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really glad to see we're gonna be growing the world's crops on the canadian shield. you goddamn morons (whoever made that).
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Feb 21, 2018 02:37
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my mom is going to be devestated. my parents have lovely rural internet and starbucks was her go-to place to get her updates done.
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Jun 10, 2020 18:37
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uncop posted:Lmao as if. The threat of another Lehman will be fought unanimously, even if you have to pay for it with your savings, grandma and health. The author isn't wrong that not bailing out the banks again will cause a massive shitstorm in the economy as credit dries up and 30+ years of effectively no wage increases catches up with pretty much everyone who has had to borrow in order to keep living. Of course the solution of No Really We Mean It, Serious Banking Reforms This Time is a also a laugh given the state of the US government. It can barely keep up the appearance of bailing out its citizens when a third of the country is unemployed while paying off as many corporations as possible. The idea that another financial crisis is going to trigger real bank reform is hilarious. Another person who can see the crisis but can't understand the contradictions.
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Jun 10, 2020 21:55
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Ardennes posted:There will some pretty funny parts from Jpow's press conference, especially that he doesn't concern himself with the stock market or the bubble that formed. Also, that they are "keeping an eye on inflation" after just printing 4 trillion dollars. Admittedly, we probably won't see inflation, because after the country is out of work (although the dollar is steadily weakening). I'm hardly an expert on the economy, let alone the American economy, but from what I understand the post-war period until the 1970s was marked by central banking policy that focused on zero unemployment. That changed in the 1970s to target interest rates to prevent rampant inflation. It just seems darkly hilarious that we're seeing the endgame of that policy in that as long as interest rates stay under 2% it doesn't matter how many people are thrown out of work.
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Jun 10, 2020 22:19
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Ardennes posted:Someone it is just that the Fed or any central bank isn't designed to run a country on its own and when it does, you get weird ridiculous poo poo. Good points, and thanks for the clarification on the problems of the 1970s.
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Jun 10, 2020 22:43
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Just noticed the thread title; I approve.
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Jun 11, 2020 14:34
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comedyblissoption posted:I would enjoy dramatic readings of the thread title If only Patrick McGoohan was still alive.
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Jun 11, 2020 18:33
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Sheng-Ji Yang posted:dow down over 1k. looking forward to the potus delivering a calm and reasoned address to the nation and not deranged tweets at 2 am
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Jun 11, 2020 18:36
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Radirot posted:austerity looking great! gently caress it let’s add some more corporate tax breaks while we’re at it! austerity for thee, not for me
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Jun 11, 2020 18:43
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Rutibex posted:there will be nothing to collect when the government collapse all the US dollars will vanish into the ether. like killing a wizard to end his spells  but instead of shotguns its USD
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Jun 11, 2020 19:53
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Ardennes posted:As for other other currencies, I could certainly see an amount of competitive devaluation occurring i.e the dollar can only get so low before it impacts trade. That said, the EU may simply use a combination of stimulus spending (causing brief term devaluation) and a more protectionist regime to get a bit of both worlds. CND is already dropping, and we're an economy based entirely on a real estate bubble and natural resource extraction, and America is by far our largest trading partner and our economies are deeply integrated. Should be a wild ride.
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Jun 11, 2020 19:55
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from a detached point of view i'm really interested to see how these CLOs play out if (when) the banks fail again. the actual impact is going to be awful, of course.
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Jun 12, 2020 21:43
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Ardennes posted:I still in a bit of awe that Blyth understands the economic history of the modern-era this well, and also completely disregards Marx. https://newrepublic.com/article/117655/thomas-piketty-interview-economist-discusses-his-distaste-marx' I guess it's because Marx doesn't have Data.
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Jun 13, 2020 03:44
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I can only speculate, but it might be a modern economist thing where some of Marx's ideas got laundered into economics but Marx himself is irrelevant because it's the 19th century and bolts of cloth aren't important as Finance and modern ideas of wealth. Or something! But yeah it sounds more like a deflection because you don't mention Marx in proper academic society, he's a crank and his followers are cultists after all. Reading a few reviews that mention Marx, reviewers view Marx's idea of "wealth" as an exploitative force, but Piketty, the cool economics guy who uses Data and Science, sees it as an accounting term. Or to quote an article from the NYT written by Krugman in 2020 quote:In Marxian dogma, a society’s class structure is determined by underlying, impersonal forces, technology and the modes of production that technology dictates. Piketty, however, sees inequality as a social phenomenon, driven by human institutions. Institutional change, in turn, reflects the ideology that dominates society: “Inequality is neither economic nor technological; it is ideological and political.”
