Sri Lanka is the first of possibly many countries to fall or suffer serious consequences in the next year or two. Inflation, coupled with a rally in the strength of the US Dollar, is going to push many smaller nations into resource shortages and ultimately towards revolution. Even many of the major world currencies are doing poorly. The Euro is tanking(back to parity with the dollar, for now, but it may go lower). Th…
What events make you conclude industry in EU will grind? Is it gas scarcity or is there something else?
Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
351–360 of 386 posts
Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#352Earlier quoted context omitted.
'bad government must be authoritarian' meme is interesting to observe, as if it is impossible for bad governance to occur in democratic systems. Sri Lanka clearly is a democracy, albeit a degenerate one
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Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#353Earlier quoted context omitted.
Nitrogen can come from the air by using nitrogen fixing crops in a rotation, so it can never run out (N2 is the most abundant gas on the atmosphere). The problem is that growing nitrogen fixers take a lot of land time that could otherwise be growing crops. Also not as nitrogen rich as fossil fertilizers (gas N2 is quite stable, difficult to fixers to extract in high quantities). I know nothing about P and K though.
P is mainly manure I believe. It is residual in rocks but I don't know if plants can use that. Ash is a good source for K if there are no other K-rich fermented dead plants available. You get a lot of both from coffee grounds so someone might have to drink a lot of coffee.
Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#354Earlier quoted context omitted.
> The US is actually lucky to understand this at the deepest levels of policy and law making, with massive aid packages to prevent total collapse. The current inflation crisis suggests that even the US economy can reach its limit with endless money printing and stimulus. With the cost of borrowing going up, the executive and congress are going to start feeling pressure to cut spending or dramatically raise taxes.
The current spike in inflation is a world-wide phenomena, effecting every country on Earth, and therefore it seems unlikely to have much to do with the USA's creation of new money. The USA printed trillions of dollars of new money after 2008 and yet inflation remained very low for the next decade. If, now, the USA's printing of money is having some new effect, you have to explain why Argentina, South Africa, India, V…
Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#355The drastic move to organic farming is puzzling. Any level headed person , forget a politician , would want to experiment first, see the results, gauge and then expand selectively. That is common sense . I guess when you are a dictator ish government and you rule the country with an iron first, the institutions of the state stop being anything and simply become rubber stamps. This also underlines the importance of se…
This is a common feature of dictatorships: a boneheaded decision from a central government wreaks havoc on the people in the field that would know better. It reminds me of Mao ordering all sparrows be killed because they eat agriculture seeds. This of course caused a much bigger crisis with insects destroying crops - because everyone knows sparrows also eat lots of insects.
Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#356I have a hard time believing in such a gross mistake.
Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#357https://web.archive.org/web/20190122012624/https://www.wefor...
Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#358Earlier quoted context omitted.
That’s when it goes bad, but borrowing against the future to kickstart today is also the principal behind innumerable success stories.
May I humbly ask for an example? In my personal experience, trying to rush a short-term solution while ignoring the long-term implications always makes situation worse. Like eating planting stock to address immediate hunger would cause a devastating famine next season.
Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#359Earlier quoted context omitted.
Water treatment plants let quite a lot of biological contamination through... If you use that to water crops that people eat, you get quite a nice disease spreading loop... Specifically, no water treatment process today tests for viruses in treated water, and there are plenty of viruses that can survive sitting in a bubble tank for a few hours.. Boiling the water for 10 minutes first would satisfy me that very little…
The water isn't being put on soil for crops. The digested sludge is what is used. It is being done already and there are processes in place. https://www.epa.gov/biosolids/basic-information-about-biosol...
In the USA, food poisoning rates are far higher than Europe, and part of that is probably the biosludge...
Re: Sri Lanka is having a textbook currency crisis, triggered by policy mistakes
#360Earlier quoted context omitted.
In Rome there were two periods when the title of Dictator was used. First during the Republic where it indeed was a temporary role with limitations, then resurrected during the Empire as title only to justify authoritarianism.
You’re not right. What Rome called a dictator is not the modern definition of the term. An elected autocrat can have similarities to a dictator, but they aren’t one. Unless they rig the elections!
The Roman title of Dictator is different from a modern day dictator, agreed — but if you read carefully no-one argued otherwise. The Roman title of Dictator more aligns with the modern concept of "emergency powers."