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The USC QB, who's the overwhelming favorite to go No. Here's what it means for him, and perhaps the NFL Draft cycle. Which team will land Drake Maye? With the final weeks of the NHL season here, every move is important.

Any of these skaters could contribute to your late-season fantasy run. Rublev will lose out on prize money and ranking points earned by reaching the semifinals. Check out where our fantasy baseball analysts have the top first basemen ranked going into the season.

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Be sure to comply with laws applicable where you reside. But even more importantly, a massive bank failure means that bank lending will also crash. If there are no banks, there are no banks to make loans! And bank loans, as we all know from Econ , create money. Fewer loans means fewer new dollars.

And when dollars become more scarce, the value of dollars goes up. That is called deflation. But in fairness to Balaji here, there is a way that bank weakness could lead to greater inflation. The scenario, which I outlined in a post last week , starts with the fact that in order to prevent bank failures, the Fed is loaning money to banks.

This pumps more money into the economy, which partially cancels out the effect of interest rate hikes which take money out of the economy. In other words, those emergency loans represent a form of monetary easing.

A rise in inflation expectations could cause more inflation to become a reality — a self-fulfilling prophecy. Update: Balaji does seem to have this scenario in mind. I should say, though, that this scenario is incredibly unlikely.

Hyperinflation is so incredibly destructive for an economy that the Fed would probably let massive numbers of banks fail thus causing deflation rather than allow hyperinflation to get started.

So far, the amount of money the Fed has had to pump into the banking system has not been particularly huge. Note that inflation expectations have fallen quite a bit since the run on Silicon Valley Bank.

Bond traders, unlike Bitcoin enthusiasts, understand that bank failures cause deflation, not inflation. Balaji may have successfully predicted the coronavirus pandemic , but this time, his crystal ball has led him awry.

Throwing money away to draw attention to a bet on Bitcoin, and then losing the bet, does not seem like it would be a good way of creating popular enthusiasm for Bitcoin. But anyway, what do I know? The vagaries of financial sentiment are mysterious.

So in the end, everyone wins from this bet. Including you, the readers, who get a chance to be entertained by some Twitter drama.

And including me, because I get a chance to explain some macroeconomics. I kind of wish Balaji had made the bet with me instead, though. I would have given all the money to rabbit rescues, as I do with the proceeds of every bet I win. The buried lede here is that Medlock is already loaded?

No hating, just appreciating. Share this post. In which Balaji gives away at least a million dollars www. Copy link. In which Balaji gives away at least a million dollars Also, the dollar is not going to collapse.

Noah Smith. Mar 19, James Medlock jdcmedlock. Balaji balajis. I will take that bet. You buy 1 BTC. The USC QB, who's the overwhelming favorite to go No.

Here's what it means for him, and perhaps the NFL Draft cycle. Which team will land Drake Maye? With the final weeks of the NHL season here, every move is important.

Any of these skaters could contribute to your late-season fantasy run. Rublev will lose out on prize money and ranking points earned by reaching the semifinals.

Check out where our fantasy baseball analysts have the top first basemen ranked going into the season.

Read full article. Nick Bromberg. Thu, Feb 29, , AM · 2 min read. Link Copied. Jim "Mattress Mack" McIngvale stands to win big if Houston wins the men's NCAA tournament.