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My unpopular opinion is a little boring. The common element is GDP-first economic management and everyone is cheating with inappropriately low interest rates. I
by mrslave 5y ago
My unpopular opinion is a little boring. The common element is GDP-first economic management and everyone is cheating with inappropriately low interest rates. Instead of nations putting their people first, countries manage to this (inappropriate) metric and then imply that this benefits everyone. In this way China is following the same script as most Western nations.
Where I live the externalizations are going gangbusters, and I believe this to be true in most other places. Boomers are insanely rich with decent property portfolios (bought before the interest rate plunges, then used as leverage to borrow more and buy more after the plunge) and their children - even a lot of successful ones - can barely afford shoebox apartments with sticker prices fast approaching one million dollars. The stock market is long-term up despite their being no rational explanation - no significant increase in dividends - other than the large increase in money supply due to the cheap rate to borrow, not to mention all the other insane financial "instruments" invented after the official interest rate hit near zero (QE, emergency "loans" to the super rich that will likely never be repaid). Businesses are enjoying ridiculous valuations but yet complain about their staffing costs. The total absence of any real increase in the median salary. (I know here on HN we worship the overachiever with six-figure salaries at FAANGs that start with a number > 1 but it is sociopathic not to consider the life experience of average or "normal" people in our society. They are our neighbours after all.) Insane immigration levels in the presence of declining prosperity for citizens is another side-effect of an inflation-driven economy.
This explains why the birth rates are low in Western and prosperous Far East nations (China, Japan, Korea). And how the birth rates for newly arrived immigrants declines from that of their home country. The side-effect phenomena are strikingly similar.
- Ericson2314 5y agohttps://phenomenalworld.org/interviews/trade-wars-are-class-wars https://phenomenalworld.org/interviews/trade-wars-are-class-...
- deleted 5y ago[deleted]