When we bailed out the autos in 2008 it sealed the fate of the thousands of tinkerers in garages across the country who would never get a chance to unleash their creativity. Better safety and other bells and whistles, but the vehicle is still doing the same thing it did 100 years ago no matter what Elon says is possible.
Taki was right about the lack of real technological advancement and while it's normal to blame education and a variety of other straw men, the ultimate culprit is the cancellation of creative destruction within the soul of capitalism. Replacing it with a protected corporate class only brings stagnation, atrophy and ruin...
"It’s all bonkers Alice in Wonderland-type stuff, yet it’s accepted as completely normal."
Are you asleep then?
Japan is a freakish exception to the money printing illusion because their culture preaches very conservative low private debt (especially in households). The more the government prints, the more reserved households become. Japan also has a dwindling population stifling growth. Not to mention the young men in love with their AI girls and anime body pillows - precluding any hope of a real human relationship or children.
MMT has blown up spectacularly in America, EU, England, Australia. It's amazing how they all engage in pofligate helicopter spending and inflation explodes at the same time, achieving what zero rates and QE could not. The Swiss are crafty i.e. They craft actual real goods so their CHF is worth something. Print a little, be cheeky just like putting back in the vodka bottle.
I don't see the BOJ as any sort of exception to my point, which was simply that the BOJ manifests currency out of thin air to buy real assets, as does the Swiss National Bank, the Fed, the PBOC etc. I don't blame them. It's a nice scam.
The crew at ShadowStats avers that consumer price inflation using the 1980 equation on today's data is about 14%. The really interesting question is whether Powell and friends are going to make their own version of the Volcker "mistake." Quantitative easing to avoid bank collapses seems functionally like Volcker's supposed error.
Mankind will be free. It's going to take a lot of prayer. It may involve a certain number of govt regulators hanged in the entrails of systemically important banking gangsters. God's will be done. Amen.
When we bailed out the autos in 2008 it sealed the fate of the thousands of tinkerers in garages across the country who would never get a chance to unleash their creativity. Better safety and other bells and whistles, but the vehicle is still doing the same thing it did 100 years ago no matter what Elon says is possible.
Taki was right about the lack of real technological advancement and while it's normal to blame education and a variety of other straw men, the ultimate culprit is the cancellation of creative destruction within the soul of capitalism. Replacing it with a protected corporate class only brings stagnation, atrophy and ruin...
"It’s all bonkers Alice in Wonderland-type stuff, yet it’s accepted as completely normal."
Are you asleep then?
Japan is a freakish exception to the money printing illusion because their culture preaches very conservative low private debt (especially in households). The more the government prints, the more reserved households become. Japan also has a dwindling population stifling growth. Not to mention the young men in love with their AI girls and anime body pillows - precluding any hope of a real human relationship or children.
MMT has blown up spectacularly in America, EU, England, Australia. It's amazing how they all engage in pofligate helicopter spending and inflation explodes at the same time, achieving what zero rates and QE could not. The Swiss are crafty i.e. They craft actual real goods so their CHF is worth something. Print a little, be cheeky just like putting back in the vodka bottle.
I don't see the BOJ as any sort of exception to my point, which was simply that the BOJ manifests currency out of thin air to buy real assets, as does the Swiss National Bank, the Fed, the PBOC etc. I don't blame them. It's a nice scam.
When you really follow it through to its logical conclusion, there’s really no way that the conjurors don’t end up owning everything, is there?
Remind me: what does your acronym for CNBC stand for?
I tend to use CNBS, which should be self-explanatory. https://www.cnbc.com
Oh, duh…bullshit? I was overthinking it.
‘Now these big investors are back crying on CNBS about higher rates. Easy come, easy go, guys.’ >> Easy come, easy go fuck yourselves, guys.
The crew at ShadowStats avers that consumer price inflation using the 1980 equation on today's data is about 14%. The really interesting question is whether Powell and friends are going to make their own version of the Volcker "mistake." Quantitative easing to avoid bank collapses seems functionally like Volcker's supposed error.
Mankind will be free. It's going to take a lot of prayer. It may involve a certain number of govt regulators hanged in the entrails of systemically important banking gangsters. God's will be done. Amen.