Karthik Sankaran
@RajaKorman
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Formerly many things. 1st to rhyme Duce & Juche. Neoliberal Peacenik. Macro Expat. Lunch Special seeker. 1/3 each phlegm, spleen, and dad humors.
Bay Area
Joined October 2013
Here’s a piece expanding on what began as a tweet on the Trade, National Security, and Financial Stability Dollars. Thanks very much to Robin for editing and coming up with a far better headline than I did.
The Three-Dollars Problem
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@KingranYama @AravSrinivas And the easy one was just 2 years ago because it was also Philadelphia vs. KC.
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@KingranYama It’s wrong. I have at least 8 times on the first question. The Patriots are basically a Boston team but presumably it can look that up.
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Default lies not in R*s, but in ourselves.
I almost didn't write anything because it's so obviously breathtakingly stupid that I suspect markets will just shrug it off as just another brain-fart, but I guess we'll see.
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RT @PaulJHeer: "The challenge of working out a mutually acceptable version of world order must be preferable to the dangers of concluding p…
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Even if there is such a thing as an expansionary fiscal contraction, and if —by construction—we’re going to see EFC and deregulatory miracles lead to trend real GDP of 3% and we still have an inflation target of 2%, why wouldn’t the 10 year UST yield move to 5% instead of to 4%?
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@cszabla Also, it could elect a PM who is not only the beau ideal of a supranational technocracy deeply embedded in fiat currency central banking but also has experience in a major firm engaged with global commercial real estate.
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@ericadyork @RiccardoTrezzi The real political challenge is having to explain this, which is probably why no one is even trying.
The basic arithmetic is that to simultaneously increase investment as % of GDP and to reduce net capital inflows as % of GDP, a country needs to reduce consumption (whether publicly or privately funded) as a % of GDP. I have ideas (healthcare % GDP) but the basic politics—dunno??
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RT @70sBachchan: Brazil has launched a new industrial policy (NIB). It is a promising venture that demonstrates a clear understanding of em…
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@profplum99 @gdp1985 @JonathonPSine That was the lament in November 2016. And as you know I have issues with 2 ideas in Trade/Class Wars (Spring 2020). A) the size of US trade deficits is determined SOLELY by RoW decisions on S/I. & B) Persistent $ centrality has led to persistent $ strength (subject of blog link).
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But since the OP actually featured the term “State Capacity.”
I���m sorry but I cannot resist. The real threat to American prosperity
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Everything you wanted to know about that unfinished building next to the East River on Maiden Lane but were afraid to ask.
@nicolatwilley .@ericlach chronicles the saga of 1 Seaport, a high-rise condo that was touted as an upscale oasis on the Manhattan waterfront—until the developers learned that the skyscraper was tilting.
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@gdp1985 @JonathonPSine If only she had gone to Wisconsin we might have avoided a lot of bad macroeconomics.
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RT @gdp1985: Miran's central claim is that inelastic global demand for USD reserves drives USD "overvaluation". While it's complicated, tha…
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The math is pretty hard here even if I’ve long maintained that while the size of trade deficits is a macroeconomic issue, their composition is a (geo)political issue. The US goods deficit is a shade over 2% of (global gdp ex US and CN).
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I’m sorry but I cannot resist. The real threat to American prosperity
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