Joe Weisenthal: "Imagine the level of privilege that is thinking you're entitled to a positive real rate of return without taking any risk. In all seriousness, it's interesting that a lot of hard money types who rail against socialism also think that 'savers' (people who have accumulated capital over time) deserve free money for just holding their money in a bank. Something else that's interesting to me is that virtually 100% of the people who blast low Fed rates for causing inequality are themselves from the upper echelons of society...

Matt Busigin: "The extent to which your 2019 twitter feed looks like my 2011/2012 twitter feed is almost spooky (link: https://twitter.com/mbusigin/status/220273621254418432)...

Joe Weisenthal: "If I'm just 7 years behind you, then that's pretty good...

Matthew C. Klein: Positive real rates make a lot more sense if you think of them as compensation for forgoing consumption during periods when resource scarcity limit overall spending—just not the world we live in now...

Greg Ip: "A lot of non-wealthy, non-hard money types, many retired, are upset they can't get a real return on T-Bills and bank deposits like they could for most of recorded history. I'm not saying they're right, but they're not speaking from privilege or hypocrisy...

Brad DeLong: They got their interest when bond prices exploded upwards. They may not be speaking from privilege or hypocrisy, but they are ignorant, thoughtless, and easily-grifted morons...

Matthew C. Klein: "Depends on their duration...

Brad DeLong All right. Then they missed out on their interest because they let Fox News grift them into buying overpriced gold funds & gold bullion. Their foul. Not our tent, not our circus, not our clowns, not our monkeys, not our problem...

Jacob Robbins: "True. About half of treasury returns post-2000 are from capital gains, 25% post-1980. Compare this with pre-1980, where inflation wiped out coupon yields and rising interest rates led to capital losses on bonds...


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