Status Updates From In This Economy?: How Money...

"--- When people stop believing in the government’s ability to make responsible decisions, there is a risk of widespread disillusionment, political apathy, and social unrest. So taxes are more than just a tool to raise money; they are a social consensus mechanism that enables civic engagement and shapes societal priorities (sort of)."

"--- Democracy fundamentally depends on the belief and engagement of its citizens; without their trust and active participation, it risks transforming into a different system entirely, where power is concentrated in the hands of a few. Without public belief in the integrity and ability of the government to serve the nation’s best interests, the foundation of democracy becomes shaky. ---"

"In the United States, the tax system, like the monetary system, is based on the full faith and credit of the United States. In other words, people are going to pay taxes only if they believe in the system collecting them. There would have to be a catastrophic level of loss of faith for them not to, and there is a reason that the government has to maintain the trust of the people it serves! ---"

"Of course, the thing we have to remember is that people are the economy. As we try to figure out how to integrate AI into our lives, manage wealth inequality, and try to maintain our labor market, we have to remember that people are everything."

🥲🥲🥲

The answer must be in the attempt. We get so caught up in what happens at the end that we forget to simply exist. And maybe availability and optionality could both be solved if we were just more present in the moment. More reflective. More there for one another.

"The answer must be in the attempt." tebak pelm wkwk. full dialogue-nya aga bordering syirik ternyata yah baru ngeh

"--- It was this belief that house prices could only go up, and so it didn’t matter whether the person who was buying a particular house might lose his or her job and default on their payments. The bank would be holding valuable collateral and everything would be fine."

As Antoinette Schoar, an economist at the MIT Sloan School of Management, saw it:

"The problem with the banks was less a misalignment of incentives or deliberate misselling of loans to people who couldn’t afford it, and more, if you want, stupidity. ---"

"--- The high energy consumption associated with crypto is also a major concern. Cultural issues exist, too, with a focus on get-rich-quick schemes and an abundance of scams and bad actors."

"But the problem of the rich getting richer remains unsolved. Crypto has the same problem that traditional finance has: People who have a lot of money have the greatest opportunity to make more money. And a lot of crypto solutions create more problems. There are a lot of scalability problems, and the industry is plagued by security issues, including hacks, attacks, and fraud. ---"

"But one of the biggest complaints people seem to have with modern society is the financialization of everything—the increasing influence that the financial markets have on our daily lives. The financial sector has grown, advertising is ubiquitous, and it often feels as though shareholder rights supersede civil rights, as the Financial Times noted in 2023."

"Humans are drawn to challenges that echo the Darwinian struggle, where survival hinges on the dynamics of tribal allegiances and social ties. This competitive spirit underpins the allure of cryptocurrency. It’s a realm where ownership, network effects, technological innovation, and financial interests converge."

"Vibes and feelings are much more important to how the economy (and stock market) functions than we give them credit for."

"The basic takeaway is that the yield curve reflects economic vibes. When it inverts, vibes are bad. When it’s upward sloping, vibes are good. But sometimes the vibes are confusing. Inversion of the yield curve does not always mean that a recession will follow; it just means that things are not looking hot."