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https://www.textise.net/showText.aspx?strURL=https%253A%2F%2...
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"other countries unpeg from the dollar.." I don't know what that means. In the current international arrangements all the important currencies are floating against each other all the time. The value of the dollar (respect other currencies) comes from being the currency of one of the most valuable economies in the world.
I think you severely underestimate the power of positive feedback. Some economists argue that around of third of US GDP can be attributed to the unique position of the dollar. If for some reason foreign investors and governments will lose their faith in dollar (even today gov. bonds already have negative inflation-adjusted profits, imagine if inflation will be 10%-20%), then they will start to dump bonds and assets n…
What? Certainly that can't be true.
This thing with nailing boards to the office front is alienating me. What's underlying this strange behavior? Is the general expectation of damage being done to uninhibited buildings really reasonable?
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>Somewhere between the 1970s and 2000s I think you'll find it was precisely 1971.
https://wtfhappenedin1971.com/
This thing with nailing boards to the office front is alienating me. What's underlying this strange behavior? Is the general expectation of damage being done to uninhibited buildings really reasonable?
Heads up: this page has 200MB of resources.
Earlier quoted context omitted.
I did mention pushing savers into real estate and other assets. Lots of people are flipping houses simply because thay cannot get decent returns on bank savings anymore. Same goes for professional money managers of all kinds who simply cannot provide decent returns to their customers by buying bonds like old school. So they are forced to chase yields in other risky assets. Also with bank savings everyone has an equal…
Why are people entitled to a positive return on capital, a particular form of unearned income?
Edit: spelling
Two parts of this short and powerful piece really leapt out at me: > all under the auspices of a hard line Republican administration > Washington under any administration will have no choice but to bail out all the state and local agencies and every insolvent pension scheme wholesale There are underlying problems being forced to the surface by COVID that go deeper than political parties. Somewhere between the 1970s a…
>Somewhere between the 1970s and 2000s I think you'll find it was precisely 1971.
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Economy is NOT a social construct, fabricated or not. Economic laws are direct consequences of physical laws (i.e. scarcity is the result of Fermi statistics which makes material things to take space and of the no-cloning theorem which means the material things cannot just pop into existence because somebody wished them), or otherwise rather tautological mathematical statements (for example the first welfare theorem…
I have to disagree. Economy is the interface between producers and consumers of resources. It’s big time a social construct, and therefore the subject of political action. Importantly, the idea that state intervention is bad for the economy as a universal rule is simply wrong. In the long run, history clearly teaches that mixed economy work (e.g. a la Keynes), while laissez-faire (e.g. a la Friedman) or centralized e…
History teaches no such thing. History teaches that governments messing with the money supply, which is the centerpiece of Keynesian economics, leads to civilizational collapse. The Roman empire being a prime example.
> centralized economies (e.g. a la Communist) don’t
Government messing with the economy by manipulating the money supply is just a different form of central planning, and doesn't work for the same basic reason that Communist central planning in the Soviet Union didn't work.