Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
Related: About this forum28-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 Tankuss newsletter, Notes on the Crises, arent bothered by his lack of diplomas.
Nathan Tankus, 28, hasnt finished his bachelors degree at New York Citys 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. Hes also followed on Twitter by journalists, economic think-tankers, and Wall Street economists.
Tankus built an online following slowly since around 2015, but its only in the past year that hes 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 Feds 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.
He has really good knowledge of the plumbing of the monetary system, says David Beckworth, a senior research fellow at the Mercatus Center of George Mason University.
Tankuss 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 jourwhatever that may becan have more impact than a peer-reviewed article in the Quarterly Journal of Economics, say, or the American Economic Review.
Tankus built an online following slowly since around 2015, but its only in the past year that hes 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 Feds 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.
He has really good knowledge of the plumbing of the monetary system, says David Beckworth, a senior research fellow at the Mercatus Center of George Mason University.
Tankuss 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 jourwhatever that may becan 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
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
5 replies, 2339 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (20)
ReplyReply to this post
5 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
28-Year-Old With No Degree Becomes a Must-Read on the Economy (Bloomberg) (Original Post)
Mike 03
Jul 2020
OP
soothsayer
(38,601 posts)1. What a cool kid
safeinOhio
(32,531 posts)2. Economics is a soft science...
very soft.
Way to many variables to make predictions.
Quemado
(1,262 posts)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.
Hoyt
(54,770 posts)5. Gotta agree. Although, if he really has a thorough understanding of monetary system, I'm impressed.
Beakybird
(3,329 posts)4. Psychology has even more variables, yet it makes many accurate predictions.