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The Dollar Is Dead

mathmeetsmoney.substack.com

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Re: The Dollar Is Dead

#361

Post by bigbadfeline »

hollerith wrote: post #352
bigbadfeline wrote: post #351

Earlier quoted context omitted.

They get 2.5% of wealth which is a better estimate of real earnings. The data is for Q3 2024.

I disagree that wealth is a better measure to use here. As programmers should know better than anyone, most of the wealth in the world is in the form of people and their capacity to work on teams that solve practical problems, but the wealth stats you want to use dont even try to estimate that form of wealth.

In economics terms, wealth is a measure of capacity to save, taxes come from that capacity too, so I use it as a better estimate of how much a particular demographics can contribute to taxes.

I think that's fair in the context of this thread, given the present distribution realities, the bottom 50% can't contribute to tax revenue. Conversely and a bit more subtle, the top 50% ability to save doesn't seem to be impaired by their >97% contribution to revenue.

> As programmers should know better than anyone, most of the wealth in the world is in the form of people and their capacity to work on teams that solve practical problems

I'm looking at this as a practical matter, I'm far from moralism and moral philosophy so I can't really relate to your argument above.

Re: The Dollar Is Dead

#362

Post by UltraSane »

readthenotes1 wrote: post #360
myvoiceismypass wrote: post #295

Earlier quoted context omitted.

Trump's debate performance against Kamala was awful too ("concepts of a plan", etc), but he will forever get judged with a different set of criteria by his fans.

Whataboutism is pervasive and pernicious

Biden is smart and senile. Trump is stupid and senile and that is worse.

Re: The Dollar Is Dead

#363

Post by KaiserPro »

declan_roberts wrote: post #94
KaiserPro wrote: post #67

Earlier quoted context omitted.

> idea that a basket of foreign currencies or "BRIC+" will replace the dollar is absolutely not going to happen No it'll be renminbi, with the euro, if they are lucky as a distant second place.

China simply cannot exist without the USA and unlike Russia they have no real natural resources to back up their currency.

I'm sorry but that is utter utter bullshit.

China is an exporting and manufacturing powerhouse. Something that is only accelerating. Don't get me wrong, china has a whole bunch of issues. but currently political instability kneecaping economic growth is not one of them.

Also China knows that unemployment means the end of their control. So they will do anything and everything to keep people gainfully employed. the USA less so, and we'll see if that works out for them.

Russia has a tiny economy based on war and oil.

Re: The Dollar Is Dead

#364

Post by etempleton »

machiaweliczny wrote: post #272
etempleton wrote: post #180

Earlier quoted context omitted.

I think the limited actions in Iran are not at all comparable to the commitment and risks involved in directly defending Taiwan from invasion or naval / aerial blockade. With that said, I do think that the US is likely to intervene in some capacity regardless of admin, but slightly less so with the current admin.

I am pretty sure the US is investing hard into naval drones. There's a reason Russia cannot use it's naval fleet in Ukraine as cheap torpedos and drones destroy ships.

Ships are basically sitting ducks if they are within range of drones. I am surprised better anti drone weaponry hasn’t been deployed. I would think bird shot cannons would be highly effective.

Re: The Dollar Is Dead

#366

Post by childintime »

Luker88 wrote: post #116

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…

ok, Africa it is.

Re: The Dollar Is Dead

#367

Post by linksnapzz »

vannevar wrote: post #357
linksnapzz wrote: post #356

Earlier quoted context omitted.

Europe also consistently hasn't paid for its own defense in eighty years.

They spend less than the US as a percentage of GDP, yes, but they don't spend zero: 2.5% or so vs our 4%. But who's to say they aren't right and we're wrong? Think about the cost of the Iraq and Afghan wars. Good investments?

Not allowing the Soviets to annex western europe in the 1960s. Good Investment?
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