Another insightful read Frank! Your question about taxes and govt debt always brings me to Stefanie Kelton's work on MMT. I'm not sure whether or not her position is correct (I do believe MMT currently describes our existing system) but watching her thesis play out in the upcoming decades will be one of the major stories. How crazy will it be to realize that we suffered unnecessarily for generations?
You've told me about her. I just made a note. I have to read her work! It would be insane to realize that we didn't have to have so many people suffering. I truly wonder if that can be alleviated on a broader scale with MMT.
The Fear & Greed index seems to show a lot of extreme fear at the moment, and I do hope that retail investors have enough cash to last them for a bit and are therefore not going to panic sell anything. I also hope that retail people are trying to familiarize themselves with technical analysis - there are lots of good quality free TA tutorials on YouTube. I actually don't like 'trading' myself, but I find the understanding of TA to whatever degree very stress-relieving in this highly volatile market.
With regards to the printing of money, Ran (Crypto Banter) recently asked Raoul Paul if he thought the governments could have done something better. Raoul said no. I think Raoul has argued that governments must avoid the liquidation phase at all possible costs, and that would make sense to me.
Tax is tough - I remembered when I was more or less spit on for concluding from study that recreational drugs and prostitution should not only be legal but also not taxed, as it would be regressive. Sometimes results seem counter-intuitive, and I'm not sure that I've seen any evidence that the capital gains tax proposals are much more regressive than the existing situation. I would hope that people making less than $40,000 in short-term capital gains would not have to pay tax as with (my understanding) long-term capital gains. That would really be great if they would not tax little guys. The bigger picture seems a much more complicated situation regarding tax.
I believe that crony capitalism does and has existed for a really long time. Though, it has seemed to me to be rather feudal, and I would agree with those who think the term 'neoliberal' is too vague and monolithic - and as some Marxists have stated, I agree that it seems that term also removes capitalism itself from scrutiny.
Hope people will stay nice and relaxed out there and enjoy any long downtrend or sideways trend. Good time to buy stuff, especially if things drop big again. Horrible time to sell unless you are unable to pay bills.
Another insightful read Frank! Your question about taxes and govt debt always brings me to Stefanie Kelton's work on MMT. I'm not sure whether or not her position is correct (I do believe MMT currently describes our existing system) but watching her thesis play out in the upcoming decades will be one of the major stories. How crazy will it be to realize that we suffered unnecessarily for generations?
You've told me about her. I just made a note. I have to read her work! It would be insane to realize that we didn't have to have so many people suffering. I truly wonder if that can be alleviated on a broader scale with MMT.
Thanks, Frank. Great read.
The Fear & Greed index seems to show a lot of extreme fear at the moment, and I do hope that retail investors have enough cash to last them for a bit and are therefore not going to panic sell anything. I also hope that retail people are trying to familiarize themselves with technical analysis - there are lots of good quality free TA tutorials on YouTube. I actually don't like 'trading' myself, but I find the understanding of TA to whatever degree very stress-relieving in this highly volatile market.
With regards to the printing of money, Ran (Crypto Banter) recently asked Raoul Paul if he thought the governments could have done something better. Raoul said no. I think Raoul has argued that governments must avoid the liquidation phase at all possible costs, and that would make sense to me.
Tax is tough - I remembered when I was more or less spit on for concluding from study that recreational drugs and prostitution should not only be legal but also not taxed, as it would be regressive. Sometimes results seem counter-intuitive, and I'm not sure that I've seen any evidence that the capital gains tax proposals are much more regressive than the existing situation. I would hope that people making less than $40,000 in short-term capital gains would not have to pay tax as with (my understanding) long-term capital gains. That would really be great if they would not tax little guys. The bigger picture seems a much more complicated situation regarding tax.
I believe that crony capitalism does and has existed for a really long time. Though, it has seemed to me to be rather feudal, and I would agree with those who think the term 'neoliberal' is too vague and monolithic - and as some Marxists have stated, I agree that it seems that term also removes capitalism itself from scrutiny.
Hope people will stay nice and relaxed out there and enjoy any long downtrend or sideways trend. Good time to buy stuff, especially if things drop big again. Horrible time to sell unless you are unable to pay bills.