@IrvingSwisher thanks Skanda. I don't understand the basic point he makes about the level of reserves responding to fed funds target. the only entity that determines the level of reserves is the fed itself. they cannot go up or down unless the fed adds or takes them out. closed system.
@NewLeftEViews "Banks face such shortfalls when households, due to their changing liquidity preferences, save less by spending or withdrawing newly created deposits quickly." where do the spending and withdrawals go?
@williamfleitch@TheAthletic its pro sports now. these schools are investing too much money in these programs to allow for the old amateur mindset of plucky "inclusion". the same reason why pro sports in the US does not have relegation.
@BamaBonds I’m not saying that everything is or will be fine. Nor am I expert in pension accounting but these ratios don’t represent what most people on this site think. If anyone wants to try to learn the full context read Tom Sgorous.
@rSanti97 very good discussion. i wonder if a fuller dissection of pension accounting in the context of municipal pensions is worthwhile. i have been hearing about this for 20 years, and now it "probably won’t come to a head this year, or next year, or maybe not for fifteen years."