IMF, China saving. Social security almost 1/3 OECD average, gov health spend less than 1/2
Econs complain about US saving less than China. They wanna cut boomers social security & Medicare 2 China levels? Kinda doubt
Zuck, “Everyone else is focused on more knowledge work automation type cases, we’re much more focused on personal empowerment”
Learned to talk better than Sammy & Dario
Pitt, America is a business, now pay me
Gotta love that the critics miss that Pitt parodied W & O by showing the mob as more trusted since it punished bad actors while W and O did not.
Nobel Heckman, Bayesian statistics elevated to science, but it’s not science, it’s a descriptive too
Yep. Like the models that open AI & Anthropic use
Pinker, “reason can make us more moral”
His hero’s Kant and Mill thot mankind’s history showed no reason to believe peeps would become more moral. And thot that hope was basically a secular religion
BIS, total debt to GDP, France 324%, Canada 315%, Sweden 263%, Greece 245%, Italy 232%, Germany 196%
Last EU debt crunch, Northern Europe squeezed Italy & Greece
$. Reminder, last year, $ was as overvalued to unit labor costs as before the Reagan devaluation achieved by doing 100% tariffs and threatening worse
@FinEconGlobal this is what I meant about unit labor costs compared to prior devaluations
Xi. WSJ finally picks up on Xi leaning on wife. But no observation on him wearing bulletproof vest in China. But not elsewhere like Brazil
META, gotta love somebody naming AI bonds beignet
That is a French donut. Can’t say peeps weren’t warned of the risk
GMO, Fed, new third mandate “managing distribution of credit”
Narrator, queue @sidprabhu ‘s meme of central control of economy
Anthropic’s deep ties to bank man fried’s effective altruism.
Dario, ❤️ effective altruism peeps 2 supervise AI. Channeling Xi. Effective altruists & Xi reject democracy in favor of technocrats as “enlightened autocrats”
Chase Manhattan head, no CB may safely expand balance sheet “unless it is certain of its determination & ability bring about contraction when circumstances requires”
JPM chair market strat, surprised NY mayor’s dude said, “necessary to impoverish the white middle class”
Nothing new, bigly progs have said “F the middle class, we help the poor”
