William Blair Santos Allen
@willballen.bsky.social
Retired consultant in international macro finance and capital markets. Converted to MMT as truth.
Now humble second career as lover of all things nautical and USCG licensed Master Mariner.
Finally doing something socially productive?
Now humble second career as lover of all things nautical and USCG licensed Master Mariner.
Finally doing something socially productive?
Reposted by William Blair Santos Allen
This is what happens when for over 70 years we've let the credit card industry trap people in the lower classes into a high interest debt lifestyle.
It becomes the foundation of so much higher class wealth generation that they resist ending the lifestyle to protect their wealth.
It becomes the foundation of so much higher class wealth generation that they resist ending the lifestyle to protect their wealth.
January 15, 2026 at 12:46 PM
This is what happens when for over 70 years we've let the credit card industry trap people in the lower classes into a high interest debt lifestyle.
It becomes the foundation of so much higher class wealth generation that they resist ending the lifestyle to protect their wealth.
It becomes the foundation of so much higher class wealth generation that they resist ending the lifestyle to protect their wealth.
Commercial bank lending determines M2 money supply. I wonder how much T-bond issue, supposed to sop up gov spending in excess of taxes, is used as repo collateral for loans that increase money supply? 50% of issuance? So 50% of deficits end up increasing money supply? Would explain flush liquidity.
January 15, 2026 at 8:25 PM
Commercial bank lending determines M2 money supply. I wonder how much T-bond issue, supposed to sop up gov spending in excess of taxes, is used as repo collateral for loans that increase money supply? 50% of issuance? So 50% of deficits end up increasing money supply? Would explain flush liquidity.
No need for an IMF rescue for UK now?
January 14, 2026 at 9:03 PM
No need for an IMF rescue for UK now?
We need a sticker to slap on these with photo of smirking trump pointing and saying “I did this!” Can someone with graphics skills make this for us all to use?
January 14, 2026 at 5:20 PM
We need a sticker to slap on these with photo of smirking trump pointing and saying “I did this!” Can someone with graphics skills make this for us all to use?
Maybe more honest reporting from him if he tips a few before the show?
January 14, 2026 at 1:17 AM
Maybe more honest reporting from him if he tips a few before the show?
Trump is such a freedom fighter! Of course, Schumer is “very concerned”. So sad.
January 13, 2026 at 10:15 PM
Trump is such a freedom fighter! Of course, Schumer is “very concerned”. So sad.
Sane washing W now. Haha. How far we have fallen!
January 13, 2026 at 9:53 PM
Sane washing W now. Haha. How far we have fallen!
I certainly would not meet the Trump thugs without full EU in the room. So sad.
January 13, 2026 at 9:33 PM
I certainly would not meet the Trump thugs without full EU in the room. So sad.
10% mais be a little low. But before 1978 caps of 18% we’re not uncommon. Visa/MC duopoly pricing at rates >28% is absurd!
January 13, 2026 at 9:29 PM
10% mais be a little low. But before 1978 caps of 18% we’re not uncommon. Visa/MC duopoly pricing at rates >28% is absurd!
Is this just a play in the steeper yield curve?
January 13, 2026 at 9:26 PM
Is this just a play in the steeper yield curve?
This seems more reasonable
January 13, 2026 at 9:22 PM
This seems more reasonable
Thanks! As a Bernie Sanders progressive, I am sure we would disagree on a lot of specifics. But I agree with the general thrust of your well written article. So sad.
January 13, 2026 at 9:16 PM
Thanks! As a Bernie Sanders progressive, I am sure we would disagree on a lot of specifics. But I agree with the general thrust of your well written article. So sad.
Rats! Links always expire before I see them in California time!
January 13, 2026 at 8:45 PM
Rats! Links always expire before I see them in California time!
Vida/MC duopoly have pushed credit card rate above 28%. Before 1978 many states had usury ceilings of 18%. I don’t remember any shortage of credit then. And consumers were doing okay.
January 13, 2026 at 8:27 PM
Vida/MC duopoly have pushed credit card rate above 28%. Before 1978 many states had usury ceilings of 18%. I don’t remember any shortage of credit then. And consumers were doing okay.
With the Visa/ MC duopoly, without any usuras constraints these guys have driven credit card interest rates above 28%. Before 1978 many states had usury ceilings of 18%. I don’t remember there being any shortage of credit back then. Consumer seemed to be doing ok.
January 13, 2026 at 8:12 PM
With the Visa/ MC duopoly, without any usuras constraints these guys have driven credit card interest rates above 28%. Before 1978 many states had usury ceilings of 18%. I don’t remember there being any shortage of credit back then. Consumer seemed to be doing ok.
Catalyst? Haha. Insider trading.
January 12, 2026 at 3:55 PM
Catalyst? Haha. Insider trading.
I am onboard with a Tobin tax!
January 11, 2026 at 11:07 PM
I am onboard with a Tobin tax!
Any chance of renewing this free link for those of us on US west coast? Thanks!
January 11, 2026 at 9:32 PM
Any chance of renewing this free link for those of us on US west coast? Thanks!
Trump will love Pahlavi as new king of Iran. As did previous US conservatives when their Iranian leader in the 1950s to install his father, the first Shah.
January 11, 2026 at 9:00 PM
Trump will love Pahlavi as new king of Iran. As did previous US conservatives when their Iranian leader in the 1950s to install his father, the first Shah.
Sorry typo. Meant $50,000.10
January 11, 2026 at 8:45 PM
Sorry typo. Meant $50,000.10
Bag was worth 10 cents so technically he took $10,000.10.
January 11, 2026 at 8:41 PM
Bag was worth 10 cents so technically he took $10,000.10.