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Thanks!

no problem. by 2045 human cloning will have been approved. Sex will be free from the risk of child support payments. And there will by others just as smart, handsome and as beautiful as you are.

Good post! Particularly this: "That is why I have been saying that the absolutely most important aspect of innovation and automation and ai is a philosophical rethink how society at large benefits from those investments and not just a few dozen entrepreneurs only." And this is interesting...

Indeed.

Here is something we should all think about and be grateful for. Because day to day banking transactions are processed through bank reserve accounts by the Fed, you do not need to have the slightest concern about the solvency of the bank you write a check on. So long as you have deposited...

The Fed is an essential part of money management, banking regulation, transaction clearing, international commerce, foreign exchange, and many other functions. A Nation can not function without a Central Bank anymore than it can without a Treasury. Without either one of these critical...

We can all understand why senators might favor the "cloakroom filibuster". They get the special interest money without direct exposure of their dastardly deed to the public. I laughed today when I heard of Mitch McConnell's "scorched Earth threat" that he will proceed with if the Senate...

I was reading as article about the latest 5 nanometer IC technology that state of the art production facilities are using. Particularly TSMC in Taiwan. What struck me is that 5 nm wavelength isn't far above xray. In the uv spectral range there is enough energy to excite valence shell (outer)...

The filibuster, in its McConnell form, must go. In other words, it surely must violate the Constitution for any individual, even one empowered by the majority, to stop the working of the Senate, as ordered in the Constitution, completely and indefinitely. Though the Constitution makes the Senate...

I have to respectfully disagree with you. when you say that the Nixon Shock was the "the cause" of the collapse of the Bretton Woods Accord, which didn't really collapse fully until March of 1973. The accord was in trouble long before the Nixon Shock and all the other parties, except France...

You'll continue this line of reasoning as long as you continue to think there is "debt" that somehow should be paid back, although recognizing, as you do, that it could never be.. We all agree that what the public calls "national debt" -- a terrible misnomer -- will never be paid back, but you...

failed????

I suppose your right. I think the U.S. first learned of the Covid threat in Dec of 2019, so that would be a little after the "repo crisis" ? Thanks for correcting me. Between you and Sun Trader I might get it right eventually.

I have to respectfully disagree, not with the data of course, but with some, not all, of this analysis. Let me first point out that not only treasury bonds but also our fiat money represents treasury liabilities, so that when the fed buys treasuries on the secondary market and credits bank...

Ha ha ha.

What you really meant, I'm sure, unless you have a crystal ball, is "They haven't yet undone what they previously did." The Fed is, most of the time, a lumbering giant, they move, except when goosed, at a slow pace. The did, as I pointed out in my response to you, start a program of "balance...

Buffet is right of course. He gets it! The concept of "debt" is not at all the same as it is to a private citizen for a government that issues bonds denominated in its own fiat money, and "has a money machine in the basement." For the U.S. Government, bonds do not serve the purpose they...

Actually it was the reverse. The Nixon shock was caused by the U.S. government no longer being able to control the price of gold, exactly as Keynes at Bretton Woods predicted would happen. Foreign Central Banks were redeeming dollars for gold at 35$/oz whereas elsewhere gold was selling for...

This is a question that only has meaning in the specific context of someone who thinks as the maker of this foolish video does. Such a person is dangerous to those who are susceptible to illogic. From the viewpoint of many "believers" and non-believers alike, we, of our species, all have the...

Religion is not one of them however.