Curt Doolittle

Category: Economics, Finance, and Political Economy

  • How did who kill the service industry? The virus killed it. It’s the most fragil

    How did who kill the service industry? The virus killed it. It’s the most fragile industry.
    Lefties won’t come right. They will come against the parasitic financial sector and the state, and in favor of most of our solutions.
    Where we must separate is in globalism vs nationalism.

    Source date (UTC): 2020-03-30 01:15:46 UTC

    Original post: https://twitter.com/i/web/status/1244433101348057091

    Reply addressees: @EricLiford @ArthurHolmberg

    Replying to: https://twitter.com/i/web/status/1244432520453767168

  • Ok. So using civilizational development, demographic, generational, technologica

    Ok. So using civilizational development, demographic, generational, technological, and business cycles I’ve been within a month or two of every major correction (opportunity exhaustion) since I started working (except china). Market timing is impossible. But Antifragility is NOT.

    Source date (UTC): 2020-03-29 15:22:46 UTC

    Original post: https://twitter.com/i/web/status/1244283868154408962

  • You say that like it’s a bad thing rather than the correct thing to do. “Equalit

    You say that like it’s a bad thing rather than the correct thing to do. “Equality” is a means of directing resources to care rather than consumption. But this isn’t a matter of consumption but of survival of human capital. If you say otherwise you’re unfit for public speech.

    Source date (UTC): 2020-03-29 15:19:17 UTC

    Original post: https://twitter.com/i/web/status/1244282992148783107

    Reply addressees: @HeerJeet

    Replying to: https://twitter.com/i/web/status/1243734982419337216

  • IE: QUESTIONS: 1-So agreed. Shock is huge. But does that mean that recovery is f

    IE: QUESTIONS: 1-So agreed. Shock is huge. But does that mean that recovery is front loaded? In other words, why isn’t it possible to restore demand? Sure, we’re going to lose zombie companies. But given the health curve why not a faster recovery? 2-Repatriation of Industry?

    Source date (UTC): 2020-03-29 15:02:11 UTC

    Original post: https://twitter.com/i/web/status/1244278689619161088

    Reply addressees: @IronEconomist

    Replying to: https://twitter.com/i/web/status/1243870334178263040

  • CORRECTION: When left to practical monopolies, not the private sector. The gover

    CORRECTION: When left to practical monopolies, not the private sector. The government’s role is to prevent practical monopolies and maintain fault tolerant supply chains in strategic industries (no one cares about ferraris).

    The government has failed to maintain the MARKET.

    Source date (UTC): 2020-03-29 14:32:51 UTC

    Original post: https://twitter.com/i/web/status/1244271305987366913

    Reply addressees: @jbsgreenberg @nkulish @sarahkliff

    Replying to: https://twitter.com/i/web/status/1244211916773474309

  • “Boomers hate crypto for some reason even though crypto still seems more real th

    —“Boomers hate crypto for some reason even though crypto still seems more real than printing infinity money.”—Avin Welleci

    Fiat Currency or “Infinity” money (share-in-economy money) is a competitive necessity. We can’t survive in a world economy without it. And we certainly can’t insure one another against disasters without it.

    Special Fiat Currency such as Food Stamp Money is extremely useful. There is no reason we don’t add ‘utility money, housing money’ as well.

    Conversely, Crypto money (token money) is a means of saving.

    And commodity money an even more fault tolerant means of saving – albeit a costly one.

    They all have their roles.

    I suspect it’s not occurring to you that the central issue is having one currency rather than multiple.

    Fiat Housing < Fiat Utility < Fiat Food < Fiat General < Digital Savings < Gold(commodity money). There is too little gold to serve as commodity money. Oil is too variable for commodity money. It’s possible to crate a basket of commodity money, from all the precious metals.

    My argument was that (a) crypto cannot serve as money substitute given current tech and costs of computing, (b) that self hosted crypto means the network is institutionally fragile (c) that a monolithic transaction system is faster, less fragile, and unassailable by the state. (d) the state will not tolerate the us of it for the reasons it was invented: drug money.

    Don’t assume boomer means bias (I’m a jones generation by the way – between boomers and x’s – like bill gates, steve jobs) It might mean (as it does in this case) i know more than you do. ’cause I do. 😉

    Source date (UTC): 2020-03-29 12:34:00 UTC

  • Ok. So using civilizational development, demographic, generational, technologica

    Ok. So using civilizational development, demographic, generational, technological, and business cycles I’ve been within a month or two of every major correction (opportunity exhaustion) since I started working (except china). Market timing is impossible. But Antifragility is NOT.

    Source date (UTC): 2020-03-29 11:32:00 UTC

  • DENIAL OR HOPE? 😉 —“It’s amazing how few people have really internalised what

    DENIAL OR HOPE? 😉

    —“It’s amazing how few people have really internalised what is coming in the next month. Especially in the US. Not the human damage or the economic damage that is coming.”– Iron Economist

    — “I’m pretty terrified but I think people many people are in a state of hopeful denial”-JayMan @JayMan471

    I’m not in hopeful denial.

    I’m just hopeful that the false promise of the 20th is over.

    The century of utopian pseudoscience, sophistry, and darwinian-denial is done.

    It may be an ‘expensive correction’. But it’s better than the alternatives.

    Source date (UTC): 2020-03-29 11:08:00 UTC

  • FEEDBACK; It is far more under control than it appears. The people who will suff

    FEEDBACK;

    It is far more under control than it appears. The people who will suffer most are the health care workers who will be devastated by the next few months. Small business will collapse. Fragile large businesses will fail. The very largest will survive and the entire economy will be healthier with fewer stronger companies. We will clear the economy of zombie companies in a way Americans can but Japanese and Chinese wont. Unemployment will be high, but the government will spare no expense in repairing that on a postwar scale – something younger generations haven’t experienced. I know how to do it. I assume others in the government know if I do.

    Expect the election period to be about how to do that.

    If this gets much worse then we may have to take initiative in framing that debate.

    The left will take the other frame.

    We may be able to drive the conversation a bit.

    I may have to change my lifestyle to make it happen.

    Source date (UTC): 2020-03-28 16:53:00 UTC

  • NO WE CANNOT RETURN TO COMMODITY MONEY A return to commodity money can’t be done

    NO WE CANNOT RETURN TO COMMODITY MONEY

    A return to commodity money can’t be done. It privileges investors at the expense of ordinary people, and managing the supply of money is too valuable for an economy. No economy can compete without it. And there are other vehicles for storing capital – including commodity money, real estate, commodities (how oil functions today). Commodity Money has value external to it being used as money. Currency only has value as commodity money substitute. Asking a country not to use currency (shares of stock in the economy) is as ridiculous as telling companies that they can’t issue public shares of stock, nor release additional shares of stock. Like all things, libertarian ideas were attempts to westernize jewish diasporic ethics of the pale that depended upon specializing in extractive usury, and using the proceeds to construct rent seeking, and baiting into hazard.

    (Falsification of Libertarian Dogma: “What right do you have to the appreciation of the purchasing power of a currency without contributing to the production of that value?” And “What right do you have to the preservation of the purchasing power of a currency?” And “Why does an lender have right to price stability at the expense of the rest of the marketplace?” Those are the three demands that drive the (((usury))) philosophy we call’ libertarianism.)

    Source date (UTC): 2020-03-28 08:01:00 UTC