ZIRP is just as much money-printing, whether or not any significant amount is loaned out by commercial banks, as was QE...I sure won't be parting with any bullion just yet. But it will be interesting to see who takes up long bond buying, won't it?
I enjoy reading your posts. But I cannot stand these videos, sorry.
Reading is an active occupation, encouraging the brain to involve itself. I can reread sentences, scan through the post to remind previous points... Watching a video is passive, and has a single time axis. One cannot think while obliged to follow the stream of images and sounds.
I'm more of a reader too, grabbing blog posts in between other activities. The video seems slower and requires more dedicated time, yet the info uptake does not seem to reflect the higher investment of time.
I worked on Wall Street for twenty five years. This blog is my take on the financial issues of the day.
I was an FX trader during the early days of the 'snake' and the EMS. Derivatives on currencies were new then. I was part of that. That was with Citi. Later I worked for Drexel and got to understand a bit about balance sheet structure and corporate bonds from Mike Milken. I was involved with a Macro hedge fund later. That worked out all right, but it is not an easy road. There was one tough week and I thought, "Maybe I should do something else for a year or two." That was fifteen years ago.
I love the markets. How they weave together. For twenty five years I woke up thinking, "What am I going to do today to make some money in the market". I don't do that any longer. But I miss it.
ZIRP is just as much money-printing, whether or not any significant amount is loaned out by commercial banks, as was QE...I sure won't be parting with any bullion just yet. But it will be interesting to see who takes up long bond buying, won't it?
ReplyDeleteHello Bruce
ReplyDeleteI enjoy reading your posts. But I cannot stand these videos, sorry.
Reading is an active occupation, encouraging the brain to involve itself. I can reread sentences, scan through the post to remind previous points...
Watching a video is passive, and has a single time axis. One cannot think while obliged to follow the stream of images and sounds.
Please go back to writing.
Thanks
I'm more of a reader too, grabbing blog posts in between other activities.
ReplyDeleteThe video seems slower and requires more dedicated time, yet the info uptake does not seem to reflect the higher investment of time.
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