CodyyyGardner Categories Economy
https://t.co/fa3GX9VnW0
Innocuous 1 sentence, but its a full economic theory at play.
Let me break it down for you. (1/n)
91 day TBills at 3.03%. Interest rates are even lower than RBI has them.
— Deepak Shenoy (@deepakshenoy) January 6, 2021
On September 30, 2020, I wrote an article for @CFASocietyIndia where I explained that RBI is all set to lose its ability to set interest rates if it continues to fiddle with the exchange rate (2/n)
What do I mean, "fiddle with the exchange rate"?
In essence, if RBI opts and continues to manage exchange rate, then that is "fiddling with the exchange rate"
RBI has done that in the past and has restarted it in 2020 - very explicitly. (3/n)
First in March 2020, it opened a Dollar/INR swap of $2B with far leg to be unwound in September 2020.
Implying INR will be bought from the open markets in order to prevent INR from falling vis a vis USD (4/n)
The Second aspect is now, that dollar inflow is happening, and the forex reserves swelled -> implying the rupee is appreciating, RBI again intervened from September, by selling INR in spot markets. (5/n)
https://t.co/9kpWP7ovyM
Surprised so many smart people bought into the idea that $600/wk UI is the same as $600/wk job guarantee (or better) or that JG jobs must be inherently inessential. I\u2019ve addressed this many times & will post a thread later. Trying not to spend precious family time on Twitter.
— Pavlina R Tcherneva (@ptcherneva) December 29, 2020
Automatic stabilization: Both $600/wk UI and JG will provide counter cyclical spending. But UI will be weaker. Counter-cyclical stabilization is not just about the absence of income. It is also about the transmission and structure of economy
Firms don't like to hire the unemployed. Mass and long-term unemployment make the problem worse. JG would recover labor markets much faster than a UI of the same amount, both b/c of the higher direct, induced & tertiary employment effects & b/c of private firm hiring preferences.
JG stabilizes spending patterns better. Uncertain job prospects may mean more cautious spending from the unemployed compared to those w/ guaranteed jobs.
UI is temporary, which makes matters worse. Even if it were permanent, it still won't resolve the problem of job scarcity.
Nations who once achieved tight full employment through active labor market policies demonstrate that unemployment does NOT fluctuate the same way it does w/o them. Direct employment, ELR type policies diminish drastically/even eliminate these amplitudes (eg postwar Japan/Sweden)
The great replacement isn't a conspiracy theory, it is the inevitable outcome of non-stop immigration of populations whom do not wish to assimilate and have way higher birth rates than the native population... It's purely a mathematical reality.
— Angelo John Gage (@AngeloJohnGage) December 30, 2020
2. "ThE gReAt rEplAcEMeNt iS A cOnSpiRaCy tHEorY"
3. "ThE gReAt rEplAcEMeNt iS A cOnSpiRaCy tHEorY"
4. "ThE gReAt rEplAcEMeNt iS A cOnSpiRaCy tHEorY"
5. "ThE gReAt rEplAcEMeNt iS A cOnSpiRaCy tHEorY"
"The fourth industrial revolution - it's a fusion of the physical, the digital & the biological world. It's changing not only what we are doing, it's changing who we are."
- Klaus Schwab, founder of World Economic Forum
#GreatReset
Schwab: "The speed is mind boggling. What I'm particularly concerned about, is how little the world is prepared."
Satya Nadella, #Mircosoft: "It's really the notion of digital technology pervasively impacting every walk of life & every [] industry, in all parts of the globe."
"A Cloud for Global Good"
"Tech for Good"
"Responsible AI"
Holistic linguistics. Marketing terms. Branding content.
Lies packaged as beautiful illusions:
https://t.co/D2MV9o9Aws
"Harnessing this revolution requires the involvements of all #stakeholders. From #public & private sectors, to #academia & civil society."
March 2019: 4 centers: US, India, Japan, China. Present: affiliate centers (currently 9), to form a global network, will roll out at scale.
Sept 24, 2019: Aker group & WEF announced establishment of the Centre for the Fourth Industrial Revolution #Norway (#C4IRNorway). The Centre officially opened Jan. 1, 2020.
One area of focus will be #ocean #mining, #deepseamining.
Website:
I wanted to wrap up the year by writing about something I have been thinking about for the last few months:
Who owns the best businesses in the world?
I am trying to draw a line from inherited wealth of feudal lords to community-owned services with tokens.
The last 1,000 years can be roughly split into two 500-year chunks: feudalism & capitalism. Feudal lords controlled all of the land, farms, buildings and capital. This was passed down inside families and never distributed to the workers.
Capitalism totally changed that.
Risk, reward and ruin were separated when joint-stock companies became more common. The prerequisite for successful entrepreneurship shifted from inheritance to initiative.
People without wealth could access it and start new ventures.
Founders started founding new companies.
Equity compensation kicked off in the 1950s but it really went into overdrive when it was mixed with high-growth technology companies backed with high-risk equity bets. Silicon Valley perfected the art. Employees at many of the most successful technology companies became owners.
The SEC did two huge things this year. They raised the crowdfunding limit to $5m and introduced a proposal to allow gig workers to receive stock.
I predict that we will see competitors to Airbnb, Uber and DoorDash all take advantage of this
SEC: proposed pilot program to allow tech companies to pay gig workers up to 15% of their annual compensation in equity rather than cash https://t.co/EJjLWQatcr
— Jesse Walden (@jessewldn) November 24, 2020