Comments by "Nattygsbord" (@nattygsbord) on "Econ Lessons" channel.

  1. I think russian propaganda is just full of contradictions. First it says that west is weak and that russia easily outproduce the west in artillery ammunition, and that the west have no military stockpiles and is laughably weak. And then all of a sudden Russia turns around 180 degrees and says that the west is a great aggressive threat towards russia that wants to steal their resources. Even if the western armies are so weak that even Germany have less artillery ammunition than for a 2 week fighting with russia. So I say this: Get your own story straight for F*** sake.
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  2. With what? Bitcoins? World of warcraft gold? Super Mario coins?
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  3. Of all issues in the world one could care about, you care about woke 🙄Not the opiod epidemic, not the unaffordable healthcare, not AIs impact on society, not national security or the problem of mass incarceration... nope those issues are too complex. Let's talk about some totally unimportant non-problem gender pronouns that are easier to grasp for a low information voter with an IQ of 60. 🤦‍♂
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  4. Evangelicals could believe that Trump is God's best child if they want, but what annoys me is that they are judgeing everyone else so harshly. But rightwingers like Trump gets away without criticism from their own rightwing voters. Despite Trump had sex with a pornstar, cheating on his wife, despite having children with multiple women, despite being a draftdodger who mocks veterans like McCain, despite he is constantly lying and behaving like a bully despite he is an old man that should know better. I would say that the average leftwing voter is more moral than that guy.
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  5.  @ЕржанЖанабердинов-р4ш  Capital controls should be done in moderation. You do not want useless and harmful speculative foreign capital creating inflation bubbles followed by deflationary crashes. You do not want tax evasion. You do not want foreigners to buy up the crown jewels among the high tech companies in your country. However some foreign money is good for a country. If they build new factories, create good well paying jobs and make long term commitments and bring foreign technologies into the country. Russia have just stolen assets from the west - everything from Carlsberg to 500 passanger planes. This will have long term negative consequences for the country as foreigners will be very hesitant and wait many many decades before they can come back. And stealing russian peoples savings in dollars, pounds, and Euros is also sacrificing the future for short-term gain.
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  6. I do think that we humans have both cooperation and competition in us. And we can build a society based on hard competition where some people act like cheetahs while others gets targeted like gazelles. But we also got the option to build a society more around friendship and cooperation instead. And we can try to limit competition to as few areas as possible in society where they blong... like say sports or having companies trying to out do each other in producing the best microwave. After all do I think most animals got something good in them. All videos on youtube have led me to believe that. Even lions like rubs from their owners and can become friends with dogs. Wolves can enjoy strokes and long for their owners hug and love just as much as dogs do. And I have even seen an alligator jump into the sofa just because it wanted to get strokes and cuddle. So even wild predators got something good in them, and could enjoy friendship with individuals of other species. So things do not need to be as they are. If there was no competition for limited resources, and the wild animals had other sources for food than killing other animals... then perhaps would their killing and wild behaviour be a thing of the past. And nature would be based on cooperation instead of competition. So I think that we should think about how we organize societies. What incentives do we reward? Do we encourage competition and cutting each others throats, or do we encourage cooperation and friendship? I believe that a society leaning towards more cooperation is a better one. But we are of course living in a world with limited resources, so not even the most socialist society can avoid some degree of competition over limited resources.
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  7. The winter war was a humiliating failure. They also suffered more deaths due to winter cold than the Swedish army in 1708-1709 but was less affected only because they had more cannon fodder. The same goes for the battle of Stalingrad in 1942.
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  8. Nonsense. The west was preparing to invade russia and moved the Nato border closer to russia year after year. Therefore did the aggressive warmongering west start this war. And little innocent russia had to defend itself.
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  9.  @maxinabo  If Sweden invaded Finland. And if Swedish troops there behaved like the russian army in Ukraine, and murdered, raped, plundered, destroyed cities, turned villages into dust and rubble, kidnapped thousands of children to brainwash them, built torture chambers for finns, forbade finns from speak their own language in occupied lands, forbade them from waving finlands flag, killed people for supporting finlands independence on facebook... and behaving like scum in general.... well then I could very well understand if the Swedish speaking minority would not want anything to do with Sweden. They would rightfully hate Sweden for destroying their cities and killing their neighbours. And the Ukrainians feels the same way towards russia today. But for some reason are some people not clever enough to figure that one out.
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  10. I think manpower is not russias weakest link in the chain. I rather think that it will run out of military hardware first. And without tanks and artillery will it be impossible to conduct any succesful offensives. Especially with low quality troops, now when russia have wasted its best troops. Economic constraints will more and more starve the russian military of resources, and as wests artillery ammunition is ramping up will the balance on the battlefield shift more and more to Ukraines favor. Ukraine will have more resources in a war of attrition. And they will have much more firepower. And Ukraines future advantage in firepower will lead to higher russian losses. And it can compensate for russias advantage manpower.
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  11. Not true. https://youtu.be/tY3cysKDNZI?si=Zzb_z1q_kqcjM_q6
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  12. Sadly it seems like Ukraines destiny is now decided more by idiots in the big western countries than in Kyiv. US aid is blocked by a pro-russian traitor, and the EU has failed to deliever 1 million artillery shells, and the pathetic Europe club could not even give Ukraine 7 patriot systems, despite having over a hundred. So now is Ukraines energy grid totally destroyed and will need billions to repair, and if the idea is that EU will repay for Ukraines reconstruction and refugee wave then I would say that the EU is ruled by idiots. It would have been cheaper to just give patriot missiles than pay for reconstruction of Ukraine. European leaders have never said they want Ukraine to win. Why? Because that would entail large military commitments, so instead do we get all those useless half-assed too little too late garbage packages. European politicians should feel ashamed of themselves.
