61/ Based on this is it possible that Norway is actually doing MMT? Sort of? But instead of “printing money” they are covering a planned deficit with the earnings from its petroleum export?
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Patricia Aas (patricia@social.vivaldi.net)'s status on Thursday, 04-Jul-2024 06:11:03 JST Patricia Aas
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Patricia Aas (patricia@social.vivaldi.net)'s status on Thursday, 04-Jul-2024 06:11:02 JST Patricia Aas
63/ What is absolutely hilarious is that the effect he describes on the housing market is actually not happening. But this is yet another time the terrain is wrong for not fitting their map.
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Patricia Aas (patricia@social.vivaldi.net)'s status on Thursday, 04-Jul-2024 06:11:02 JST Patricia Aas
64/ Real estate prices are up 8% this year, that’s bananas. But I guess it’s like the gold, people are investing in their homes, and maybe also the fact that it is a closed loop system. So until people start defaulting on their loans, the real estate market won’t feel it.
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Patricia Aas (patricia@social.vivaldi.net)'s status on Thursday, 04-Jul-2024 06:11:03 JST Patricia Aas
62/ I feel so smart when I read news articles that agree with me 🤓 🤣
“And an interest rate increase will not help, he believes. - The higher the interest rate goes, the more landlords have to raise the rent, and then the interest rate increase is inflationary. It does not have the same effect as in the housing market, where prices fall if interest rates rise. The interest rate is not a good weapon to deal with this kind of inflation. It makes matters worse, he says.”
https://e24.no/norsk-oekonomi/i/93zl4d/uenige-om-leieprisene-det-gjoer-vondt-verre
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