Facebook Posts on economics-2022

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Income inequality moves from Silicon Valley and Beverly 2022-07-31 11 - economics
Banks used to over-leverage all the time. The 2022-06-17 13 - 1 economics
Best argument for regional federalism? 2022-06-15 10 1 economics
There's no there there! The present value of future 2022-06-03 17 - 1 economics
Crypto markets tank - 2022-05-12 13 - 1 economics
Think gas prices are bad? Wait until food and 2022-03-21 6 - 1 economics
If GOP were running the show, they'd remember that the 2022-01-07 3 - economics
Biden tackles meat prices. 2022-01-05 7 1 economics

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UPDATED Wed Aug 10 07:55:20 PDT 2022

==========


Income inequality moves from Silicon Valley and Beverly
Hills to Sun Valley.      So much for lower living costs
in Idaho!

 https://www.nytimes.com/2022/07/31/us/sun-valley-workforce-housing.html

People who can't afford to live near the rich should just
move away to places where they can afford to live on what
they earn.    Let the idle rich clean their own toilets
and do their own landscaping.     It will be educational
for them.

#PS1economics

=====

impact 0
impactrate 0
negative 0
posted 2022-07-31
reactrate 0
sharesrate 0
title Income inequality moves from Silicon Valley and Beverly
topic economics
wordrate 2
words 65
ID 1721318604879318
URL https://www.facebook.com/politicalscrapbooknet/posts/1721318604879318
impress 12
likeuimpress 4
likeuusers 4
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oreach 11
posted "07/31/2022 08:21:01 PM"
reach 11
type Link

==========


Banks used to over-leverage all the time.  The
Glass-Steagall Act kept a lid on them from 1933 to 1999.

 https://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_legislation

But the wild west lives again - until it doesn't.

 https://www.nytimes.com/2022/06/17/technology/tether-stablecoin-cryptocurrency.html

Ultimately, it will be about being over-leveraged to get
higher returns.     Every tech investor expects to be an
instant billionaire!      So even stablecoins can't really
redeem all their coins overnight because they don't keep
their assets in cash available overnight - because as
every saver knows, the rate of return won't make anybody
a billionaire.   It'll hardly pay to keep the computers
running to keep track of it all.

So they invest in other things that are less liquid,
higher risk, and higher yield.      When savings and
loans did that under Reagan in the 1980's, many failed and
their depositors were bailed out - by taxpayers of course.
Even worse when regular banks did the same under Bush in
the 2000's.

The difference with crypto is that there is no federal
deposit insurance.       The taxpayers will not bail out
the speculators.     Good news for taxpayers, bad news
for speculators.

Why would everybody want to bail out of crypto overnight?
Mass psychology in a down market - margin calls in one
kind of investment lead to panic selling in other kinds.
You never want to be the last person in line at a bank run.

#PS1economics

=====

impact 22
impactrate 0
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posted 2022-06-17
ratio 13
react 1
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sumclicks 1
title Banks used to over-leverage all the time. The
topic economics
wordrate 1
words 224
ID 1688784804799365
URL https://www.facebook.com/politicalscrapbooknet/posts/1688784804799365
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oreach 13
posted "06/17/2022 10:46:55 AM"
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reach 13
type Link

==========


Best argument for regional federalism?

 https://www.political-scrapbook.net/2020-regional.html

Most swing voters vote their pocketbooks.    They reject
the guys in charge without understanding whether the other
guys could do any better, and also without understanding
what OTHER things the other guys would do.

 https://www.washingtonpost.com/opinions/2022/06/15/inflation-anger-could-sweep-election-deniers-midterm-victory/

Economics is complicated because,  like politics, it's
a large part mass psychology and a small part rational
logical inquiry.   Cause and effect is easy to claim and
hard to prove.

#PS1economics

=====

impact 7
impactrate 0
likeimpress 1
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posted 2022-06-15
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title Best argument for regional federalism?
topic economics
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posted "06/15/2022 09:10:32 PM"
reach 10
type Link
URL https://www.facebook.com/politicalscrapbooknet/posts/1687648944912951

==========


There's no there there!     The present value of future
crypto dividends is... zero.      The only hope for profit
is to find a bigger fool than you who will pay more than
you paid.       As always, there are way more losers
than winners.

