My 7 day average RHR is 42-43.
If pushed I would say it’s 80% content mind and 20% general health.
I have no stress, I am content, I am challenged daily, I have full voluntary emotional control. There is nothing for which I am left wanting.
I’m not really interested in chasing owning/having material things. I do things because they are satisfying to me.
I don’t obsess about health, I don’t follow any rigorous plan or regime other than occasional spontaneous fun.
This seems to work.
This is a good answer, so many false assumptions in our economic thinking... The money manipulation is ultimately a political beast, as governments keep kicking the can down the road. It's not sustainable, but I fear the chaos that results is not going to make a transition to bitcoin easy or obvious for most.
We need better definitions... Wealth is only roughly correlated to things like money, it's actually created with new knowledge, and has no potential limit. "Wealth is the repertoire of physical transformations that one is capable of causing" - David Deutsch (https://www.exkn.io/optimism). This kind of thinking lies at the intersection of Austrian Economics and Critical Rationalism.
I'm skeptically hopeful knowledge creation (technological innovation) may change things fast enough that the money manipulation becomes irrelevant...
You can sustain a fiat system so long as your nominal tax revenue always grows faster than your nominal debt servicing cost.
If your nominal debt servicing cost is growing faster than your nominal tax revenue then you in a Malthusian catastrophe and your currency will eventually be debased to zero.
We currently have high inflation by design because it reduces the debt/GDP ratio and eases the burden of servicing the debt.
This isn’t an easy thing to do, because it means bondholders are losing purchasing power whilst it goes on. If they sell off it forces you to print more as buyer of last resort and you can actually blow yourself up.
So there’s a fine line, but Fed are trying to walk it. What else are they to do?
Meanwhile, commodities will inflate and you don’t want to be stuck in fiat denominated instruments during these inflationary debt/GDP realignments.
Have you ever lived in a place that experienced generational unemployment driven by technology?
Because this isn’t what happens.
… because sooner or later those people hoarding are dead.
Use it or lose it, you ain’t taking it with you.
Let’s assume the money supply is fixed.
If productivity rises then yes, prices should fall, if we also assume demand remains constant.
If demand falls then prices might collapse and the additional productivity is worthless.
If demand rises as productivity rises then price might stay constant.
Assuming a fixed money supply, prices are a function of both demand and supply.
If the money supply is not fixed, then prices are a function of demand, supply and money.
In any monetary system demand is crucial in order to justify supply. If demand falls then there is no value to additional supply, whether that additional supply comes via productivity gains, cheaper resources or whatever.
I’m not sure I follow?
If fewer people are employed because of AI, economic demand will fall and the economy will shrink.
The economy is not merely about economic supply, if AI boosts our ability to produce things but reduces the flow of capital to consumers then it will lead to a smaller economy.
Because in order to transact, any seller needs a buyer.
In a capitalist system, it is the consumer who is the engine of the economy. Frivolous consumption and high monetary velocity consumers are the foundation of a strong economy. Strip those consumers of their buying power and you quickly grind to a standstill. It doesn’t matter what you can supply. It doesn’t matter if your productivity balloons, you cannot economically produce more than your consumers can consume.
#8 is not cool.
How does a private org have eminent domain?
I really love this style, there’s a couple of places I know where I would love to build something like this.
Any institution or public official that seeks to insert itself in between the parent-child relationship, is impossible to trust.
Happy Tuesday everyone.
Did you know… Californian people are less likely to barbecue on a Tuesday than any other day of the week?
However, in Japanese, the word for Tuesday (ka youbi) means “fire day,” in relation to Mars the planet (kasei) meaning “fire star.”
🫨
Is it true that this NYC prosecutor ran for election on a promise to arrest Donald Trump?
That can’t be real?
iOS 16.4
“This update introduces 21 new emoji and includes other enhancements, bug fixes and security updates for your iPhone.”
… for just 1.8GB 🤔
Below is the optimum Tweet. 🤡🌎
… until the population starts shrinking.
Financialization seems like a kind of captured servitude when you see data like this.
What would house prices / land values be, in a world without loans?
Have you asked Chat-GPT4 about creating new programming languages yet?
I wonder if 5 years from now all legacy code is obsolete.
Will LLM’s be translating chatbox prompts direct to machine code and running directly on the CPU?
At some point surely we rearchitect the OS and also the machines.