Income = irresponsibility (in time)
wealth = responsibility (over time)
Wealth inequality is necessary because of competency.
Income inequality is useful in producing incentives.
Source date (UTC): 2023-02-19 18:51:15 UTC
Original post: https://twitter.com/i/web/status/1627380309812445187
This is my understanding as well. Because if we return to pre-1900 patterns of trade, a lot of the world who was elevated out of poverty will rapidly return to it as the complex system of world trade returns to a competition of imperial monopolies.
Source date (UTC): 2023-02-19 07:11:16 UTC
Original post: https://twitter.com/i/web/status/1627204152139870209
Reply addressees: @Belerez1 @Bittyboy699 @RoubleDestroyer @AboAlkher375 @WarMonitors
Replying to: https://twitter.com/i/web/status/1627203270031601664
WHICH FALLACY ARE WE ENGAGING IN?
Economics whether neurological, behavioral, micro, political, or macro, asks us to account for the seen and unseen, which overcomes the tendency to engage in foolish judgments.
In this case, that the costs are avoidable at all, rather than we are trying to pay the lowest costs by using time to our advantage.
CONTEXT
Just as the agrarian age, the age of religion, the bronze age, the iron age, and the steel age radiated outward from different points on the planet, causing disruption, modernity is spreading from the most advanced countries in Northwest Europe to the least advanced, and the most independent and federal to the most occupied and imperial.
In other words, we overestimate world wars as avoidable. They aren’t. They are part of the necessary progress from early tribal, to agrarian imperial, to industrial-sovereign to post-industrial federation as each empire comes to terms with their loss of ability to contain conquered peoples – and prevent the march of self-determination from spreading around the rest of the planet.
China and Russia are empires. They consist of predatory and deeply corrupt governments of organized crime syndicates. Unlike the Russians who did, and are returning to, the militarization of the labor pool as a discount, China could use currency and debt to discount the costs of their modernization. The Chinese learned from both Russia and the West.
India may have escaped the modernization crisis – or rather colonialism removed their choice – though the Hindu-Muslim conflict may yet bring it about. India is, despite its modernization, and the vast talent pool of its upper classes, fundamentally a religious society first. It has just as equal a chance to continue its rise, as it does to follow the Muslim golden age into the restoration of fundamentalism and face india’s second intellectual collapse.
Iran is in the process of trying to create an empire. An empire that monopolized Eurasian petroleum, from which they create a petro-currency, with which to fund their conquest of the middle east.
Under strong federalism in response to the civil war, and under managerialism and credentialism in the 20th century, America has slipped from a federation organized on the Holy Roman Empire combined with the invention of the British modern government and law, into an empire – at the cost of its founding populations, its law, and the culture that made it possible. Just as have other empires that have overextended. Especially Europeans who repeat overextension with disturbing frequency.
Europe is failing, or rather, France is failing (thankfully), to federalize Europe into a strong federal version of the USA while at the same time the USA is struggling with NOT devolving back to its constitutional formation as a military, financial, and trade alliance of independent European states, with different norms, traditions, values, and demand for regional and local commons to support those differences. (Which I work to accomplish)
With Germany overly pacified, Poland on the behalf of itself, with less than half its population and economy, is taking over responsibility once again for defense from the east. and we may see the intermarium states turn into the civilization we’d hoped for, and end both the French and Russian threat, while Germany recovers her willpower.
Continued…
Source date (UTC): 2023-02-18 20:50:53 UTC
Original post: https://twitter.com/i/web/status/1627048026161430529
Replying to: https://twitter.com/i/web/status/1627025797239431170
It’s so small it doesn’t matter. The SS&M/M burden is so large that there is no way to make it sustainable without adding at least seven years to the retirement age. The total discretionary budget is just 1/3 of revenue. Until we repatriate industry from overseas, increase the earnings of the laboring and working classes, and stop immigration so that we can increase teenage/young-adult and elder employment instead. There is no alternative.
Source date (UTC): 2023-02-18 17:58:14 UTC
Original post: https://twitter.com/i/web/status/1627004579400282112
Replying to: https://twitter.com/i/web/status/1627000432039194624
@Stoic_Media
Max,
Is the monetary condition of Pakistan, Turkey, Russia, (Egypt) etc in your field of view? If not I’ll ask elsewhere. 😉
If so, can you answer a question? I’ve an enviable record of prediction of major movements in the past but something has changed over the past few years, and it’s increasingly difficult for momentum to accumulate despite the negative signals and the determinism of the world condition.
So, I’ve been attributing this to the availability of information worldwide, and the cunning of the big banks, central banks, and the treasuries, at reacting rather quickly. And response times world wide are narrowing sure. But should momentum downward be building anyway? What’s causing the optimism (or pretense of it)?
Thanks
Source date (UTC): 2023-02-17 21:07:47 UTC
Original post: https://twitter.com/i/web/status/1626689892938928144
WHAT’S MONEY AND NOT?
Sharing again. I should make a larger more complete version of this graphic, with the properties of each instrument, because I have to explain this nonsense about twice a month.
I’d do a video on monetary & financial instruments because the public would benefit from it. But it’d just result in a bunch of sperg’s nonsense to reply to.
