And for this who forgot Trump himself signed the first two CARE acts which also pumped a lot of money into the economy. Remember those checks that Trump personally signed that he sent out in Spring of 2020.
https://finance.yahoo.com/news/fed-seen-cutting-policy-rate-124332256.html?fr=sycsrp_catchall Fed will meet next Tue and Wed; expect a 1/4 pt rate cut announcement on Wed
altho 1/4 pt cut has been baked in in the wake of the recent weakening labor trend, The former NY Fed chief Dudley sees a strong case to front-load a 50bp rate cut
the Russian bot CircleTheDrain has been programmed to ignore these facts Tesla was originally funded by President Obama's Government Subsidies, in the form of a $465 million loan by his DOE in 2010 Elon Musk's SpaceX and Tesla, in 2013 alone, received $13.B government money
It takes dozens of hours to even get started understanding it, but this is the best video I've seen as a jumping off point for people that are curious: If you want to get more technical/nuanced, this is a great series of short vids that cover a variety of beginner to intermediate questions: And if you want to get more philosophical/political about it, this is a good series of long form discussions:
Thanks - unfortunately, my attention span is very short - any "cliff notes" version? What is your personal opinion on Bitcoin?
Sorry. There is no shortcut. You have to put in the time to understand what money is, what bitcoin is, and what bad money does to societies. If you're a book person, Broken Money by Lyn Alden is a great starting point as is The Bitcoin Standard.
Thanks - just asked ChatGPT for summaries lol. Yeah, I'm lazy. *Broken Money: Why Our Financial System is Failing Us and How We Can Make It Better* by Lyn Alden explores the evolution of money, the systemic problems within today’s financial systems, and possible solutions for the future. Alden examines money from its origins, such as Mesopotamian clay tablets and commodity currencies like gold, through to the modern-day complexities of central banking and cryptocurrencies. Alden's thesis is that the global financial system is "broken," as shown by inflation crises, such as Lebanon’s in 2022, and the rise of populism in response to outdated financial systems. She uses historical case studies, like the development of ancient ledgers and commodity money, to illustrate how technological innovations have driven change in monetary systems. Today’s financial landscape, she argues, is highly fragmented, with over 1,600 fiat currencies that are susceptible to devaluation, inflation, and volatility. A major theme of the book is the role of technology in shaping the future of money, including decentralized digital currencies like Bitcoin and government-backed central bank digital currencies (CBDCs). Alden posits that future monetary systems may blend aspects of traditional hard money like gold with modern, decentralized ledger systems, potentially leading to more financial independence for individuals. The book also delves into how our current monetary structures impact personal freedoms, pointing out that centralized financial control often diminishes individual financial autonomy. Alden advocates for a rethinking of our financial frameworks, offering insights into how technology, particularly blockchain, might reshape the future of finance. For anyone interested in economics, finance, or the evolution of money, Alden’s *Broken Money* offers a detailed, comprehensive, and accessible exploration of where money has been and where it might be headed next. --------- *The Bitcoin Standard* by Saifedean Ammous explores the history of money and the potential of Bitcoin as a solution to the flaws in today's monetary systems. Ammous traces the evolution of money from commodities like gold to fiat currencies and argues that Bitcoin could become the new global standard, similar to how gold functioned in the past. Key themes in the book include: 1. **Problems with Fiat Money**: Ammous criticizes fiat currencies, which are controlled by governments and central banks, for being prone to inflation and economic instability. He argues that fiat money leads to a "high time preference" society where people are incentivized to spend rather than save, harming long-term economic growth. 2. **Bitcoin as Sound Money**: Ammous posits that Bitcoin’s fixed supply of 21 million coins and decentralized nature make it a superior form of "sound money," which protects value over time and promotes saving and investment. He contrasts this with the inflationary tendencies of fiat money, which erodes purchasing power. 3. **Bitcoin's Role in the Global Economy**: Ammous envisions a future where Bitcoin could act as a global reserve currency, much like gold did in the 19th century. He discusses Bitcoin’s potential to offer financial sovereignty, protect against government interference, and serve as a hedge against inflation. 4. **Economic and Social Implications**: The book also examines Bitcoin’s potential to disrupt traditional financial systems by providing a decentralized alternative that could empower individuals, particularly in places with unstable currencies or authoritarian regimes. While Ammous sees Bitcoin as having great promise, he acknowledges challenges, such as its volatility and limited transaction speed, which might hinder its use for everyday transactions. Overall, *The Bitcoin Standard* provides a compelling argument for why Bitcoin might be the next step in the evolution of money, offering a decentralized and secure alternative to the current system dominated by fiat currencies. -------- Might read the whole thing. Thanks.
So inflation keeps dropping and now at 2.5% people still saying Biden and liberals cause crazy inflation. Then how is it down to 2.5%?
You should add pros/cons and areas that are debated/disputed in the prompt to steelman the summary a bit
Reuters - clearly a Russian bot. https://www.reuters.com/markets/us/...gust,Biden's student loan forgiveness program.
