Discover and read the best of Twitter Threads about #savingsglut
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In a world where people still starve (though thankfully proportionately fewer over time) and material needs in general are unsated, there can be no #savingsglut. There CAN be misallocations of saving -due to corrupted price signals or corrupted polities, or both- but that’s...
...a very different matter.
Secondly, ‘saving’ is supposed to represent an available resource -whether for consumption or production, whether material or human. It is NOT something which magically appears when the #centralbank & its minions sit behind a keyboard...
Secondly, ‘saving’ is supposed to represent an available resource -whether for consumption or production, whether material or human. It is NOT something which magically appears when the #centralbank & its minions sit behind a keyboard...
If #JeromePowell or M #Lagarde cause a million smackers to appear in everyone’s account overnight, bank balances will have risen; #savings, will NOT. Even a man as unnuanced as Mussolini got this, sneering that Italians’ wealth would not rise if they all had more printed...