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Jun 13, 2020 04:10
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What gets me, and please correct me if I'm wrong, but Marx was building on the work of Ricardo and Smith with things like the LTV. It's not like he sat apart from economists in a lot of his work, save in his ardent opposition to the economic order of the day and that societies would eventually transcend it. There are parts of his work that are descriptive and fewer parts that are prescriptive, but other economists were annoyed at his work to the point where they just straight up ditched the LTV as a guiding principle and invented the...marginal utility theory in its place?
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Jun 13, 2020 04:13
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Marx Headroom posted:Blyth is the guy who observes drily to the conductor that the train is headed off a cliff Yeah, ""The Hamptons is not a defensible position. It's a low-lying beach. Eventually people will come for you"" is really in that spirit. Ardennes posted:Yeah, there is plenty of Smith and Ricardo in there among others. Anyway, it doesn't make sense anyway, since Piketty's data backs up Marx. Usually, in history, you cite a previous author but say you adding to his work, not dismissing it. I don't think my discipline (history) is far superior than every other (I'm not a political scientist haw haw haw), but it really seems like a lot of disciplines would benefit from something akin to historiography.
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Jun 13, 2020 04:28
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I will say that I like checking Blyth's twitter because he seems to find pretty underreported stories about the economy that are usually a good read.
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Jun 13, 2020 04:40
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Antonymous posted:edit: I forget exactly how marginalism started but I'm sure it looked like a paradigm shift, which answered paradoxes that classical econ had no answer to, moving from input / output tables to abstract calculus (wow! like physics!) and integrating utilitarian morality into it. Also ideologically good to take interpreting capitalism away from the socialists. I should read more about that transition. There is also a 'neo-marxist' school that continues aspects of Marxism but isn't some communist ideology... more just accepting that classical econ still has stuff to offer. I'm also interested in this transition as well. Richard Wolffe argued it was an intentional shift because, as you say, it gets interpreting capitalism away from the socialists and helps defang labour, if only abstractly. I'm not completely sold on it but I don't know a lot either. Thanks for your answer to my post as well!
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Jun 13, 2020 04:49
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np19 posted:I read both of Piketty’s Capital books. The first book was comprehensive in outlining scope of inequality and mechanisms of how it got there. It did not go much further than that in addressing a remedy. I still have to get to Capital and Ideology, glad to hear it lays out some solutions. I know Piketty's solutions are far more radical than his politics suggest, as it's entirely in the service of saving the current economic system.
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Jun 13, 2020 17:43
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haakman posted:We teach a poo poo tonne of Charlie M in Sociology where his ideas are respected and have generally panned out. It's funny how wokeness/PC culture is viewed by certain uh, people as a priest class over callouts/struggle sessions over culture war on social media, but actually step into the real world and economics/business schools actually have way more power. look at the growth of the number of americans who graduate with business degrees, it's incredible CRUSTY MINGE posted:Not anymore, no. The days of the manual transmission are nearly over in civilian transport. Even tractor-trailers have gradually been seeing increases in automatics. the only time I get the opportunity to practice driving stick anymore is driving a 65 year old tractor, and the one time I rented a car in france, although they just gave me an automatic car anyway. Dreylad fucked around with this message at 15:45 on Jun 14, 2020 |
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Jun 14, 2020 15:43
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credit where credit is due, they managed to find something worse to bet on than sub-prime mortgages.
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Jun 15, 2020 02:21
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Optimus Prime Rib posted:It wouldn’t be an Atlantic article without a lib author getting so close to getting it, then veering away hard at the last second. well it would be devestating to the global economy and probably get a bunch of people killed but I imagine he's more thinking of his portfolio
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Jun 15, 2020 03:17
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Why walk when you can ride the number
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Jun 15, 2020 15:39
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Sheng-Ji Yang posted:https://twitter.com/DeItaOne/status/1272530857815871492 those tweets in all caps make it sound like its coming from a mad max warlord screaming them in defiance
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Jun 15, 2020 15:54
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sum posted:Probably never, at least not before a revolution. Middle-class+ boomers as a class are basically the most secure type of everyday Americans. By the time they would begin to feel precarious like 90% of Americans would have to be teetering on the edge of poverty if not completely indigent. A crisis wouldn't make it that far before many Americans would be driven to extreme measures. You're not wrong about how comfortable they are but remember the more you have the more you feel you have to lose.
