Khazbi Budunov
@foscaecon.bsky.social
Argentina’s sovereign bonds surged after Milei’s party won the midterm elections. It’s amusing how persistent the market narrative remains that harsh fiscal consolidation can somehow put the economy back on a growth path.
October 27, 2025 at 12:26 PM
Argentina’s sovereign bonds surged after Milei’s party won the midterm elections. It’s amusing how persistent the market narrative remains that harsh fiscal consolidation can somehow put the economy back on a growth path.
Reposted by Khazbi Budunov
"In a sense the budget deficit can be considered as an artificial export surplus."
-Michał Kalecki
-Michał Kalecki
June 13, 2025 at 5:41 AM
"In a sense the budget deficit can be considered as an artificial export surplus."
-Michał Kalecki
-Michał Kalecki
Reposted by Khazbi Budunov
“Uncle Sam’s red ink is our black ink! His deficit is our financial surplus. Just follow the money: $100 goes into our bucket; $90 goes back out to pay taxes; $10 is left in our bucket.”
-Stephanie Kelton
-Stephanie Kelton
May 20, 2025 at 4:48 PM
“Uncle Sam’s red ink is our black ink! His deficit is our financial surplus. Just follow the money: $100 goes into our bucket; $90 goes back out to pay taxes; $10 is left in our bucket.”
-Stephanie Kelton
-Stephanie Kelton
Reposted by Khazbi Budunov
Probably the worst political/analytical instinct of progressives and some leftists is the belief that the solution to our political economy problems are new indices based on lower quality and lower frequency economic data without much methodological justification
May 17, 2025 at 5:30 PM
Probably the worst political/analytical instinct of progressives and some leftists is the belief that the solution to our political economy problems are new indices based on lower quality and lower frequency economic data without much methodological justification
What we should truly be concerned about is deflation in China.
May 18, 2025 at 2:15 PM
What we should truly be concerned about is deflation in China.
Lenny Belardo must become the new Pope.
May 7, 2025 at 8:14 PM
Lenny Belardo must become the new Pope.
Doctor, what’s the diagnosis here?
May 3, 2025 at 7:42 AM
Doctor, what’s the diagnosis here?
Viva la Resistenza!
Viva l'Italia antifascista!
Buon 25 aprile a tutti! 🇮🇹
Viva l'Italia antifascista!
Buon 25 aprile a tutti! 🇮🇹
April 25, 2025 at 8:20 AM
Viva la Resistenza!
Viva l'Italia antifascista!
Buon 25 aprile a tutti! 🇮🇹
Viva l'Italia antifascista!
Buon 25 aprile a tutti! 🇮🇹
Reposted by Khazbi Budunov
Not as effective as Trump providing a soundbite for the news, but the Tories are probably just getting the rye out for their lunch and muttering to themselves.
CANADA'S PM CARNEY: TRUMP BROUGHT UP CANADA AS 51ST STATE DURING MARCH CALL.
April 24, 2025 at 4:56 PM
Not as effective as Trump providing a soundbite for the news, but the Tories are probably just getting the rye out for their lunch and muttering to themselves.
Reposted by Khazbi Budunov
The problem with authoritarianism is that the authoritarians are dumber than a sack of bricks. The survival of American capitalism now relies on the nincompoop who started this mess finding a way out of it.
"In private, some Trump officials concede that they did not accurately predict China’s reaction. Mr. Trump seemed to expect China to be among the first to come begging for relief..."
🤦♂️
www.nytimes.com/2025/04/23/u...
🤦♂️
www.nytimes.com/2025/04/23/u...
Trump’s Tariffs Bump Into Reality as Economic Strategy Wavers
President Trump has said his punishing tariffs would force companies to build factories in the United States. But it is far from clear that they will have the effects he predicted.
www.nytimes.com
April 24, 2025 at 5:51 PM
The problem with authoritarianism is that the authoritarians are dumber than a sack of bricks. The survival of American capitalism now relies on the nincompoop who started this mess finding a way out of it.
Reposted by Khazbi Budunov
US consumers are coming under increasing pressure.
April 24, 2025 at 1:55 PM
US consumers are coming under increasing pressure.
