I have to wonder: what happens if this time around the bailout is ONLY for the 5%. Inject capital into stuff economy. The banks get a piece if stuff-people decide to give them a piece. Reinflate the economy bottom up rather than top down. Impossible thought experiment of course.
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1 trillion divided by 330 million is about $3000. Here’s a thought: airdrop $9,000 into the checking account of every American. Cost: $3T. A mere 3x-ing of the deficit. Let’s see how much trickles upwards into exotica. Test how much skin in the game we *want* in Wall Street.
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Heh strikes me that a taste for exotic financial products among the ultrawealthy is kinda the same as their taste for exotic game meats in Wuhan, which I hear is a scarcity era necessity from cultural revolution now driven by demand from rich elites. Both risk exotic diseases.
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Venkatesh Rao Retweeted Dave@home
tldr of my thread
https://twitter.com/davecporter/status/1238183623624396802?s=21 …https://twitter.com/davecporter/status/1238183623624396802 …Venkatesh Rao added,
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If you don’t participate in the higher financial markets, you’ve been signed up for a religion without consent. It’s like if your tax $ were used to fund faith-based initiatives with no strings attached. Violation of separation of church/state. Oh wait they’re doing that too
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World to China: please stop eating pangolins unless you’re literally starving. World to Wall Street: please stop trading pangolin options unless you’re doing it in an opt-in trading card game like MtG. My MtG playing friends are nice. They don’t create tail risks for me.
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In Discworld, the gods play a board game up on Cori Celesti where their game moves literally shape discworld history. That’s basically what we have here.https://discworld.fandom.com/wiki/Cori_Celesti …
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The gods live in the kingdom of Dunmanifestin on Cori Celesti. Play on “done manifesting”. They have earned fuck-you-money levels of belief among the mortals so their fates are not tied to those of believers. No need to answer prayers or pay attention. https://wiki.lspace.org/mediawiki/Dunmanifestin …
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By contrast small gods of discworld are scraping by on low, critical levels of belief, not mass levels of uncritical belief. They have to *work* to keep divine status via belief flows. Better off than mortals since they are immortal but they’re the working rich without FU$.
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Replying to @vgr
Discworld caught my eye here, as a childhood fan
& tbh is an excellent lead-in to a thread like this, for those like me who find finance discourse super intimidating
You consistently excel at this - painting ideas across many facets, making accessible across disciplines 
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Heh I find finance super intimidating too, it’s the same response. That’s why I don’t trade beting basics. But that’s also why people like us will never be ultrawealthy.
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Replying to @vgr
I think since my primary role's been "public hackerspace educator" it trained my instincts to be "DYOR x10000!" i.e. very risk-averse. In contrast, my adrenaline-junkie "caught the knife" buying yesterday's dip at a BTC ATM lol. I would never have the guts to make that call!
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