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not to dispute your point, because it makes sense from the individual's perspective, but this... > Right now, investing in public companies and tech is very ri

not to dispute your point, because it makes sense from the individual's perspective, but this... > Right now, investing in public companies and tech is very risky, as valuations are at record highs. Many experts estimate near-zero returns for decades from public markets. ...is a big red arrow pointing to the fact that we're living in a castle made of sand if we continue to let pathological incentives drive economic decisions the tide will wipe it all away purchasing power is a mutually constructed fiction and remains a useful social technology only while material productivity can plausibly support the web of lies we tell each other now that people have noticed the foundation caving in, it would be nice if we could formulate and incentivize a positive sum response, otherwise we get zero or negative sum dogfights over scraps as you describe

rcpt 5y ago
What's really awful is that this has happened before. This write up of 80s Japan (from 1990!) is worth a read https://hbr.org/1990/05/power-from-the-ground-up-japans-land-bubble https://hbr.org/1990/05/power-from-the-ground-up-japans-land...
- nemo44x 5y ago
  The difference is the USD is the global reserve currency. And that’s not changing anytime soon. It’s a totally different game when the entire planet wants to (or has to) transact in your money. It’s also justified as the USA is by far the most dynamic economy in the world and has the most advanced military there to protect your investment in USD.
  - ur-whale 5y ago
    > And that’s not changing anytime soon. I wouldn't bet the farm on this one. The US ain't what it used to be and China is rising fast.
    - nemo44x 5y ago
      Such an overblown and baseless talking point. The USA has never been in a stronger position. Literally just printed 40% more money than has ever been created and the demand for her bonds is insatiable. I’m happy for China and Chinese people having a better quality of life. But their economy is based on humans doing things inexpensive. It’s essentially a services business, not a SaaS business. It doesn’t scale well but they have so many poor people to exploit that they can make a thing of it. When the seriously export culture, novel technology, or medicines then sure. When they aren’t a net importer of food then sure. But the yuan is not a serious threat to usd. It’s pegged to it.
      - dmingod666 5y ago
        Behind the cheap workers is whole industries and ecosystems and know-how, it's not a cheap labor problem. Bangladesh is cheap labor but if you wanted to start building phones there you will not have the ecosystem to support you..

rcpt 5y ago

What's really awful is that this has happened before. This write up of 80s Japan (from 1990!) is worth a read https://hbr.org/1990/05/power-from-the-ground-up-japans-land-bubble https://hbr.org/1990/05/power-from-the-ground-up-japans-land...

nemo44x 5y ago
The difference is the USD is the global reserve currency. And that’s not changing anytime soon. It’s a totally different game when the entire planet wants to (or has to) transact in your money. It’s also justified as the USA is by far the most dynamic economy in the world and has the most advanced military there to protect your investment in USD.
- ur-whale 5y ago
  > And that’s not changing anytime soon. I wouldn't bet the farm on this one. The US ain't what it used to be and China is rising fast.
  - nemo44x 5y ago
    Such an overblown and baseless talking point. The USA has never been in a stronger position. Literally just printed 40% more money than has ever been created and the demand for her bonds is insatiable. I’m happy for China and Chinese people having a better quality of life. But their economy is based on humans doing things inexpensive. It’s essentially a services business, not a SaaS business. It doesn’t scale well but they have so many poor people to exploit that they can make a thing of it. When the seriously export culture, novel technology, or medicines then sure. When they aren’t a net importer of food then sure. But the yuan is not a serious threat to usd. It’s pegged to it.
    - dmingod666 5y ago
      Behind the cheap workers is whole industries and ecosystems and know-how, it's not a cheap labor problem. Bangladesh is cheap labor but if you wanted to start building phones there you will not have the ecosystem to support you..