 https://www.washingtonpost.com/business/2022/06/03/crypto-scams-ftc/

 https://www.washingtonpost.com/business/2022/06/03/crypto-skeptics-growing/

#PS1economics

=====

impact 4
impactrate 0
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posted 2022-06-03
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title There's no there there! The present value of future
topic economics
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ID 1679191352425377
URL https://www.facebook.com/politicalscrapbooknet/posts/1679191352425377
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posted "06/03/2022 03:48:43 PM"
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reach 17
type Link

==========


Crypto markets tank -

 https://www.cnn.com/2022/05/12/investing/luna-terra-stablecoin-explained/index.html

Even as crypto CEO's and investors spread cash far and
wide in DC.

 https://apnews.com/article/cryptocurrency-technology-congress-b93f1f2dc4971a16af8133e24ebd9bb5

So far crypto is mainly useful for criminals and scammers.
Algorithmic stablecoins are definitely not the answer.
Other stablecoins aren't either - the only way to get
internet kinds of return running a stablecoin operastion is
by keeping deposits in risky investments.  But there's no
difference between a real bank run and a crypto bank run.

#PS1economics

=====

impact 7
impactrate 0
negative 0
posted 2022-05-12
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react 1
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sumclicks 1
title Crypto markets tank -
topic economics
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URL https://www.facebook.com/politicalscrapbooknet/posts/1662969827380863
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posted "05/12/2022 04:26:37 PM"
postlinkclicks 1
reach 13
type Link

==========


Think gas prices are bad?     Wait until food and
fertilizer shortages sink in.

 https://apnews.com/article/russia-ukraine-business-canada-lifestyle-middle-east-1c8918d4734f0974eefe09121d2090ed

No quick fix - increasing global drought due to climate
change, rising prices for fuel and fertilizer, yet
no guarantee that today's high prices will last long
enough to justify changes in farming.     Farmers are a
conservative bunch.

The population carrying capacity of the earth depends on
global trade and stable global climate.        Both are
victims of war - big countries want to protect themselves
by making sure all critical raw materials and manufacturing
are done domestically.     That means changing sources from
the low-cost producer to the low-risk producer.  And better
to burn your own dirty coal than import fuel from unstable
global markets.       Burning coal contributes to climate
change and drought.

 https://economictimes.indiatimes.com/news/international/world-news/ukraine-war-threatens-to-cause-a-global-food-crisis/articleshow/90349465.cms

#PS1economics

=====

impact 13
impactrate 0
negative 0
posted 2022-03-21
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title Think gas prices are bad? Wait until food and
topic economics
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posted "03/21/2022 07:00:35 PM"
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type Link
URL https://www.facebook.com/politicalscrapbooknet/posts/1625455817798931

==========


If GOP were running the show, they'd remember that the
free market will solve all economy problems - eventually.
But as long as they're out of power, they're free to
criticize the Democrats for not solving problems quickly.

 https://apnews.com/article/coronavirus-pandemic-joe-biden-business-health-elections-7b9a7d40c53f94504f2bcec7e22d7cb0

When GOP returns to power, it can return to its traditional
stance of expediting relief to those who deserve it
(because they are major donors) rather than those who need
it, who are too poor to donate.     Socialism for the rich,
free enterprise for the poor - it was ever thus.

#PS1economics

=====

impact 0
impactrate 0
negative 0
posted 2022-01-07
reactrate 0
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title If GOP were running the show, they'd remember that the
topic economics
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posted "01/07/2022 12:21:21 PM"
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URL https://www.facebook.com/politicalscrapbooknet/posts/1575793969431783

==========


Biden tackles meat prices.

 https://apnews.com/article/joe-biden-lifestyle-business-prices-inflation-78335dba9802d7eb727744301d4489df

Standard out-of-power GOP response is to let the free
market solve the problem.       Free markets won't solve
the problems of unfree markets due to market concentration
- which is inherently harmful even if no laws are broken.
And when it can work, the free market is too slow in an
election year - as Trump demonstrated repeatedly, holding
photo-ops promising to help struggling industries and
then doing nothing.   The photo-op was the solution to
his problem.

Biden can't really make much progress against economic
concentration without help from Congress - which GOP has
vowed to withhold, especially in an election year in which
their success depends on the economy being in as bad a
shape as possible.

#PS1economics

=====

impact 12
impactrate 0
likeimpress 1
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posted 2022-01-05
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title Biden tackles meat prices.
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ID 1574403442904169
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posted "01/05/2022 09:00:41 AM"
reach 7
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URL https://www.facebook.com/politicalscrapbooknet/posts/1574403442904169