This Ray Dalio thing is above my financial literacy level, but it tracks with my anecdata. I hear people complaining about struggling to make rent, and people struggling to find a place to put hundreds of millions.https://www.linkedin.com/pulse/world-has-gone-mad-system-broken-ray-dalio/?fbclid=IwAR0kRor9Dt94pHKZxjvy9Ze_Kaki1nE8Bwytdj9Kd5_6EIwLln81EvlmuWk …
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And I would also say, „higher returns than can be realized at the current level of technological progress“ - this is our invisible asymptote today
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rate of tech progress in itself is fine, and on a societal level we've decided to not do Risk anymore hence compliance departments promoting check box security
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really? Seems more intuitive to me that the education system is broken so its difficult to generate human capital and that the wealthy are experiencing the exact same problems liberal economists predicted overly centralized socialist economies would face
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At least some of what he describes is an easy problem though. The Fed money could just be mailed to individual citizens. Would deflate the asset bubble, help the median income, and drive consumer demand. The only hard part is convincing Congress
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Pretty cavalier way to talk about other people's earnings isn't it?
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Good (and more accessible) overview here by
@matthewstoller: https://mattstoller.substack.com/p/how-monopolies-broke-the-federal … (via@timoreilly)Thanks. Twitter will use this to make your timeline better. UndoUndo
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Gov. monetary management should be thought of as a system of Sinks and Faucets. Sinks remove currency (taxes) and Faucets distribute currency (government spending, debt lending). Sinks and Faucets incentivize behaviors. Government needs to intelligently create Sinks and Faucets.
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UBI Debate looks to be just a debate over whether a Faucet could be created... not whether that is the best Faucet.
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People without money can't spend more money, growing sectors and industries, so prices of produced goods fall instead. Thank you for coming to my TED Talk.
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Corporates with too much cash can give it to shareholders, but many see their valuation tied to remaining a “growth” company I’ve got money earning less than inflation, but I want to use it for a house down payment and don’t want market risk. Am I owed a positive real return?
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