WjRMming

Macroeconomics Researcher | Football | Photographer

[WjRMming @wjrmming]

Is the world convergent or divergent? If it is convergent, there is a ceiling above it. If it is divergent, what is large may become larger and the branches may spread further apart. It offers a way to understand the world.

[WjRMming @wjrmming]

AI can improve and applications can expand while competition lowers model providers' expected profits. Cheaper AI may create opportunities downstream. Technology, industry growth, corporate profits and investment returns are not the same.

[WjRMming @wjrmming]

Technology expands what society can do. Competition shapes how much value firms can capture. Industry development changes who is best placed to benefit. These are connected questions, not rigid rules.

[WjRMming @wjrmming]

Early leadership does not ensure lasting success. Profits need not move from infrastructure to applications to platforms in a fixed order. What matters is whether a firm's strengths remain valuable as industry needs change.

[WjRMming @wjrmming]

Money is created endogenously. When the economy's drive to create money weakens and the real sector becomes reluctant to borrow, deposits cannot be created through that lending. The point is that money creation depends on the willingness of participants throughout the economy.

[WjRMming @wjrmming]

The experience is genuinely impressive.

[Claude @claudeai]

Introducing Claude Opus 5.5, the first model in our new Claude 5.5 family.

It performs at the level of Claude Fable 5.1 for most tasks, and costs 40% less to run than Opus 5.

[WjRMming @wjrmming]

This account will share research on China, the U.S., and the global macroeconomy and financial markets.

I’ll also post occasional notes and reflections along the way.