311–320 of 367 posts
I don't buy the dollar being dead. His main arguments are the politics are messy and there's a lot of debt. Such things have been true in the past over its 200 year plus history and yet it goes on. The US remains the world superpower and the center for its most valuable companies and the leader in new tech like AI. Things will go on. The British Pound has existed since about the year 600, we had 250% debt to GDP afte…
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He also published animated video versions: 45min https://youtu.be/xguam0TKMw8 5min https://youtu.be/BB2r_eOjsPw
So this guy just takes the time and money (I guess that part doesn’t hurt if you’ve got 15 billion) to write a book and produce an excellent video version for a broader audience, just for … what exactly? According to his Wikipedia his employees are forced to agree to continuous recordings, the NYT claims he does some sort of (i assume perfectly legal) insider trading and just acts like he’s got the perfect system in…
Gain influence, increase his marketing & exposure, creating new opportunities for himself. Good chance he also believes what he is preaching. All these things can be true at the same time.
He gives away a lot of the info in the book for free, so you can consider the book as just a method of marketing his ideas.
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There is no "overspending." There is only undertaxing. The debt is literally just the accumulated difference between spending and taxation. If extreme wealth was taxed, the debt would be zero. The point isn't even to "pay for spending" but to enforce a functional social contract, and to limit the political and democratic distortions created by extreme inequality. "Markets" should not have a veto on policy in a democr…
>>There is no "overspending." There is only undertaxing. This is quite the take. Do you run your household as “there is no ‘overspending.’ There is only under-earning.”
This article is initially very well written and convincing. And it started to stress me out a little bit! Am I at great risk for having most of my wealth tied to the dollar? But taking a step back: It is making very strong predictions for a future state of what I would consider a chaotic system. As the author identifies as a Physicist and not a Psychic, why is there no mention of uncertainty? No mention of how you wo…
> Am I at great risk for having most of my wealth tied to the dollar? You are guaranteed to fail, no question. The dollar is a corrupted unit of value that is meant to pump assets and exert global control. Look at any dollar buying power chart to see what your future looks like - a never ending chart down.
I am reading the book from Ray Dalio, "Principles for Dealing with the Changing World Order". This article seems a little reductive in its analysis, but this is actually a huge topic. I have not finished the book yet, I don't claim to understand all its implications, but I really like it because it analyzes many empires over the centuries, and tries to track multiple determinants for all of them (also a lot of pretty…
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There is no "overspending." There is only undertaxing. The debt is literally just the accumulated difference between spending and taxation. If extreme wealth was taxed, the debt would be zero. The point isn't even to "pay for spending" but to enforce a functional social contract, and to limit the political and democratic distortions created by extreme inequality. "Markets" should not have a veto on policy in a democr…
Europe has repeatedly tried to soak the rich, and the results are always the same: the rich move their wealth somewhere else and you end up breaking even or even reducing your tax revenue. France: https://www.theguardian.com/world/2014/dec/31/france-drops-7... UK: https://obr.uk/box/effect-of-the-additional-rate-of-income-t... Sweden: https://eml.berkeley.edu/~saez/course/seimAEJ17wealth.pdf It's interesting to note…
Yes, the results are always the same: Europe consistently runs lower budget deficits, yet provides greater benefits to their citizens. How awful for them.
https://www.cato.org/blog/spending-debt-oecd
https://oecdstatistics.blog/2023/02/02/sizing-up-welfare-sta...
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Even if that is true, the US's proven record does not include the current administration.
It excludes the current administration, the separation of powers goes a long ways here to help insure things are not overly influenced by internal politics. Worst case is you stall until things change, which is not much of an issue when dealing with the amounts of money that matter in these cases.
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Explain to me the benefit of attracting the wealthy if they don't pay tax? Come to our country - have our police and courts and soldiers protect you wealth - all for free. Oh - and because you are not paying tax - can I borrow some of that wealth please so I can pay for the stuff I'm providing for you free - I'll give you a healthy return. The rich benefit the most from civilisation - and it costs - you can't just ke…
Look at Singapore to understand the benefits of attracting wealth.