SBF

SBF @SBF_FTX

@austerity_sucks @NathanTankus ☠️ what's an example of something I got wrong? not to be a dick--but listing out a… https://t.co/Dr0I5yyV7u — PolitiTweet.org

SBF @SBF_FTX

RT @gaborgurbacs: @SBF_FTX https://t.co/uPYBJMseAi — PolitiTweet.org

SBF @SBF_FTX

50) Thus, BTC. And oil, and nickel, and SPY, and houses, and art, and bonds, and VC fund sizes, and private market… https://t.co/86eHa9zJCf — PolitiTweet.org

SBF @SBF_FTX

49) We have, accidentally, been exploring Post-Modern Monetary Theory as a society. A system designed so that numb… https://t.co/ZzZ5sT8ZSB — PolitiTweet.org

SBF @SBF_FTX

48) Those are, sometimes, two sides of the same coin. And, also: c) QE → number go up → easy to get financing → n… https://t.co/DJEMPcFli7 — PolitiTweet.org

SBF @SBF_FTX

47) So in the end–I don’t know what will happen going forward. I wish I were smart enough to see the future, rathe… https://t.co/wHFXskUPtr — PolitiTweet.org

SBF @SBF_FTX

46) And also, there’s a war going on now, on top of COVID; there will be pressure to prevent markets from crashing,… https://t.co/qN51TTAQCO — PolitiTweet.org

SBF @SBF_FTX

45) So I don’t know what this means going forward. On the one hand, there are real signs of tightening policy for… https://t.co/2p90x2yEwL — PolitiTweet.org

SBF @SBF_FTX

44) Instead, CPI increasing this year had the effect of increasing political pressure to reduce inflation by tighte… https://t.co/1o1FW1pvMq — PolitiTweet.org

SBF @SBF_FTX

43) CPI increasing this year doesn’t make markets go up more: markets already knew that the monetary supply had inc… https://t.co/z5aQnBNpdV — PolitiTweet.org

SBF @SBF_FTX

42) Maybe. But maybe not. Because to some extent, that should already be priced in to “efficient” markets. As so… https://t.co/IO2svvHFiv — PolitiTweet.org

SBF @SBF_FTX

41) So what does all of this imply for the future? Well, on the one hand, inflation–true inflation–is high. Reall… https://t.co/2dVu4JEDyW — PolitiTweet.org

SBF @SBF_FTX

40) And, I guess, it ‘tricked’ some of us into thinking that things were going great, because “number go up”, when… https://t.co/SQpTv0Kgfc — PolitiTweet.org

SBF @SBF_FTX

39) And so some of what’s happened over the last decade–and especially over the last few years–is that bad things h… https://t.co/vH20Z8cqEn — PolitiTweet.org

SBF @SBF_FTX

38) But if you don’t adjust how you look at the charts, then it seems, I guess, like everything just went up 50%.… https://t.co/vIhlHxad4v — PolitiTweet.org

SBF @SBF_FTX

37) There’s another side to this, too, though. “Number go up.” See, if all you do is ‘stock split’ the US Dollar,… https://t.co/Qn5Fydfc6d — PolitiTweet.org

SBF @SBF_FTX

36) And so to some extent we made a trade, as a world. We accepted higher inflation that generally makes sense, in… https://t.co/5yp0lzY8WL — PolitiTweet.org

SBF @SBF_FTX

35) I mean, partially what happened, probably, was that commerce and investment were incentivized by loose monetary… https://t.co/5ag7ZfTR51 — PolitiTweet.org

SBF @SBF_FTX

34) In 2008, every bank almost failed. And then in 2020, the world economy half shut down for two years. And some… https://t.co/pXhItT6IA8 — PolitiTweet.org

SBF @SBF_FTX

33) Does that mean that monetary policy has been bad and reckless? I don’t know–it’s complicated. Because we’ve o… https://t.co/lCDhFs8YNM — PolitiTweet.org

SBF @SBF_FTX

32) And 17% is a lot. So, in the end, I think that in some senses the straightforward answer is the correct one.… https://t.co/z9dWlehdeC — PolitiTweet.org

SBF @SBF_FTX

31) And if you average those out, you get something closer to what the monetary growth implies: that real, true inf… https://t.co/PGlAs4W2ft — PolitiTweet.org

SBF @SBF_FTX

30) So, ok, CPI inflation has been somewhat stable, but other measures of price inflation have been huge, because C… https://t.co/3L1kffcyIe — PolitiTweet.org

SBF @SBF_FTX

29) (An interesting aside: when a ton of capital flows into those assets, and prices appreciate, then the investor… https://t.co/9wNn2e0g5c — PolitiTweet.org

SBF @SBF_FTX

28) So yes, cryptocurrencies. But also stocks, and high end housing, and private planes, and art, and NFTs, and sp… https://t.co/xDym6M16U8 — PolitiTweet.org

SBF @SBF_FTX

27) In particular, given the amount of wealth that has gone towards creating the richest in history, the assets who… https://t.co/ESaLrdt0Gf — PolitiTweet.org

SBF @SBF_FTX

26) Ok, so, yeah, some things are up a lot more than CPI over the last few years. https://t.co/DF4dgHGGpm — PolitiTweet.org

SBF @SBF_FTX

25) And, in fact, CPI inflation has been roughly in line with median wage growth! So, ok, if @elonmusk doesn't buy… https://t.co/uNvwZivlhv — PolitiTweet.org

SBF @SBF_FTX

24) And, the thing is--what drives CPI? Well, CPI is, basically, bread. Elon Musk is worth roughly one million ti… https://t.co/MKkFMg1XNK — PolitiTweet.org

SBF @SBF_FTX

23) Some of this is the rich getting richer; some is _new_ people climbing higher than anyone from 2007. But, one… https://t.co/WbyfhyWZZB — PolitiTweet.org