Atlanta Fed President: We Should Have A Discussion About Guaranteed Basic Income


“The guaranteed basic income discussion is an important one. I think that conversation is one we should continue to have and think about.”

What’s universal basic income, you ask? Think helicopter money and magic money tree, on steroids.

Miami Branch - Federal Reserve Bank of Atlanta

And with that all discussions about rate hikes, “taperings”, or anything else for that matter is moot, because the only way the conversation about guaranteed basic income – where the Treasury sells unlimited amounts of debt to “fund” UBI, debt which is purchased by the Fed – makes any sense is if the Fed ensures that rates can never again rise. Which is why all those traders panicking about rising yields, or CTAs who are now shorting 10Y yields, and as the following chart from Goldman confirms, they are – just as we said they would once yields rose above 1.10%…]

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  1. “And if ever, by some unlucky chance, anything unpleasant should somehow happen, why, there’s always soma to give you a holiday from the facts. And there’s always soma to calm your anger, to reconcile you to your enemies, to make you patient and long-suffering. In the past you could only accomplish these things by making a great effort and after years of hard moral training. Now, you swallow two or three half-gramme tablets, and there you are. Anybody can be virtuous now. You can carry at least half your morality about in a bottle. Christianity without tears—that’s what soma is.”
    ~Brave New World


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