt cbo.gov/system/files/2… Below is a thread but for a fully developed counter argument see this: tandfonline.com/eprint/RBIF35M…
Eric Tymoigne
@tymoignee
14h
1- C’s theory is a good example of the light bulb jokes about economists. No understanding of the underlying institutional details behind BB, just make up an “explanation” 2- Treasury does not manage debt merely along a budgetary logic cause debt is a macro management tool.
Greg Ip
@greg_ip
16h
Bessent's (and John's) theory rests on the presumption that Treasury knows better than the market where interest rates are headed. By contrast, Treasury debt management had since the 1970s rested on the belief it could not outguess the market, and that borrowing costs would over
Eric Tymoigne
@tymoignee
Aug 25
Synthetic PIK, level 3 valuation, credit and liquidity “enhancing” via securitization, bypassing of leverage regulation via “innovation”, embedded leverage, etc are all growing. We are in for a replay of 2008 if we let this go on.
A ‘democratised’ financial crisis is still a crisis
From ft.com
Eric Tymoigne
@tymoignee
Aug 24
Discussions surrounding the public debt are always full of passion, but the buyback disc is really topping it. It is not YCC (no yield targeting with gov buying and selling on demand at a specific yield), no QE (no net reserve injection), no operation twist ( maturity neutral).
Eric Tymoigne
@tymoignee
Aug 21
Based on this paper: levyinstitute.org/publications/m…
Macro n Cheese Podcast #MMT
@CheeseMacro
Aug 21
#Capitalism doesn't just occasionally malfunction, it structurally evolves toward financial fragility. #Ponzi finance replaced the postwar system w/ one where #speculation dominates and shadow banking runs wild. New ep ft @tymoignee Sat 8/22 @ 8 am ET. All our eps in link below