oh, good ... so now every shittily managed city's debt is shouldered by all of us? OR do i have this wrong?https://twitter.com/byHeatherLong/status/1254870462720626688 …
You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more
That's the Cantillion Effect, and it's small or nonexistent Otherwise, fed purchases don't subsidize anything; they affect the overall interest rate no matter WHAT assets they buy, and the interest rate is not a subsidy, it's a tool for controlling the money supply.
the Cantillon effect is the change in money supply resulting from such a purchase, IIRC? and I think it IS a subsidy, in the following sense: if Chicago would have to offer 20% to issue new bonds but USG is willing to buy a new issue at 3%, then USG is effectively paying 17%
It it makes you feel better, this is all really about propping up a bunch of dumb foreignors who foolishly created a lot of dollar demonitated debt making it possible to (right now) create a near endless supply of dollars to bail ourselves out and to delay their inevitable fall
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.