I was interviewed by Tracy Alloway and Joe Weisenthal for a Bloomberg Odd Lots podcast on government bond auctions. I gave a basic overview of the operations involved (MMT style), as well as rambling on about the interest rate effects.
I did the interview when I was working on my Kalecki Profit Equation primer, and I discovered that a lot of macro description involves nattering on about circular income flows. My feeling is that what differrentiates (good) macroeconomics from micro is the awareness of circular income flows.
One of the themes of the podcast is the interesting question: why doesn’t increased supply cause bond yields to rise? I am currently on the road, but may return to that question later.
Tuesday, July 10, 2018
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That was very well explained. Great job on the podcast!
ReplyDeleteJoe is super smart and hides the fact the he knows the answers to the questions he asks
ReplyDeletehttp://www.businessinsider.com/why-treasury-prices-are-so-high-despite-record-supply-2012-6