The Demoralization is just Beginning
geohot.github.io
The Demoralization is just Beginning
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Re: The Demoralization is just Beginning
#2Huh. I didn't know geohot commented on geopolitics
Re: The Demoralization is just Beginning
#3[flagged]
Re: The Demoralization is just Beginning
#4Steve Jobs told Obama something similar once. The idea was to provide worker visas to engineers who did well and graduated from good American universities. Basically give those workers a visa along with their diploma.
Obama thought the idea was intriguing and mentioned it multiple times to his advisors. It never went anywhere though.
Brain draining the rest of the world is one of the main reasons for America’s success. It is due to America being a nation of immigrants that we can do this.
Re: The Demoralization is just Beginning
#5> The reason the banking industry is so big is that it is close to the source of the made up dollars. If currency is gold backed, you could imagine something similar happening to the mining industry instead. However, the mining industry is real! It uses steel and aluminum to build physical things
This is an interesting thought. I don’t like mining too much, as it has a lot of negative externalities. But the comparison of the two industries and how money is created is something to think about
Re: The Demoralization is just Beginning
#6For his solutions:
"Brain drain" is what we had been doing for the past 80 years or so. It worked great. We're specifically driving people away now.
"Gold standard" is an idea every sane economist rejected decades ago.
Re: The Demoralization is just Beginning
#7> The reason the banking industry is so big is that it is close to the source of the made up dollars. If currency is gold backed, you could imagine something similar happening to the mining industry instead. However, the mining industry is real! It uses steel and aluminum to build physical things This is an interesting thought. I don’t like mining too much, as it has a lot of negative externalities. But the compariso…
I agree with his assessment as to what happens to the "source of value" but I think the gold standard is unbelievably stupid. At least crypto is no pretending to have any sort of intrinsic value and you know you get virtual value.
Re: The Demoralization is just Beginning
#8Huh. I didn't know geohot commented on geopolitics
Would’ve been nice if he kept it that way. Good grief.
Re: The Demoralization is just Beginning
#9For his solutions: "Brain drain" is what we had been doing for the past 80 years or so. It worked great. We're specifically driving people away now. "Gold standard" is an idea every sane economist rejected decades ago.
I dont think Brin Drain is a win-win outcome in a globalized world. USA benefits but at expense of mostly poor nations sending their elite talent.
Re: The Demoralization is just Beginning
#10The 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.