Money printing isn't true:That was quite possibly the worst journalism I've ever read.
Fact check: Federal Reserve has balance sheet of $9 trillion
Tesla's stock has dropped pretty substantially following the Twitter deal.
Tesla, Twitter shares drop as Elon Musk's legal issues grow - ABC News
Of course when I say "printed" I'm talking about the balance sheet and not literally printed dollars. And this line was the most hilarious:
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The Federal Reserve does have a balance sheet of $9 trillion, but it hasn't added $8 trillion anytime recently.The link in her source linked to the wrong part of the fed's website. Here's the data charted:
https://fred.stlouisfed.org/series/WALCL. (Notice the massive spike since the pandemic lockdown)
the fed has been actively quantitative easing since the start of the pandemic and just starting quantitative tapering. It took me a long time to get my head around all of the jargon and nuance but to say the fed has been "printing" money is accurate enough.
for the article to even suggest the fed hasn't added to the balance sheet recently is the most financially illiterate journalism though. I've been watching ever jpow address to the nation recently and changes to the balance sheet is literally all that is being talked about…
With respect to the twitter deal,.. it had little to do with it. Go look at apple or ms or google stock prices aligned,.. they all dropped in unison with Tesla. This is a market wide selloff right now driven by the fed.
