Sunday, February 25, 2018
Fiscal Policy Discussions Back
I was out of commission with the flu this week, so I really did not keep up with the news flow. A lot was happening on the Fed outlook front, but I will not be in a position to comment until later. (This article is a bit of a placeholder status report; I prefer not to miss my Sunday article.)
A floating currency sovereign default risk book written by a MMT-er sounds like an entry into the "really short book" joke list. (Text of book: "None!") However, a fixed income analyst needs to be paranoid (you aren't getting bailed out by growth), so it is necessary to dig into all the details. Political risk remains, so we need to think what might trigger that political risk. The book would be more technical than my previous books (similar to the upcoming breakeven inflation book), although I think all the key points would be summarised so that casual readers will pick up some information before they give up.
The only alternative is a collection of articles from my blog (following the model of Abolish Money!, but probably with less original content). I was going to do such a book on banking, but the sovereign risk book looks more interesting right now.
My inflation breakeven book was obviously set back by my flu; my revised target is to finish the first draft this week. It will sit for awhile (1-2 months) before the final editing pass.