I've come to think that the fundamental problem is that the wealth has been concentrated to the point that a few people end up with so much more money than they have investment opportunities. The amount of money is so far beyond what they need, that the risk vs reward calculations are fubared. Why not pour venture capital into dodgy tech startups that are unlikely to turn a profit? You might get lucky and they might look good enough later for you to sell at a profit. If not, write it off and no big deal. Why not bet on 00?
2+ months into covid and another 2M jobless claims this week, total over 38M filed. Unemployment likely now over 20%. US expected to borrow over $4.5T this year. State deficits ballooning Fed balance sheet over $6T, and to swell to over $10T by FYE 1/3 of main street retail dont expect to reopen Stock market recovering nicely....boosted by big tech and other large caps that not only will survive covid but thrive Bond markets, which better reflect the real economy, still with historical low rates...10 year bond still below 1%, indicating rates expected to remain low as the economy struggles at least through 2021
...there is a very popular belief that the world is going to hell in a hand basket (after watching the news, i think it is the default position)
doom sells and bad news leads for sure, this is not to say that we do not have some huge challenges (we do and we always will)
... just be prepared for some push back if you point good news out
Of course there are always huge and sometimes terrifying challenges, and these immediate ones are very frightening, especially with the uncertainty, but yes, the old "hell-in-a-handbasket" or the "end-is-near" belief is a constant - at least throughout most of the 20th Century. Think of what people lamented about during each decade. Pessimism, fatalism, and nihilism are always popular poses - they can make one seem all-knowing, distant, and cool.
man i just got some super spiffy sneakers in the mail (really)
2+ months into covid and another 2M jobless claims this week, total over 38M filed. Unemployment likely now over 20%. US expected to borrow over $4.5T this year. State deficits ballooning Fed balance sheet over $6T, and to swell to over $10T by FYE 1/3 of main street retail dont expect to reopen Stock market recovering nicely....boosted by big tech and other large caps that not only will survive covid but thrive Bond markets, which better reflect the real economy, still with historical low rates...10 year bond still below 1%, indicating rates expected to remain low as the economy struggles at least through 2021
But I did save 15% on car insurance this month!
Good thing we were only running at $1Trillion deficit/year during the "Greatest Economy Ever". {/snark}
Now the Democrats are going to have to raise taxes following the Republican "blue light specials"...and in a few years they'll be back to complaining we need a balanced budget and lower taxes. Round and round......
2+ months into covid and another 2M jobless claims this week, total over 38M filed. Unemployment likely now over 20%. US expected to borrow over $4.5T this year. State deficits ballooning Fed balance sheet over $6T, and to swell to over $10T by FYE 1/3 of main street retail dont expect to reopen Stock market recovering nicely....boosted by big tech and other large caps that not only will survive covid but thrive Bond markets, which better reflect the real economy, still with historical low rates...10 year bond still below 1%, indicating rates expected to remain low as the economy struggles at least through 2021
...there is a very popular belief that the world is going to hell in a hand basket (after watching the news, i think it is the default position)
doom sells and bad news leads for sure, this is not to say that we do not have some huge challenges (we do and we always will)
... just be prepared for some push back if you point good news out
Of course there are always huge and sometimes terrifying challenges, and these immediate ones are very frightening, especially with the uncertainty, but yes, the old "hell-in-a-handbasket" or the "end-is-near" belief is a constant - at least throughout most of the 20th Century. Think of what people lamented about during each decade. Pessimism, fatalism, and nihilism are always popular poses - they can make one seem all-knowing, distant, and cool.
haresfur's instructor is correct (basic property/human rights with access to energy, technology increases production/education = women coming out of the house into careers)
or something similar
there is a very popular belief that the world is going to hell in a hand basket (after watching the news, i think it is the default position)
doom sells and bad news leads for sure, this is not to say that we do not have some huge challenges (we do and we always will)
however there is quite a bit of measurable human progress
for what it's worth, my sociology prof argued the reverse. Get people into a secure economic situation and they will limit their reproduction.
Unfortunately the number of people/families in secure situations, all over the world, has dropped considerably. Forget COVID-19, it's been happening for decades. c.
haresfur's instructor is correct (basic property/human rights with access to energy, technology increases production/education = women coming out of the house into careers)
or something similar
there is a very popular belief that the world is going to hell in a hand basket (after watching the news, i think it is the default position)
doom sells and bad news leads for sure, this is not to say that we do not have some huge challenges (we do and we always will)
however there is quite a bit of measurable human progress
for what it's worth, my sociology prof argued the reverse. Get people into a secure economic situation and they will limit their reproduction. I think you need access to birth control, abortion, health care, and aged care along with economic security. If the one child program was an aspirational policy, not a rule, it would be ok.
Overall, I believe there is less misrepresentation of the crisis in China than there is in the USA.
That theory has well-established empirical evidence to back it up. Unfortunately the number of people/families in secure situations, all over the world, has dropped considerably. Forget COVID-19, it's been happening for decades. c.
