PUBLIC DEBT HYSTERIA IN ITALY š®š¹
Each passing day, I'm more and more astounded at the hysteria surrounding public debt in Italy. This hysteria has country-specific peculiarities. In Italy it's somehow different from the US, the UK or Germany. 1/18
This means that the mkt for gov't bonds is controlled by a public authority:it's what usually occurs(and should occur) in every well-functioning modern economy(and democracy) 5/18
"Public debt is bad! It needs to be repaid! It's a burden on future generations!" FALSE
6/18
Blanchard: https://t.co/XlmW8kdJ70
Sheard: https://t.co/cAuYmyY0A4
Buffett: https://t.co/9WgTO7HVPX 8/18
https://t.co/BHdDT1d8oC
Politicians, economists and the media have been using distorted images of Italy and the Italian economy. How do we reduce these distortions? Niki Kowall and I make an attempt by writing about seven ("surprising") facts about Italy's economy. A thread: /1https://t.co/45xCF4xmVh pic.twitter.com/izjOGGIaOE
— Philipp Heimberger (@heimbergecon) June 25, 2020
https://t.co/ObFrc8JN6k
Italy has a long record of accepting EU laws against its national interest, like fiscal compact. Now it opposes a good reform - the ESM backstop to the resolution fund. - https://t.co/VKWTz4IeXi
— Wolfgang Munchau (@EuroBriefing) December 5, 2019
More from Society
1/OK, data mystery time.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
The Nashville Operation - A Battle in the War
A thread exploring the Nashville bombing in the context of the 2020 Digital War (via SolarWinds) against the United States perpetrated by our enemies, likely China, Iran and/or Russia.
SolarWinds Hack
A digital "Pearl Harbor" moment for the United States, whoever was responsible had access to the keys to the kingdom for months during 2020, including sensitive military infrastructure. This is war!
SunGard + SolarWinds
SolarWinds software company is owned by same company that owns SunGard, which essentially provides data center services. A secure place to host internet servers with redundant power and "big pipe" data connections.
https://t.co/U3P3SrrkM1
SunGard Data Center
In Nashville, around the corner from their "big pipe" connection, AT&T. Like any data center, highly secure. Only authorized personnel can enter, and even fewer can access the actual server rooms. Backup generators are available in case of power failure.
If the SunGard hardware was being used to "host" critical command and control software related to SolarWinds, the US powers would be very interested in gaining special access keys that are stored on the hard-drives of specific servers.
A thread exploring the Nashville bombing in the context of the 2020 Digital War (via SolarWinds) against the United States perpetrated by our enemies, likely China, Iran and/or Russia.
SolarWinds Hack
A digital "Pearl Harbor" moment for the United States, whoever was responsible had access to the keys to the kingdom for months during 2020, including sensitive military infrastructure. This is war!
SunGard + SolarWinds
SolarWinds software company is owned by same company that owns SunGard, which essentially provides data center services. A secure place to host internet servers with redundant power and "big pipe" data connections.
https://t.co/U3P3SrrkM1
SunGard Data Center
In Nashville, around the corner from their "big pipe" connection, AT&T. Like any data center, highly secure. Only authorized personnel can enter, and even fewer can access the actual server rooms. Backup generators are available in case of power failure.
If the SunGard hardware was being used to "host" critical command and control software related to SolarWinds, the US powers would be very interested in gaining special access keys that are stored on the hard-drives of specific servers.
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MDZS is laden with buddhist references. As a South Asian person, and history buff, it is so interesting to see how Buddhism, which originated from India, migrated, flourished & changed in the context of China. Here's some research (šš¼ @starkjeon for CN insight + citations)
1. LWJās sword Bichen āis likely an abbreviation for the term čŗ²éæēŗ¢å° (duĒ bƬ hĆ³ng chĆ©n), which can be translated as such: čŗ²éæ: shunning or hiding away from ēŗ¢å° (worldly affairs; which is a buddhist teaching.) (https://t.co/zF65W3roJe) (abbrev. TWX)
2. Sandu (äø ęÆ), Jiang Chengās sword, refers to the three poisons (triviį¹£a) in Buddhism; desire (kÄma-taį¹hÄ), delusion (bhava-taį¹hÄ) and hatred (vibhava-taį¹hÄ).
These 3 poisons represent the roots of craving (tanha) and are the cause of Dukkha (suffering, pain) and thus result in rebirth.
Interesting that MXTX used this name for one of the characters who suffers, arguably, the worst of these three emotions.
3. The Qian kun purse āä¹¾å¤č¢ (qiĆ”n kÅ«n dĆ i) ā can be called āHeaven and Earthā Pouch. In Buddhism, Maitreya (ą¤®ą„ą¤¤ą„ą¤°ą„ą¤Æ) owns this to store items. It was believed that there was a mythical space inside the bag that could absorb the world.ā (TWX)
1. LWJās sword Bichen āis likely an abbreviation for the term čŗ²éæēŗ¢å° (duĒ bƬ hĆ³ng chĆ©n), which can be translated as such: čŗ²éæ: shunning or hiding away from ēŗ¢å° (worldly affairs; which is a buddhist teaching.) (https://t.co/zF65W3roJe) (abbrev. TWX)
2. Sandu (äø ęÆ), Jiang Chengās sword, refers to the three poisons (triviį¹£a) in Buddhism; desire (kÄma-taį¹hÄ), delusion (bhava-taį¹hÄ) and hatred (vibhava-taį¹hÄ).
These 3 poisons represent the roots of craving (tanha) and are the cause of Dukkha (suffering, pain) and thus result in rebirth.
Interesting that MXTX used this name for one of the characters who suffers, arguably, the worst of these three emotions.
3. The Qian kun purse āä¹¾å¤č¢ (qiĆ”n kÅ«n dĆ i) ā can be called āHeaven and Earthā Pouch. In Buddhism, Maitreya (ą¤®ą„ą¤¤ą„ą¤°ą„ą¤Æ) owns this to store items. It was believed that there was a mythical space inside the bag that could absorb the world.ā (TWX)
