I think we're headed for a deflationary period. Now is not the time to take on debt.
Conversation
Replying to
if the system were evolving in isolation, I'd agree. In reality I have to imagine the fed starts pumping the markets at some point? esp w trump whispering [screaming] in powell's ear
1
2
Replying to
markets can be pumped many ways beyond just FFR. Fed could eliminate IOER & pledge to buy billions/trillions of assets (from bonds to mbs to stocks, as in japan)
they're more socially constrained than they are technically constrained -- & pandemic may change that
1

