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Mon Jul 6, 2020, 08:06 AM

28-Year-Old With No Degree Becomes a Must-Read on the Economy (Bloomberg)

July 2, 2020, 2:00 AM MST
Peter Coy
Bloomberg Businessweek


Subscribers to Nathan Tankusís newsletter, Notes on the Crises, arenít bothered by his lack of diplomas.

Nathan Tankus, 28, hasnít finished his bachelorís degree at New York Cityís John Jay College of Criminal Justice. He has, however, mastered enough knowledge of economics and finance to become a widely followed commentator on the Federal Reserve. A newsletter he launched this year has followers at the Fed, the Securities and Exchange Commission, the Office of the Comptroller of the Currency, and the Department of the Treasury. Heís also followed on Twitter by journalists, economic think-tankers, and Wall Street economists.

Tankus built an online following slowly since around 2015, but itís only in the past year that heís broadened his audience with deep dives into monetary mechanics. In September he diagnosed the dislocations in the secured lending market that forced the Fed to resume buying Treasury bonds on a massive scale. This year he wrote a series of detailed posts called Notes on the Crises, which explained the Fedís emergency actions to combat the Covid-19 recession. He made extensive use of T-accounts, a tool of accountants that places assets on the left and liabilities on the right.

ďHe has really good knowledge of the plumbing of the monetary system,Ē says David Beckworth, a senior research fellow at the Mercatus Center of George Mason University.

Tankusís diploma-free rise is interesting in part for what it says about the economic and finance debates taking place on the internet. Establishment credentials matter there less than ever. Tankus has taken full advantage of the lack of gatekeepers on the web, where a sharp and quickly delivered argument on the topic du jourówhatever that may beócan have more impact than a peer-reviewed article in the Quarterly Journal of Economics, say, or the American Economic Review.


Read more: https://www.bloomberg.com/news/articles/2020-07-02/nathan-tankus-s-newsletter-subscribers-don-t-care-about-diplomas

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Reply 28-Year-Old With No Degree Becomes a Must-Read on the Economy (Bloomberg) (Original post)
Mike 03 Jul 6 OP
soothsayer Jul 6 #1
safeinOhio Jul 6 #2
Quemado Jul 6 #3
Hoyt Jul 6 #5
Beakybird Jul 6 #4

Response to Mike 03 (Original post)

Mon Jul 6, 2020, 08:19 AM

1. What a cool kid

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Response to Mike 03 (Original post)

Mon Jul 6, 2020, 08:32 AM

2. Economics is a soft science...

very soft.

Way to many variables to make predictions.

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Response to Mike 03 (Original post)

Mon Jul 6, 2020, 09:23 AM

3. The writer may be impressed, but I am not.

"He made extensive use of T-accounts, a tool of accountants that places assets on the left and liabilities on the right."

T-accounts is Accounting 101. I'm sorry, but as a CPA, I am underwhelmed that the writer of this article is impressed by the use of T-accounts.

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Response to Quemado (Reply #3)

Mon Jul 6, 2020, 11:00 AM

5. Gotta agree. Although, if he really has a thorough understanding of monetary system, I'm impressed.

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Response to Mike 03 (Original post)

Mon Jul 6, 2020, 09:24 AM

4. Psychology has even more variables, yet it makes many accurate predictions.

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