Warren Buffett Hates It. AOC Is for It. A Beginner’s Guide to Modern Monetary Theory.
- great MMT overview
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Will we see dollar hedgemony truely challenged in the coming decade or will it strengthen its grip in an uncertain world or during another economic crisis?
Its use a weapon has been prolific in recent years decimating "rouge states" economies, but its actions have drawn criticism not only from China and Russia, but some of its Western allies as well. ...Read More
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""We believe that sustainability should be our new standard for investing," BlackRock CEO Larry Fink says. The investment giant's move puts pressure on companies to reduce reliance on fossil fuels."
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Jehu on MMT, privatisation and state fascism.
'Capitalists need someplace to park their excess capital and the state provides this service by running deficits. The state then pays interest on the debt, which adds to the profits of the capitalists — a return they could not get if they held their excess capital in a dead hoard ...Read More
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“Economies have been imagined in macho terms of machines, control, and the aggressive pursuit of growth for so long that it can be difficult to think otherwise. Emotions, care, and interdependence have been imagined as only belonging to a more feminine sphere, so pointing out their relevance for commerce risks
...Read More
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"MLS theory makes it crystal clear that unless competition is appropriately structured and refereed, it can do a lot more harm than good."
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More math-related rather than economic but an interesting read.
"Numbers have their own “demographic” characteristics. There are odd and even numbers, of course, and numbers that are multiples of 3, and numbers that differ from each other in even subtler ways. When you construct a sample of numbers, you can weight it toward containing certain kinds of numbers and
...Read More
105
Its not just a case of where you're born but when!
"Overall, millennials earn 20% less than baby boomers did at the same stage of life, according to “The Emerging Millennial Wealth Gap,” a recent report from the nonprofit, nonpartisan think tank New America. Specifically, median earnings for those 18 to 34 are lower than they were in the 1980s, a ...Read More
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“To put it bluntly: QTM is obviously wrong. Doubling the amount of gold in a country will have no effect on the price of cheese if you give all the gold to rich people and they just bury it in their yards, or use it to make gold-plated submarines (this ...Read More
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"The long read: Calculating the patterns and cycles of the past could lead us to a better understanding of history. Could it also help us prevent a looming crisis?"
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"The 2020s are set to be a decade of dramatic economic and social upheaval, reversing many of the trends of the past 40 years, according to one of the world's largest banks.
Key points: ...Read More
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"The Cosmic Crisp could change the apple industry."
In its report, the firm said banks risk “becoming footnotes to history” as new entrants change consumer behavior. Most recent attempts by banks to boost efficiency have been “business-as-usual,” it said.
"Westerners tend to identify China’s coming political crisis with developments such as the brave, educated, and often English-speaking protests in Hong Kong. Although they undoubtably pose an annoyance to Xi Jinping’s regime, the real existential challenge to the regime derives not from China’s middle orders but from the very classes ...Read More
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Be prepared fellow millennials 2020s is going to be a little bumpy