@ABCliberator@EPBResearch Yep. The consumer broke modern economics. They actually *don't* change their purchasing behavior based on price. This is a fundamental law that economics is built on. We need to rethink the whole science.
@TXMCtrades@1914ad I have to break monetary expansion down to the simplest application for my friends.
Eg, if a 100 person town with a fixed number of coins doubles to 200 people, it cannot continue to transact with 100 coins.
This is something that bitcoiners seem to have never learned.
@LynAldenContact It sucks that they couldn't have just listened to people that knew what they were talking about instead of wiping out businesses and cratering blue collar Americans' retirements.
Elections have consequences, I guess.
When was working at a large steel mill in northwest IN about 15 years ago, the entire mill employed about 5000. Back in '78, that mill employed over 27,000.
We made about 10x the amount of steel as they did in '78.
Automation and economies of scale are real. They are much more the culprit to job losses over the years than free trade.
@Rory_Johnston How do Refiners typically handle recessionary downturns? Do they accelerate their turnaround schedules just as they push them back when gas prices are high?
You are assuming there are not global paradigm shifts happening here. All of a sudden previously undervalued Chinese stocks are looking mighty juicy. If China increases their connections with the rest of the world while we decrease ours (which we're obviously doing), relaxes capital controls, etc China may become what the US just gave up. Global leader and the destination for capital.
Trump had no idea how important it is for the USD to be the global reserve. That may be gone now, and we will all pay.
@ryanl_hass This is the biggest opportunity for China since they were brought into the WTO.
The insinuation that Xi is shaking in his boots and ready to make a deal is laughable.
China executes 30 year plans. Not 4 year plans like we do here in the US.
@BlackLabelAdvsr@scottmelker You have not offered any counterpoints to anything he's written other than name calling.
Not a look that someone who can be objective would have.