Nik Bhatia keeps saying that creating new money increases productivity. I tolerated this nonsensical statement many times from Nik over the last year or so because I liked the rest of the content, but today was the last time. The podcast was enjoyable for a time, learned a ton about bond markets and still recommend it to people who want to learn about them, but now I’m out. I wish him well and hope he sheds his remaining Keynesianism.