Money & Markets Report: January 5, 2023


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Theme: Mr. Reality vs. Mr. Global

Interview: 2030 Backcasting with Catherine and Solari Series Hosts and Allies

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137 Comments

  4. Catherine,

    As a point of information, a friend attended the Texas Bowl college football game at NRG Stadium in Houston. His cash was refused at 100% of the food and drink as well as gift shops. He asked the stadium personnel and they informed him that they were no longer accepting cash anywhere in the stadium.

    We are here….

  5. McCarthy voted in as Speaker.
    Among the causes espoused by the GOP rebels, in particular Bobert, was a commitment to a balanced US gov budget.
    Pulling two or three trillion US$ each year from the House that Nancy built cannot happen.
    It also can’t not happen.
    Either way, it looks like MMT (Modern Monetary Theory) is gone.

    1. Maybe there should demand the $21 trillion back. That should balance the budget.

      1. Are there any Sovereign banks in Texas, not subject the FED rules? Anyone have a list?

    2. Oh cool, I was thinking about doing a Backcasting 2030 as well. I don’t think you submit them here though. Anyway, a little constructive criticism, I don’t think yours is as believable as some of the others but it sure was a fun thought. I particularly enjoyed imagining MMT was eliminated, or at a minimum not implemented by psychopathic vampires draining an economy instead of… well, literally anything else. So did you imagine the central banks and the fed just disappear? Please elaborate on that portion since those institutions seem to be the ones filling Nancy’s thermos with vodka and Valium everyday, propping Mitch’s neck from collapsing in on itself creating a black hole and supplying the nanites responsible for these terrible, endless installments of Weekend at Brandon’s.

      1. Thanks for the reply. I see a leap in logic between the challenge to MMT and the disappearance of Central Banks and the Fed.
        https://www.zerohedge.com/geopolitical/luongo-2023-biden-impeached-riyal-de-pegged-fed-terminal-rate-closer-7
        https://tomluongo.me/2023/01/07/goat-predictions-2023-losing-my-religion/
        “Embedded in the deal crafted are sincere nods to exactly the kind of signals to fiscal conservatism – halting the budget at FY 2022 levels, balanced budget in 10 years, 3/5ths vote on tax increases, etc. — that I’ve argued is needed to back up Powell and the Fed’s monetary tightening.”
        I’ll be interested to read your thoughts.
        $21Tn … LOL

      2. I have always found with these things that you can 50 ideas, most of which are ridiculous or not that good and then you get a few that are golden, and those make it worth the effort – including the fact that you start operating towards victory. That is the best part.

  6. Catherine,
    Is there a link to the WSJ article about the Russian soldiers being ordered not to turn on their cell phones? I’ll try to search for it but thought I would ask here for a link if possible. I would love to share that. Excellent Money and Markets with you and John as usual! Many thanks.

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