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Jun 15, 2020 22:50
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yeah well to all you naysayers what if this works and number goes up forever. crying in your copies of capital in the midst of a number utopia.
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Jun 15, 2020 23:01
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Mr Hootington posted:Ok where is the scam? non-profits
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Jun 15, 2020 23:40
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not all non-profits are scams, but many scams are run through non-profits.
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Jun 15, 2020 23:55
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Mr Hootington posted:A bunch of the twitter finance and econ guys are super racist and facist once you get into their likes, follows, and responses. to connect this to the ww2 chat, I've looked at Canadian business papers for research and every single loving one was cheering on adolph to crush the soviet union and had to change their tune september 10 when parliament voted to go to war. no surprise but man what a memory hole we have about "patriotic businesses" outside the oft-mentioned ones that were helping nazi germany out prewar
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Jun 16, 2020 07:01
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decades of politicians whining about public debt and how it places a burden on future generations and worrying about future generations to justify endless austerity and it all leads to this.
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Jun 16, 2020 16:46
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mastershakeman posted:Maybe my friend with a tiny board game company can issue a trillion dollars in bonds and get the fed to buy them looking forward to all the physical rewards that will come with their next kickstarter
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Jun 16, 2020 16:51
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HookedOnChthonics posted:This isn't just a hippie orb mom thing btw. This is the literal exact critique that Simon Kuznets, the economist who formulated the GDP index for Congress in the 1930s, accompanied it with—"HEY IDIOTS, THIS NUMBER SAYS NOTHING ABOUT HUMAN WELFARE." It's still hard to believe that williamson is, at times, careening further left than any of the other democratic primary candidates.
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Jun 16, 2020 16:56
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Penisaurus Sex posted:Number is an idea, a concept, a wave form collapsing. Number didn't die, just a point of view. "A certain point of view?" "Luke you're going to find that many of the numbers we cling to depend greatly on our own point of view."
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Jun 16, 2020 18:07
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uncurable mlady posted:pretty sure people not having money to buy things reduces corporate profits that's the gap consumer credit has been filling for the last 40 years
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Jun 19, 2020 16:33
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I really want to see what the US government does once things get even worse. They've done basically jack poo poo and are trying really hard to be as unsympathetic as possible to the average American. If people can't get food at food banks or anything well...uh...
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Jun 20, 2020 02:22
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Not everyone enjoys cooking, I get it. I do so my wife benefits I guess. The only downside for her is she has to put up with whatever experiment I embark on if I'm feeling adventurous even if it turns out like poo poo.
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Jun 20, 2020 04:40
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HelloSailorSign posted:Not only have we not been eating out, our meat consumption has dropped by at least half, mostly replaced with beans.  Although I've had to up my meat consumption some in the last year due to a diet change, it just means we buy local meat which is pretty drat good. Radirot posted:are you both taking turns with cooking? ive been getting real overwhelmed doing it most of the time. also good idea to use a crock pot i need to use mine more often. It seems hard and obnoxious at first but if you can meal plan for a week, or even a few days in advance, it really takes some of the stress of figuring out what you're going to make every night. Also you never let any groceries go to waste. Dreylad fucked around with this message at 18:33 on Jun 20, 2020 |
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Jun 20, 2020 18:31
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Rectal Death Adept posted:If i eat anything that has onion powder / has been cooked with onions in any way I blow my rear end in a top hat out. Like comical movie tier levels. I have a friend who had a similar problem. Olive oil infused with garlic/onion seemed to be fine, so I made a big batch when she stayed with us for a week, and that seemed to be okay (or she was too polite to tell me otherwise).
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Jun 21, 2020 17:29
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OhFunny posted:
Defund the police already making great gains
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Jun 22, 2020 20:45
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Could be worse, you could be invested in the Albertan tar sands.
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Jun 22, 2020 21:14
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