Specifically, there's 71% left to go.https://twitter.com/CNBCTechCheck/status/1395785121861718021 …
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Why this constipated capital just sloshes around, with investors increasingly desperate to allocate it, while the physical world around us stagnates and wages are low, remains a mystery to me. America used to be good at this kind of thing!
I wish I had a @matthewstoller-like Big Theory about this glut (everything is monopoly!), but I don't. What changed after 2008 to kill innovation and real investment dead?
Look at all this sweet moolah. Why can't it get down to building factories and trains and spaceports and so on?pic.twitter.com/kJS4xGcLSz
I feel like I increasingly don't understand anything that happened after the 2008 financial crisis
Nicely put.
I guess capitalism without risk is rent-seeking.
I like to describe Capitalism as a tool. Socialism is also a tool. Depends on what you want to build. Rapid industrialization? Bust out the Capitalism. Reliable healthcare? Get the Socialism. Great infrastructure? You want to use both tools, &c.
My mental model of capitalism is more like an engine. It works great, but if you just put it on a cart you'll have a bad time. It needs a catalyctic converter, seat belts, emission standards, no lead in the gas, and so on.
Relevant take for crypto as well.
my impression is that when the business cycle is up, the focus is on getting investement. When the business cycle is down, the focus is on getting money through selling goods and services.
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