4 ms·
> yet we are in the middle of pandemic, millions get sick every day Pandemic is very big and very serious, but it is disproportionately overblown in our percep
by rg111 5y ago
> yet we are in the middle of pandemic, millions get sick every day
Pandemic is very big and very serious, but it is disproportionately overblown in our perceptions. Many people are completely untouched by the pandemic except for travel plans. The economy has taken a hit in many places like hospitality, travel, medium and small enterprises, but in other places it has grown.
E-commerce, gaming, pharmacy, electronics gadgets- all have seen a boom. And as these industries scale well, wealth transfer has happened and the gulf has been widened. But that does not mean that all of economy is hurt.
> Fed printing dollars recklessly in 2020
The USA is the only country on earth that can print money with little to no consequences.
I don't know whether we are in a bubble or whether there is going to be a big crash. I just added these points in relation to your post.
- mercy_dude 5y ago> The USA is the only country on earth that can print money with little to no consequences. Not without any consequences. Foreigners are increasingly buying less UST and the debt is increasingly being monetized by the Fed. Producer economies increasingly get USD in exchange for goods we consume and use the paper USD to buy hard assets such as stocks and real estate in US. OPEC has been playing with supply largely to match the oil price against devaluation of the dollar. The recent energy spike we are seeing is really a function of devaluation of USD. Overall it’s a very bad deal for the citizens so not without any consequences.