When QE Is Not QE

Symantic bullshit in the 21st century.

42
Wed, Oct 9, 2019 - 11:08am

What's that old saying about how if it walks like a duck and quacks like a duck?

I think we covered this pretty well in yesterday's podcast but just to be sure, let's try to summarize this again. Here's a tweet I sent out to the world earlier this morning:

According to Powell...

QE = Creating dollars to monetize debt/treasuries while also providing corporate welfare for member Banks by assuming worthless MBS from their balance sheets.
NOT QE = Creating dollars to monetize debt/treasuries.

...

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