Message from @Sh0t
Discord ID: 645745012268597288
like Nassim Taleb is today or Steve Keen
The most hard working people in America are suddenly people with obvious unearned income, and while im not a huge fan of bailouts, they can be necessary in making sure the economy stays in balance
His economic tool kit was limited, built on the English classicals and they were not very good
He would be smarter than that, he pre-dated futures contracts and all the risk analysis that has come from learning them, he would understand some people are socializing their risks on society and not 'earning' the income of those capital gains or coupon payments
He's still quoted by modenr day economists for that reason, he 'got it' just not in depth
and nah the bailouts are not necessary for that at all, they do the exact opposite
the whole point of capitalism is the creative destruction that comes from poorly run businesses going bankrupt, out of business, and their assets sold off
Nobody would rail against bailouts harder than karl marx, they are the epitome of the 'worst of both worlds': private profits, socialized losses
Why have 3 big automakers when we can have 300 smaller yeoman car makers!
Keen explaining a few pieces of Marx's written bits on complexity
gross
<:political_thinking:583244726040264704>
Fed was starting to shrink the balance sheet, Trump brow beat them until they started expanding it again, QE4 baby, i traded that
along with the rate cut
that trend of workers' share of gdp is scary, and the turn around that was happening 'under Obama' seems like it will start declining since the tax cuts are and gov deficit growth isn't being paired with any real populist gov spending
```The U.S. government’s budget deficit ballooned to nearly $1 trillion in 2019, the Treasury Department announced Friday, as the United States’ fiscal imbalance widened for a fourth consecutive year despite a sustained run of economic growth. The deficit grew $205 billion, or 26 percent, in the past year.
The country’s worsening fiscal picture runs in sharp contrast to President Trump’s campaign promise to eliminate the federal debt within eight years. The deficit is up nearly 50 percent in the Trump era. Since taking office, Trump has endorsed big spending increases and steered most Republicans to abandon the deficit obsession they held during the Obama administration.```
usually gov incomes soar during boom times
Btw Taleb is oddly a trump supporter thinking he is somehow reallocating risk. Very odd conclusion to otherwise sound economic thinking
Just looking at the macro trends in general, the initial one was a subtle counter-narrative to the Trump economy porpaganda
What's your thoughts on taleb
one of the greatest living philosophers for sure, in my book
So you support Trump but admit most of his talk on the economy is propaganda, yeah?
I guess I dont see his point A to B but if hes a great philosopher...
I don't support him, I take the individual policies and judge them, but I dislike the 'extracurricular' activity
Judging policy is great and all but end of the day you have to vote D or R
I didn't vote either last time
I voted for McMullin
Right
Ok
Curious
<:yus:538083968881524747>
What state do you live in?
I have property in several states, 1 liberal, 2 conservative
You voted 3 times illegally?