@DesoGames and lets not even talk about ECB or PBOC.
also it's just some absolute number that has no context. 10 years ago this would be a big increase, but now?...
@DesoGames all self reported. the only cross checkable are from FED. and it is only what is reported on-balance. God knows only how much is off-balance. and on top of that is the off-shore dollar(eurodollar). but if dxy/dollar weakens, then magically global M2 increases.
France having higher public spending as a % of GDP than the late Soviet Union is one of the funniest charts here.
It will end when markets stop absorbing French debt. The next Euro crisis will begin in France, it is just a matter of time. Enjoy the party as long as it lasts.
Yes, @AOC, you can absolutely *earn* a billion $.
By taking risk.
Not by stealing, obtaining market power (which is always enabled by political power, btw) or usurping labor laws 🙄, as the standard marxist theory teaches you.
The marxist theory of value never really talked about the fundamental reason behind wealth creation - risk.
This is because Marx never understood risk.
Neither does AOC or any modern day leftist, unfortunately.
I’m assuming 99% of them never actually read Marx. They read interpretations, or worse, read some pamflets and/or watched videos. And thus developed a very limited understanding of a theory which itself is very limited. Both in historical context and in understanding risk.
Marx, conditioned by his own Dickensian timeline, describes the conditions of early stage capitalism which was very brutal, unjust, and driven primarily by the misuse of political power (as were the centuries and millennia before it).
But he could never make a good prediction about what will come next and how this early stage capitalism will evolve because he didn’t see how risk takers behave under these conditions. Both on the side of capital and on the side of labor. Labor fought and gained its rights and legal protection for the first time ever during capitalism. Not during feudalism or any other time in history.
Marxist theory cannot explain the constant trial and error our societies have been going through since the Industrial Revolution. Many bad periods, many terrible injustices, wars, and suffering were all lessons learned to make systems better. And it’s never over.
Modern-day marxists are therefore stuck applying 19th century logic - which to them seems perfectly apt - to modern day societies.
They entirely miss the evolutionary origin of capitalism and markets, and still cannot understand risk, which is why they keep going on and on about billionaires who couldn’t have possible earned their wealth fairly.
Yes, in many countries the richest people did gain an unfair advantage and used political power to make their fortune. The poorer the country, the higher the likelihood that the richest in that country gained wealth in the old, pre-19th century style.
Some have in America too.
But the majority most certainly did not.
Jeff Bezos and Amazon almost went bankrupt in 2001, before he took a huge risk that finally paid off (allowing competitors to sell on Amazon).
So did Elon Musk’s Tesla in 2017/18.
Every major billion-dollar business has been there. And it was always risk-taking and the crazy, obsession-driven consistency of its founders.
These ppl have been through hell and back to make their fortunes. Do not belittle that just because you cannot explain it.
Maybe start expanding your horizons and read other stuff?
Like Elite Networks: The Political Economy of Inequality 📚😂
@DesoGames Trump the same as last n presidents is just the front man. US corporate oligarchy that actually rules US had prepared for war with Iran for some time. blockade is what they want and is their minimalist goal.
@_InfoGram_ don't be fooled ppl. West and BRICS are influenced by the same oligarchic forces behind the doors. It similar how it is with Repa and Dems in US. they both serve big money.
@KobeissiLetter what idiots. Israel serves as plossible denial for US. in truth they don't move a muscle with out consent from Washington. this the same tactic US uses in Ukraine. nothing new.