gus
5mo ago
Sort of off topic but related. Weah was an incredible soccer player and his son plays for the US and scored our first goal in the last World Cup: https://youtube.com/watch?v=j_PpPF2MU3I?
gus
7mo ago
There’s plenty of lurkers and occasional posters that would be more likely to participate with a BLR. People are intimidated a lot of the time especially with top level posts.
gus
10mo ago
This is classic preference falsification. Timur Kuran wrote the main book on this phenomenon:
The book was a fleshed out scholarly article that you can read here if you prefer:
gus
1yr ago
When does “new money” become “old money”? How many generations does wealth need to pass before you become the latter?
gus
1yr ago
What’s the point of growth? I’m asking about economies, companies, social security, and all types of organizations. And should GDP growth stop at some point, what are the unintended consequences if such a thing happened?
Malthusian thinking was wrong but it was sound science for the data he had. There’s probably a max carrying capacity for the Earth, unless we find incredible inventions. Another invention like the Haber process just seems unlikely. To me that looks like a future where most countries around the world will stabilize into an economy that treads water without growing nor contracting.
I’ve always heard from big wigs that you either grow or die? But if our future looks more like the countries with low fertility, then at the end of it doesn’t it mean that our our economy needs a new way of functioning.
Well everyone hears stories about Musk or Gates or Bezos or Lebron or Jordan or Kershaw, making astronomical figures. To most Americans that type of inequality is okay because the economy is growing like an amoeba trying things out, that sometimes get unicorn status. Now, if in the future that economic pie becomes nearly constrained, the only level of power left is the communists/technocrats that will divvy up the economic pie.
Income equality is no big deal as long as there’s a rising tide with opportunities for your own lottery ticket.
Too big to fail has morphed to become one of the worst ideas this century. Doesn’t mean they should do nothing, they should’ve kept the system afloat while reforming the system and exposes/charging all the financial decisions those big banks did. Instead we are again stuck in the same system trying to put bandaids on their recklessness.
Remember the movie The Big Short explaining CDOs? Reuters in 2019:
Synthetic CDOs once symbolised the kind of financial wizardry that led to the financial crisis of 2008. A decade on, banks are again staffing up desks to trade these complex products on the back of growing demand from yield-hungry investors.
https://www.reuters.com/article/idUSL5N22B5Q2
Why can’t we make the finance industry basic again? Without all the never ending novel financial instrument inventions—There’s almost zero productive reason that brilliant quants are needed in vast numbers on Wall Street. Unless of course you just want to make as much money as possible.
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I’m sorry for how all over the place this was. I was up all night reading and had a bunch of disparate thoughts that felt quasi-connected. In the morning I’ll clean it up.
gus
1yr ago
This seems a bit crazy to me. I work in television and those snippets happen weekly to the crew by the talent. That’s the world she came from. Not saying it’s okay but if those are that bad then we’ve got an entire industry that needs to be dismantled and reassembled.
Here’s the famous Christian Bale outburst: https://youtube.com/watch?v=0auwpvAU2YA
I hear talent or above the line folks dressing down people just like that all the time. The only difference is Bale’s outburst was leaked.
They should not be completely banned. They should be forced to put their investments in a blind trust. They can set up with all types of investing strategies depending on their appetite for risk.
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