Wow, fantastic analysis with enough ‘inconvenient truths’ to cause most people to ignore the hard message of where the USA stands in the world and some things we can try to sustain our economy and productivity. Are George's suggestions all practical? Sadly no, but I think it is generally good to have strong goals, and then achieve what we can.
The Demoralization is just Beginning
491–500 of 812 posts
Re: The Demoralization is just Beginning
#492Going back to a gold standard will limit the money supply. This means that there will be less capital for building $thing. A gold standard means that when the economy gets overheated it pops, then contracts and you get deflation. This makes crashes last longer and harder. It requires greater fiscal discipline to overcome. The problem with the USA "empire" is that for a trading empire to work you need a plan, and stic…
> Going back to a gold standard will limit the money supply. This means that there will be less capital for building $thing.
That's precisely the solution. The current state of the hollowed-out US economy is because of the zirp enabling a hollowed-out financialized economy riding on bloated stock prices and valuations. That is where that 'capital' came from. And like in every case of printing money, the bill eventually came due.
> A gold standard means that when the economy gets overheated it pops, then contracts and you get deflation
That can be fixed with other measures and regulations than enabling a scammy free cash economy that causes only hollowed-out bloat.
Re: The Demoralization is just Beginning
#493Earlier quoted context omitted.
China has major structural weaknesses in its economy that are currently overshadowed by the US cr*pping its own and its allies’ pants. Specifically: there is not much of a home grown consumer economy; they have driven growth too heavily on exports and infrastructure build, leading to a massive overhang in building, a housing bubble that is teetering dangerously close to unwinding, and a major shortage of domestic con…
China is collapsing!
Its even funny, since 2005 the major economists are calling for a major collapse in the Chinese economy, but it never happens as they hope...
Re: The Demoralization is just Beginning
#494> The main product made by the US is the dollar, and it used those manufactured dollars to outsource everything. Most jobs in the US are now basically fake These two hot takes at the top of the essay really undermines everything else the author might say in the article and brings into question how serious and critical their thinking is. Several comments here against the article talk about the Chinese economy problems…
> These two hot takes at the top of the essay really undermines everything else the author might say in the article and brings into question how serious and critical their thinking is.
Does it though... If anything, the numbers prove him right:
> Several comments here against the article talk about the Chinese economy problems and this article in this morning’s BBC is a pretty good summary of the dynamics and the problems
They have been predicting 'a hard landing' for the Chinese economy every year for 15 years now. What the economic press publishes in Angloamerican countries about China is just external lobbying to scare China into opening up its market to financial speculation. Without any success. Naturally so, as everyone saw what it led to in the West in 2008.
Re: The Demoralization is just Beginning
#495The big mistake of this kind of analysis is to assume that it depends only on the desires of the US. But other countries have agency too, they can also decide to be first class economies. The current status of China is due to its focus on achieving greatness. There's not much that the US could or can do to derail China from its achievements. Let's stop trying to block other countries and step up to work harder.
> But other countries have agency too, they can also decide to be first class economies. An interesting thing is that they likely cannot, outside of some exceptional circumstances--which might include the current clownish situation. Lots of countries would like to be among leading economies. But they don't have enough capital, cannot get it on really favorable terms, don't have the know-how, cannot have effective pro…
Well, if countries follow the schemes proposed by the G7 they certainly have no space to become great economies. That's the whole purpose of the IMF, the World Bank, etc, to keep countries a small cog in the G7 economy. That's why China is seen as a "threat".
Re: The Demoralization is just Beginning
#496This started out interesting but then the red flags started to pop up. Going to jail in Europe for posting memes, gold standard, salivating over doing something that benefits the US and hurts countries that are already poorer than the US. He has strong opinions on economics, but doesn't understand it. His points about economics are partially true but either subtly incorrect or interpreted incorrectly.
“When I said on Lex”
Re: The Demoralization is just Beginning
#497Earlier quoted context omitted.
They are reliant on it. The US is still the currency used for trade. The world economy is tied to the dollar and outside of countries we've sanctioned no country has made large steps towards using something else because using something else would be more complicated and would cost them money
> They are reliant on it. The US is still the currency used for trade. The world economy is tied to the dollar and outside of countries we've sanctioned no country has made large steps towards using something else because using something else would be more complicated and would cost them money What happens when you "sanction" a significant portion of the world because they don't share your "values" or want to play ba…
What sanctions are you referring to?
Re: The Demoralization is just Beginning
#498Earlier quoted context omitted.
is there any reliable source for that "going to jail in europe for posting memes"? I keep seeing this argument in online arguments, but can not find a credible source
It’s true for Germany. There recently was a case of a podcaster whose acquaintances were tapped and was apprehended while walking with his 1yo for posting memes. An AfD politician was fined 6000€ for posting crime statistics. A man had his house searched for sharing a meme of calling a politician something along the lines of „idiot“. There’s also the 60 minutes interview where prosecutors brag about confiscating devi…
> An AfD politician was fined 6000€ for posting crime statistics.
No, she was not fined for posting crime statistics [0].
> Kaiser published a tile on her social media accounts with the text "Afghanistan refugees; Hamburg SPD mayor for 'unbureaucratic' admission; Welcome culture for gang rapes?"
[0] https://en.wikipedia.org/wiki/Marie-Th%C3%A9r%C3%A8se_Kaiser...
Re: The Demoralization is just Beginning
#499Earlier quoted context omitted.
is there any reliable source for that "going to jail in europe for posting memes"? I keep seeing this argument in online arguments, but can not find a credible source
While not an answer to your specific question, this popped into my head as being similar in tone to what I think you're asking about. https://reason.com/2024/10/17/british-man-convicted-of-crimi... (An example of something that might be perceived by some as a judicial over-reaction based on perceived offensiveness to others.)
From what I understand the Public Spaces Protection Order is a law that exists exactly for this reason, how would this be a judicial overreaction?
Seems similar to the German law that makes it illegal to wear politcal symbols or talk politics outside of polling places. There is an undefined "buffer zone" outside of the voting location where, if you display political symbols, you will be arrested. This is a limitation of freedom of expression, but IMHO it makes total sense.