iiinova — where your digital self keeps evolving

Just A Bill @txex.bsky.social · 14/09/2025

Saw this today. Good flick, a bit different from the original that I read maybe 30 years ago?, but I thought it captured the spirit.

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Just A Bill @txex.bsky.social · 28/08/2025

Yep, it has fallen victim to enshittification. Best to delete it and move on.

Just A Bill @txex.bsky.social · 23/06/2025

It's almost like war money is pulled out of thin air, while money for public purpose is buried at the center of the earth. If it actually all comes from the same place, then congress is just CHOOSING to kill people at home and abroad.

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Just A Bill @txex.bsky.social · 22/06/2025

Nor do they understand the the "trust fund" is just an accounting gimmick. They never notice that we don't have an army trust fund for instance and yet somehow we are able to fund it at will.

Just A Bill @txex.bsky.social · 16/06/2025

Not really. Economic myth drove that, but that's a deeper discussion. Agree, that this is probably just a distraction that makes no difference and likely has no intent.

Just A Bill @txex.bsky.social · 14/06/2025

2 ways to conduct monetary policy: 1. Control the quantity of reserves (pre 2008) 2. Control the rate directly (IOR) Take your pick, same result.

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Just A Bill @txex.bsky.social · 14/06/2025

Meh, it would just take us back to pre 2008 where we used supply of reserves to manage rates instead of IOR. Or, we let rates go to 0 and leave them there. Neither is likely to happen with folks still worshipping at the church of monetary policy.

Just A Bill @txex.bsky.social · 11/06/2025

Board games are bit like that too.

Just A Bill @txex.bsky.social · 10/06/2025

To be fair, we will be talking about all the shit taco fucked up for decades to come as it will take some time to recover (if we ever do).

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Just A Bill @txex.bsky.social · 10/06/2025

Deficit is a non-issue. Focus on inequality instead.

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Just A Bill @txex.bsky.social · 10/06/2025

Paying interest to bond holders is just a basic income to people that already have money. It is a policy choice that we could choose to eliminate. The "debt" is our collective savings and is nothing to worry about. I'm not a small gov person, just understand currency.

Just A Bill @txex.bsky.social · 14/05/2025

...and if (big IF) we stop pretending there isn't because of some "big" numbers on a spreadsheet.

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Just A Bill @txex.bsky.social · 16/04/2025

It would be cool if the IRS folks knew that federal taxes simply delete US$ from the economy.

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Just A Bill @txex.bsky.social · 11/04/2025

Small biz owners can't afford their own politicians and therefore don't matter.

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Just A Bill @txex.bsky.social · 04/04/2025

...and then you realize that brat bastard isn't charging you enough. So, every time you buy one, you set fire to an extra 25% so you aren't being taken advantage of. That's the idiocy of the tariff.

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Just A Bill @txex.bsky.social · 24/03/2025

Seems like this is all that's needed: 💩

Just A Bill @txex.bsky.social · 19/03/2025

We can do that already, but choose not too. Us Gov is the sole issue of USD, not "the rich." Don't get me wrong, we should tax them more, but that is an independent policy choice.

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Just A Bill @txex.bsky.social · 17/03/2025

Just silliness. If they were worried about "servicing the debt" there is always the option of not paying a basic income to savers. This narrative always leads to cuts to services for people without savings.

Yes. My point doesn't contradict this. 😉

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She isn't pro debt, but recognizes that money is debt. Nobody is saying we shouldn't have tax collection, but it is important to understand where USD comes from. We don't dig them out of the ground, but rather issue them on demand.

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It's not a business. The gov is the issuer of the USD. It must be issued before it can be collected. When you see a movie, does the theater collect the tickets first and then issue them?

The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy

This is false. Congress funds the government through appropriation. Taxes reclaim that money AFTER it is spent into the private sector. The government is the SOURCE of USD, not the private sector. This is important to understand, many make this error. Start here: www.amazon.com/Deficit-Myth...

amazon.com

Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creat...

Just A Bill @txex.bsky.social · 14/03/2025

Sweet, go with that framing if you like.

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Just A Bill @txex.bsky.social · 14/03/2025

Again, I don't refer to the addition of a import tax (essentially a sales tax whether paid directly or indirectly by the consumer) as inflation. But, you are welcome to if you wish.

Just A Bill @txex.bsky.social · 14/03/2025

Of course, but a step price increase isn't inflation - continuous rise in price level according to mainstream academic definition anyway. Fully expecting tariffs to be passed along to consumers.

Maybe, we'll see how that pans out and how long this "trade war" lasts. I still think it is mostly a market manipulation play to facilitate insider trading for him and his minions.

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It's a step function increase, not continuous. It works similar to a sales tax. Given that it is a federal tax, it also lowers aggregate demand to some extent as it negatively changes the fiscal balance, making it potentially deflationary with all else being equal (which of course it never is).

For Euro to become the primary reserve currency, the euro zone would need to become the primary importer. US is currently the top importer (exporter of dollars). That's where world reserves of USD come from. Last year, the eurozone collectively had a trade surplus.

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Not implying that at all. There is no reason to buy back the bonds. Just saying that we don't need for China or anyone else to buy bonds. Selling bonds at all is an unnecessary policy choice that benefits savers. Regarding the tariffs, inflationary is the wrong word. It is a one time price shock.

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Probably not. Hand waving aside, we should start with understanding why China would even want to depress their stock of USD reserves. The rest of the world are all holders of USD, not issuers. They are just users like you and I. Anyway, out of time for now. Enjoy the day!

no. China doesn't issue USD, US does. The US gov is the monopoly issuer of the currency. Rates are dictated by policy. Large forex trades *can* affect short term exchange rates (assuming they aren't simply selling for liquid USD), but there ultimately settle back to real terms of trade.

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Also, it is important to point out that the headline starting this thread is that Canada is selling new Canadian bonds denominated is USD. This is a reserve liquidity play. They aren't divesting their holdings.

Paul Krugman | Who’s Afraid of China?

Of course. In fact there is a huge secondary market for treasuries. This idea that China is going to decide to "dump" their holdings for *reasons* has been around for a while and still is nothing of concern. It just makes me giggle a little every time I see it. truthout.org/articles/who...

truthout.org

Paul Krugman: The Chinese wouldn’t hurt us if they dumped our bonds; in fact, it would probably be good for the United States.

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Sure, to a willing buyer, right? So, how do you see dumping $T worth of bonds playing out?

I think these are all market manipulation moves for insider trading opportunities.

No, the headline is that Canada is selling new Canadian bonds denominated in US$.

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Explain what that would mean. Dump it where?

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Just A Bill @txex.bsky.social · 06/03/2025

Is anyone paying attention to insider trading amidst all of this chaos?

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I think the strategy is to let it burn to strengthen the anti-trump platform without having to offer anything of substance.

Just A Bill @txex.bsky.social · 05/03/2025

He thinks he's THE king. Look for an executive order banning the use of the word king to refer to anyone else. It will specifically mention Elvis, MJ, Midas, or anyone named King.

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Just A Bill @txex.bsky.social · 05/03/2025

You win the internet today. Congrats.