Marat Markert
@maratmarkert.bsky.social
630 followers 800 following 390 posts
Interested in Money, Monetary Policy, Central Banks, EU Politics...and tips on how to land kickflips before I retire
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maratmarkert.bsky.social
The ideological underpinnings of Germany's exportist growth model - while supposedly the glue that keeps together the social bloc supporting this growth model - seem to undermine that very growth model. www.springerprofessional.de/en/exportism...
maratmarkert.bsky.social
Anyways, good/insightful interview
maratmarkert.bsky.social
...but politicians from right wing parties don't want to change)
maratmarkert.bsky.social
On housing and tax preferences benefitting real estate developers, based on NYC's experience: "you can increase [housing] supply as much as you like. As long as housing is a financial asset, you'll really only be increasing the supply pool for investors" (sth policy-makers in NL understand too...
maratmarkert.bsky.social
And all of that before the rise of collateralized lending as a central element to financial markets and monetary policy implementation.
maratmarkert.bsky.social
What's so interesting about this is that it solves the puzzle of how you can render compatible the idea of the state as a collateral factory for debt for financial markets, while at the same time advocating austere fiscal policies...
maratmarkert.bsky.social
Cooper explains here how supply-siders (Mundell) saw that dollar hegemony after the collapse of the gold-dollar standard could be maintained.
maratmarkert.bsky.social
"freedom to issue debt is not the same thing as unconditional freedom to spend [...] Congress can only keep spending as long as its spending doesn't empower labour [...]. You can spend as much as you like as long as it's subsidizing the inflation of asset prices, not the inflation of wages." (47:30)
maratmarkert.bsky.social
Question to #far-right experts/AfD observers: is there a recent piece on the AfD's welfare state/social policies and whether/how they included this in their campaign for the 2025 elections in Germany?
maratmarkert.bsky.social
Historians: anyone has suggestions for a book/articles on urban history of The Hague (20th C, in dutch or engl)? I learned from a friend yesterday that the population in The Hague was much larger during 1950s/1960s than today and about the NL housing policy during the postwar era. Any pointers? 🙏
maratmarkert.bsky.social
To be fair to crypto (DeFi): at least you could see how "the sausage is made" given that specialized crypto funds were telling potential customers how to build leverage in a system that was build on the premise to not to lever up (and supposedly constrained this through an algorithm).
maratmarkert.bsky.social
Crypto disavowed tradfi while simultaneously reinventing (imitating) tradfi practices. And private credit now seems to imitate crypto narratives from 4-5 years ago: "high yields, super safe, no double spending possible"
www.ft.com/content/395c...
maratmarkert.bsky.social
First International Super PAC, sponsored by ALL US residents.
maratmarkert.bsky.social
B) will convince a) that debt becomes more sustainable ̶i̶f̶ ̶t̶h̶e̶r̶e̶'̶s̶ ̶d̶e̶m̶a̶n̶d̶ ̶f̶o̶r̶ ̶i̶t̶ if you add an additional intermediary who collects all the interest (coupon) payments.
maratmarkert.bsky.social
results, then I can't see how this would be accomplished through millions of savers across Europe investing in index funds/ETFs.
maratmarkert.bsky.social
index funds (good chunk outside Europe). Likewise, most savers would invest in index funds, making these entities bigger, and the bigger they get the less exit options there will be - so if one is to believe the narrative that more private investing would spur innovation b/c investors want to see
maratmarkert.bsky.social
Does anyone believe the tropes about "more innovation", "better jobs"? If that was the case, you would see it in NL. But a cursory look at where ABP (one of the largest pension funds in the world!) invests shows that it's not in SMEs or even primarily European companies, but bonds...
maratmarkert.bsky.social
What I can't wrap my head around is: not wanting to administer a rate, because supposedly a (single) market rate can do it better. But then also: it's a market that is "risk-free" and relies primarily on government debt.
maratmarkert.bsky.social
How much of that is due to pricing strategy of firms (those very actors who supposedly must want a single market), rather than national policy/regulation?
maratmarkert.bsky.social
This isn't just policy or varying costs across two very similar countries (BE and NL), this is pricing strategy by firms.
maratmarkert.bsky.social
by the same producer / distributor? Do H&M's costs vary so much between BE and NL?