Comments by "Piccalilli Pit" (@piccalillipit9211) on "ProfSteveKeen" channel.

  1.  @evilryutaropro  I totally agree with your comment - the one very interesting thing is, China is now issuing govt Bonds in $USD that are redeemable in $USD or RMB cos OPEC countries don't trust the US wiht thir $$$. This is sucking up the $USD in the world and bumping up the value of the $USD, China now has $1.5 trillion $USD in cash that it is operating as a swap fund for other countries. So the US has partially lost control of the $USD - I have no idea what the long term implications are for this cos it has NEVER happened before... In essence, China is sucking up your inflation for you, whilst lowering their own currency value relative to yours so you can buy more - which sounds like the best buddy in the world. But what happens when China has $5 trillion in cash? You HAVE to do what they say or they just collapse your economy by dumping trillions of $$$ onto the market.
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  2. PHYSICISTS lets assume a spherical cow of uniform density in a vacuum ECONOMISTS lets assume a spherical economy that fits my educational biases
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  3. THERE IS A FUNDAMENTAL FLAW I believe - you are working on a traditional model of an economy here where capital is used to make things that is used to generate more capital The US is NO LONGER this type of economy - it is a hyper financialised rent seeking and extraction economy. NO ONE in Am3ric4 wants to sell you a new washing machine; they want to rent you the advanced features of your existing washing machine and then each year jack up the rent and change for more features by restricting what used to be free. This does not need more energy.
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  4.  @discreplayboss  Well I just did and so did the other chap - its not hard
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  5. GOVERNMENTS SPEND MONEY INTO EXISTENCE they then tax that money back and effectively destroy it to curb inflation Government LITERALLY are the magic money tree...!!! You notice they can always find money when the banking system goes belly up cos of greed...??? If the government does not spend money, then there IS no money. The GOVERNMENT creates the fiat money
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  6.  @bogdanpopescu1401  No - Im sorry you are clueless. These countries were not borrowing in their own currency. PLEASE for the love of God get an education before you comment on things about which you have no idea. We live in the age of the id!ot who is convinced they are an expert.
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  7. 70% of the US economy is based on people self promoting
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  8. This is why narcissists destroy things - its way easier than building things and it get you noticed more. And all a narcissist wants is attention. On an unrelated subject - Trump is a narcissist.
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  9. They all borrow money in external currencies - which is real and then printed paper money [which is fiction] to supply internal demand. The US [much as I dislike the US] borrows money in $USD and prints $USD and destroys $USD at will. This is why even as a massive supporter of the EU - I as a Brit would NOT region if we had to lose the £GBP. Not cos I like the Kings head on the money - but for this EXACT reason
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  10. And the rich know this so they have written off the western consumer. The global south will have 1 billion new middle class by 2030 - THATS the intended market - the West will be peasants in the fields whilst high tech people on visas create products they sell to the new middle class
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