For serious folks, read Georg Simel’s Philosophy of Money, Mises relevant chapters in Human Action, and Rothbard’s Mystery of Banking. These Jews are to money what Europeans are to science and technology – even if they don’t ‘get it’ in the end: the west won with trust, productivity, and commons under European law and ethics, which prohibits much of what plagues Jewish law and ethics: externalization of, and construction of, profits from risk by baiting into hazard, preference for it over productivity, despite the antagonism it produces over time, especially for the little people.
WHAT’S MISSING
The left side should start with Time. I base my work on the first principle of time (entropy). So all capital, and all capital in the form of commodities serves as a store of time, and all cooperation results in savings of time.
“So we are not wealthier than cave men we have made everything infinitely cheaper.”
Source date (UTC): 2023-02-17 18:01:11 UTC
Original post: https://twitter.com/i/web/status/1626642932093558786
That’s not backed, that’s demanded. Easily confused, but not the same.
Source date (UTC): 2023-02-17 17:36:00 UTC
Original post: https://twitter.com/i/web/status/1626636597452996620
Reply addressees: @whitesadvocate
Replying to: https://twitter.com/i/web/status/1626628705186349056
Correct. Though, governments can cause BTC price to collapse to zero and use regulated out of existence for anything other than criminal activity.
Source date (UTC): 2023-02-15 11:39:16 UTC
Original post: https://twitter.com/i/web/status/1625822044708274179
Reply addressees: @BasedLawyer
Replying to: https://twitter.com/i/web/status/1625805426263572481
Q: “WHAT’S YOUR CURRENT OPINION ON BITCOIN?”
1) a BTC is a “Share of stock in the BTC network”. Knowing that it’s a share in the BTC network helps you understand what it is – everything else is what someone claims it is. It is dependent on that network. It is not backed by anything but demand. It is not insured by anyone or anything – and can’t be. It can fluctuate as any other stock, the network can drive the price to zero, with zero demand (the equivalent of bankruptcy).
2) the goal was to make these shares useful substitutes for monetary transactions. In this case, then those shares function as what’s called “Token Money Substitutes”. (Like buying tickets for rides at a carnival)
3) IT hasn’t resulted in that outcome for the simple reason that user interface limitations, transaction response time, and limited acceptance because of limited demand, haven’t provided enough incentives.
4) As a consequence BTC has filled a more traditional role as a stock, and store of value, in the hopes that developers will solve the technical problems above.
5) Is this technology an innovation? Let’s disambiguate whether it’s a novel technology, and one that’s a novel innovation that survives in the marketplace. That judgment depends on answering whether it’s not just better to fund a distributed data store under traditional transaction processing, able to handle high volume transactions, using encryption but without proof of work or stake. It’s rather easy to design and program that system with current technology, and ride on the existing networking protocols without any bank intervention.
6) The criticism of this approach is that it requires a corporation, investors, etc. But how is that different from BTC? I invested in a company that monitored who processed what transactions and predicted who would process the next one or two or three etc, and it became obvious that for all intents and purposes, the system was always fighting to not evolve into a cartel.
8) But compare that to BTC: (a) The power consumption problem is absurd. (b) The alternative proof of stake is absurd (c) The absence of an insurer of last resort is absurd. (d) AFAIK we’re doing research and development for the State’s development of a digital currency which will subject us to even greater manipulation than ‘social credit’ scores. (e) And the pretense that the state can’t either shut down BTC, declare a 30 day price to convert BTC into FEDCOIN before prohibiting it, or prosecuting it into something used only by criminals, is equally absurd.
9) So, I’ve had the same opinion for almost ten years: (a) The only long-term value of BTC is the experiment with whether the public will tolerate a digital currency – that test succeeded. (b) But the technology stack has failed to solve the problem of concurrency, volume, insurability, and restitutability. (c) So the result will be a hybrid model of encryption, the ledger, and a privately held, distributed high-performance network OR the state equivalent OR both.
10) Now, there are a lot of people who will agree with me but if you understand the fundamental problems, then the only possible solution is serialization in a distributed network, that is insured, restitutable, reversible, fast, and so integrated into the economy that we can’t do without it. IMO it also requires protective LEGISLATION.
11) I’m bullish only for circumventing the banking system for cost-free transfers of title whether that title be to assets of monetary substitutes, or assets of financial instruments, or assets in the real world.
12) And my primary interest is making it so the poor have cost-free access to digital banking, borrowing, and redistribution if destitute. The rest of us will do just fine.
13) I haven’t been wrong. I’m not often wrong. I don’t think I’ll be wrong. Because I don’t think I CAN be wrong. That doesn’t mean BTC won’t survive. It only means BTC is very likely BETAMAX or CDROM while we wait for VHS or Flash Drives.
Source date (UTC): 2023-02-15 02:53:35 UTC
Original post: https://twitter.com/i/web/status/1625689750953664513
Spent the evening reviewing January in the BLS Data and learned nothing that isn’t obvious. “Demographics in everything” is the most important concept in economics that is still disconnected from the performance data. And IMO it’s due to intentional obfuscation by the left.
Source date (UTC): 2023-02-12 01:37:39 UTC
Original post: https://twitter.com/i/web/status/1624583478393114625