# The Macro Model You are Using is Probably Broken

Page: https://stenobird.com/podcast/less-noise-more-signal-7015424/the-macro-model-you-are-using-is-probably-broken
Text version: https://stenobird.com/podcast/less-noise-more-signal-7015424/the-macro-model-you-are-using-is-probably-broken.md
Podcast: [Less Noise, More Signal](https://stenobird.com/podcast/less-noise-more-signal-7015424)
Published: 2026-04-02T16:00:00+00:00
Episode link: https://feeds.fountain.fm/Tkp8ve9N2p86ZGOVfvrw/items/1dxtd6rlvK34BKhMcMcq/files/AUDIO---DEFAULT---2a728c07-185c-4296-b596-c48699e364c5.mp3
Audio file: https://feeds.fountain.fm/Tkp8ve9N2p86ZGOVfvrw/items/1dxtd6rlvK34BKhMcMcq/files/AUDIO---DEFAULT---2a728c07-185c-4296-b596-c48699e364c5.mp3
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JSON: https://stenobird.com/v1/public/podcasts/less-noise-more-signal-7015424/episodes/the-macro-model-you-are-using-is-probably-broken
Duration seconds: 4898

## Resource

▬▬▬ DISCUSSION ▬▬▬▬▬▬▬▬▬▬ 💬Join the discussion on Telegram: https://t.me/+OgDv1Djbvs80M2Fk ▬▬▬ EPISODE ▬▬▬▬▬▬▬▬▬▬ In this episode, dive into a comprehensive discussion on modern monetary theory, macroeconomic modeling, and how fiscal flows influence markets and assets like Bitcoin with Douglas Padgett -- a macro researcher and founder of Applied MMT. He shares his insights on government spending, private credit cycles, and the importance of flow analysis for market forecasting. Follow Douglas Padgett 👉 https://x.com/MMTmacrotrader ▬▬▬ SUPPORT ▬▬▬▬▬▬▬▬▬▬ ⚡️LNMS on Lightning: lnms@ln.mtpelerin.com ₿ BTC-Address: bc1qmk7gfdnrdegnmnrtnacj6rslan0y6v29kdlf9p 💵https://buy.stripe.com/9B600k5Tscv33Ue4zRdby00 Twint: https://go.twint.ch/1/e/tw?tw=acq.Z7L1opJwS72nbGgEMY4w3ILkf67JAEyEFmXrtoKoUbONWSsjLDDQIhNx5ReanPy7. ▬▬▬ LINKS ▬▬▬▬▬▬▬▬▬▬ 📰 LNMS Newsletter: https://lessnoisemoresignal.substack.com/ 🎧 LNMS on Apple: https://tinyurl.com/4apksnyn 🎧 LNMS on Spotify: https://tinyurl.com/ttha8kku 🎧 LNMS on Rumble: https://tinyurl.com/4k96c7tw 🎧 LNMS on Fountain: https://tinyurl.com/5dsbbj5p 🌐 LNMS Website: https://www.lessnoise-moresignal.com/ 📖 Bitcoin Book: https://www.amazon.de/dp/1967693013 🎧 LNMS on YouTube: https://tinyurl.com/4jfhr4zn ▬▬▬ SOCIALS ▬▬▬▬▬▬▬▬▬▬ Follow on X👉 https://x.com/pahueg Follow on Nostr 👉 https://primal.net/pascal Follow on LinkedIn 👉 https://www.linkedin.com/in/pascal-huegli/ ▬▬▬ CHAPTERS ▬▬▬▬▬▬▬▬▬▬ 00:00 Intro 01:32 Why traditional textbooks overlook the real macro regime post-1970s 02:02 Douglas's background: Austrian roots and transition to MMT-based macro analysis 04:18 Core ideas of Modern Monetary Theory and government’s role in creating financial assets 12:39 Defining applied MMT: profits, profits sources, and the profit cycle 15:17 How government spendi…

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## Transcript

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