@PeterTwinklage This seems… obvious? For every one of those foods mentioned, it’s quicker and more efficient to eat them with your hands—so we do. For rice, not so much. Even something like a steak, which you could theoretically pick up and eat, is a bit awkward to handle—so we don’t.
The US produces pieces of paper to trade with foreign countries in return for goods we do not want to produce ourselves. We then allow foreign countries to immediately give us back those pieces of paper for instruments that give them the right to receive pieces of paper in the future when they are worth less.
We could not be more angry about it.
All around the world, people are engaged in difficult labor to produce goods for American consumers.
And in exchange they get pieces of paper that we can basically print as many as we want of.
And yet some claim that we’re the ones getting ripped off.
Via @5thrule, this is now 4 straight days where the S&P 500 had a trading range greater than 5%.
The only other times this has happened were 1987, 2008, and 2020.
"We act as though comfort and luxury were the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about." — Charles Kingsley