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“But let's assume because we've got the money supply growth, their wages go up to 1,500. Now, they're still going to be pissed off because prices are going up, but it's not going to impact aggregate demand that much because their wages are going up.”
“When you're getting holes blown in the balance sheets of the entities that at the end of the day are responsible for really printing the money, it isn't the Federal Reserve. Money's going to be tight. When money gets tight, you see that exacerbate the credit event.”
“Because the M2 is what you can feel, right? The M2 is essentially the boomers, right, that we were just talking about.”