Saint Louis, Janet Yellen, LEE discussed on The Politics Guys


Two punch you take a look at one of my favorite websites in the entire world is to saint louis feds economic research site which is just full of charts and graphs and fun stuff for people like that and you take a look at that. Federal debt and. There's a huge huge up night. Even like a sky slugger skis seek ski slope. It's the empire state building. It's just like exempt and so that's why in a way. I'm not terrific. Lee concerned. But i i wanted to talk about that point. You made about the indicators. Because you're right. Sometimes those things can be lagging indicators. But i'll also point out that one of the most common indicators we use is the inch is the interest rate on ten year treasuries and of course those are investors who are looking well that far out into the future and so maybe that is. I would argue a slightly less lagging indicator then many which is not to disagree with your point entirely but just to say that. I think that's maybe a little less sell than something like say looking at the housing market for the previous recession that being that being pretty much lagging indicator and some other things like that. That's that's a fair point. That's a fair point. Now you know the last piece here. That i wanted to kind of talk about on this. Mike is to think about the fact right. We still do. We don't want to spend too much time. We still do have of course to and you point out to big spending hopes coming from the bind administration and from but to get them through. They're gonna need reconciliation but we only have one more reconciliation to go. Do you think the fact that we've now extended this but mcconnell's put the stamp on it changes the calculus on that makes a little bit more difficult since we're going to need to see that coming via singular reconciliation process. Because as i understand that there's a way to work the the work the senate rules where they can get to reconciliation bills before the end of the year. So i don't really. I don't really think that's a that's a problem. And and if they need the besides the process in the end i think they'll have the votes to do that sort of thing as opposed to just something more radical doing away with the filibuster. Which which. I don't which i don't think will happen and i gotta say speaking of radical that idea that. I'm sure you've heard time a few times when when this comes up. Is that idea of minting. A one trillion dollar platinum coin as sort of a salute. that that's the thing and i gotta. There's a certain appeal to that. Some listeners may know i'll under legislation. congress passed most recently in two thousand and one. The treasury department treasury secretary can basically authorized the minting of a platinum coin at any value without congressional approval. And so there's nothing that law as if read literally means that you know janet yellen could say here. Here's a trillion dollar coin. And we're just gonna draw on that. And i think i've seen some fanciful interesting designs that sort of thing and that's one way out of it but somehow i don't think janet yellen is going to take that take that i mean i think the amount of blowback that that would create in the confidence. Yeah but it is interesting where people won't go when they think here's the way but but i think we should roy. Yeah i think in terms of how how this will play out. I am with a high degree of confidence. I think this this gets taken care of. And we get the white one trillion half a half a trillion dollars in new spending infrastructure bill and we get around two trillion dollars in the in the other in the other before the end of before the end of the..

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