The first economic crisis I remember from my childhood was the Russian crash of 1998. Food prices soared by 100–200%. We couldn’t afford even the cheapest jar of coffee. I think many Russians still can’t shake off memories like that…
April 24, 2025 at 9:06 PM
The first economic crisis I remember from my childhood was the Russian crash of 1998. Food prices soared by 100–200%. We couldn’t afford even the cheapest jar of coffee. I think many Russians still can’t shake off memories like that…
Reposted by Khazbi Budunov
Latest article - quick comment on the situation in the Treasury market.
open.substack.com/pub/bondecon...
open.substack.com/pub/bondecon...
Whither Treasury Yields?
Since I am allegedly writing about the intersection of the bond market and economics, I need to periodically check in with what is happening in the bond market itself.
open.substack.com
April 22, 2025 at 5:04 PM
Latest article - quick comment on the situation in the Treasury market.
open.substack.com/pub/bondecon...
open.substack.com/pub/bondecon...
Reposted by Khazbi Budunov
Tin’s surging relevance.
April 21, 2025 at 6:24 PM
Tin’s surging relevance.
Reposted by Khazbi Budunov
Happy Easter to the haters and the losers.
Yeah probably the most plainly he’s ever laid out his philosophy on tariffs and basically everything else in life
April 20, 2025 at 8:21 PM
Happy Easter to the haters and the losers.
Reposted by Khazbi Budunov
Learn more about Ferdinand Mount on the Siege of Malta in today’s Chartbook Top Link. Visit the link in the comment to read.
April 20, 2025 at 7:26 PM
Learn more about Ferdinand Mount on the Siege of Malta in today’s Chartbook Top Link. Visit the link in the comment to read.
Reposted by Khazbi Budunov
With respect to my liberal finance law friends, if you think defending fed independence at this point is a winning hill for anti trump politics to die on I really hope you have a sense of what disproving that prior looks like and what you'd have to reassess if it ends up being
April 17, 2025 at 8:44 PM
With respect to my liberal finance law friends, if you think defending fed independence at this point is a winning hill for anti trump politics to die on I really hope you have a sense of what disproving that prior looks like and what you'd have to reassess if it ends up being
Reposted by Khazbi Budunov
Learn more about the comparison of income inequality in the Roman and Chinese Han empires in Chartbook Top Link. Visit the link in the comment!
April 17, 2025 at 9:43 PM
Learn more about the comparison of income inequality in the Roman and Chinese Han empires in Chartbook Top Link. Visit the link in the comment!
The Russian economy is in superposition: GDP is set to grow 3.1% in 2025, but signs of stagnation are mounting — credit and investment are slowing, retail is weakening. Growth is propped up by government spending, construction, and a tight labor market.
April 17, 2025 at 9:48 PM
The Russian economy is in superposition: GDP is set to grow 3.1% in 2025, but signs of stagnation are mounting — credit and investment are slowing, retail is weakening. Growth is propped up by government spending, construction, and a tight labor market.
Trump made mainstream economists remember macroeconomic identities.
April 4, 2025 at 5:15 PM
Trump made mainstream economists remember macroeconomic identities.
- "Sir, trade balance over imports does not make any sense"
- "Let's throw in some Greek letters like nerdy scientists would do!"
- "Ok, that'll do"
- "Let's throw in some Greek letters like nerdy scientists would do!"
- "Ok, that'll do"
April 3, 2025 at 5:26 PM
- "Sir, trade balance over imports does not make any sense"
- "Let's throw in some Greek letters like nerdy scientists would do!"
- "Ok, that'll do"
- "Let's throw in some Greek letters like nerdy scientists would do!"
- "Ok, that'll do"
Reposted by Khazbi Budunov
Nothing would own me, a Liberal-adjacent Canadian, more than if Elon Musk devoted himself full time to supporting the Federal Conservatives in the upcoming election, particularly in eastern Canada.
(OK, I want to see how close Pierre can get to matching poor old Kim Campbell’s election result.)
(OK, I want to see how close Pierre can get to matching poor old Kim Campbell’s election result.)
Nothing would own me, a lib, more than if Elon Musk devoted himself *full time* between now and election day 2026 to campaigning in contested house and senate races.
April 2, 2025 at 4:17 AM
Nothing would own me, a Liberal-adjacent Canadian, more than if Elon Musk devoted himself full time to supporting the Federal Conservatives in the upcoming election, particularly in eastern Canada.
(OK, I want to see how close Pierre can get to matching poor old Kim Campbell’s election result.)
(OK, I want to see how close Pierre can get to matching poor old Kim Campbell’s election result.)