Joseph Wang(@josephwang):It's not accurate to think of financial assets as competing for a pool of "savings." Savings is a real economy concept denoting goods/services produced and not consumed. Financial assets require financing, and that can be created out of thin air by commercial banks or the Fed.

Joseph Wang

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Joseph Wang@josephwang

2026.08.20 16:23

It's not accurate to think of financial assets as competing for a pool of "savings." Savings is a real economy concept denoting goods/services produced and not consumed. Financial assets require financing, and that can be created out of thin air by commercial banks or the Fed.

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