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  13. Russia lacks knowledge and advanced components. That will ensure its place among the worlds poorest economies. Rich countries makes advanced high tech manufacturing products. Those are highly profitable since they are in high demand. Every country in the world wants them and competition is low since not everyone can make them because they do not know how to create them. But selling raw materials like wood, and coal is not advanced and large numbers of countries around the world can compete which drives down prices and profit margins. And then there is also a risk that the oil, timber and fish stocks runs out one day if you over exploit it. And if someone invents an alternative, like using green energy instead of oil, or the world begins to use optical cables instead of copper cables - then do the world demand for oil and copper fall so prices and profits starts to fall. And countries that relies on selling those raw matericals will fall into deep problems. So being a resource producer is risky, and can lead to economic ruin for a country if it is overly dependent on a few resources no one longer wants. When synthethic dye was invented it was bad news for countries in latin america that lived off selling insects to crush to make certain colors. African countries have been hurting when prices of copper, vanilla and cotton has fallen. And russia will lose 60% of its GDP if the world no longer wants its fossile fuels and use other energy sources instead.
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  14. I think industrialization was doomed to take a long time for Russia. The population density was low and the population was scattered over long distances. Transportation of goods was made difficult. And in the pre-industrial age was it for example cheaper for the Romans to transport wheat from a ship from Egypt from one end of the mediaterranean to Spain, than what it was to transport a cart of goods on land 100km. Russia could have used its rivers and water ways someone might say - but the problem with that was that they were covered with ice for something like 5 months of the year. And using hydroelectric power to run industries was also inpractical when the water had frozen into ice. So this problem could only be solved by using the steam engine then. However russia had the same problems as the northern half of Sweden, there was lots of natural resources there with much iron and wood, but no way these resources could be transported away and exported for a profit due to high transportation costs would have made it unprofitable. And only the construction of railroads in the 1800s could have solve this problem. Contrast this to Norway which only had 25% as much forest as Sweden, and yet in the early 1800s did it produce 4 times more timber than Sweden because all of its forests laid closed to the coastline so transportation costs wouldn't eat up all profits. And the salt in the ocean water prevented it from freezing into ice. And finally did russia have serfdom. I mean extremely harsh serfdom that was just as opressive as slavery. And this and the poverty among the masses it created prevented the creation of any industry, as mass production requires mass consumption. So the only way for russia to create any industry at all during this time period was through state-led industrialization. So the government built railroads in the 1800s, because no private enterprise would have seen any oppurtinity for profit for building any railroads in such a country with low population density and a poor population. State-led industrialization does not mean that the country is doomed to failure. Prussia in the 1700s was Germanys most succesful economy I would argue, with its state-led industrialization around military goods such as textiles, iron, and weapons.
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  15. The Russian currency will fall as global demand for it has fallen. And because of all the sanctions have imports of production imports become more expensive, that leads to higher prices. And a higher price level is the same thing as what economists call inflation. There are no willingness to invest in russia. For ethical reasons. But also because the russian state is in economic problems and if you lend out money to it you might not get repaid. And then there is this problem that opening a factory in Russia is risky because the government can just all of sudden decide to steal your factory from you - like what happened to Carlsberg - so then what reason will there be to invest in russia? Russia might also wanna pay for their war with their printing press as raising taxes is unpopular and lead to deflation, and russias savings are running out, and borrowing money is difficult when you are kicked out from the SWIFT agreement and have to pay higher interest rates for all money that are being borrowed. Of course will it always be possible to borrow money, but the question is always at what interest rate? If you begin say borrowing money for 500% interest rate after two weeks has passed, then you have just created a bigger hole for yourself when you tried to get rid of a hole in the ground.
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  16.  @afreire239  Every people do. Even the russians could depose the Tsar in 1917. And the Chinese did force their own government to abolish the harsh covid restrictions when people went out and protested. And the government feared that the protest might spread further, and also mix with more demands for democracy so it had to react quickly to the will of the people and scrap all the Covid lockdown measures over a night. The chinese government also have to give economic growth and jobs to stave off riots, and in return have it gained the popularity of the Chinese people. Also the unpopular one child policy was scrapped. So even brutal dictatorships listen to their people. The Hitler regime had to surrender to the protestors at Rosenstrasse. And if women go out and protest against the war, then it becomes difficult for Putin to secretly and harshly beat down the protest. So he will be forced to make concessions. And if that doesn't help, then he might be forced to end the war.
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  17. conspiracy theory
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  18. Maybe I am a horrible person... but if team Putin is playing against a Stroke.. then I hope the stroke wins the game.
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  19. Exactly. The vodka rouble will replace it.
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  20. Merkel is Hitlers daughter. There are photos that proves it. And its no coincidence that she have the same shakings like that she inherited from papa Adolf.
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  21. When people pay higher interest rates on mortages, credit card debts, car loans, student loans or whatever then do have less money over left to spend on buying consumer goods. That means less sales for companies that makes furniture, clothes, cars, books, white wares and so on. And less sales means less profits. And lack of profitability means less taxes to the government and more lay offs. And more unemployed means less people that can pay taxes to the government and more people who need government handouts for unemployment benifits or food stamps. And when people lose their job and income, then they spend less. And less spending means less sales for companies, and that means even more lay offs. So the economy is spinning into a death spiral.
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  22.  @DominicFlynn  If that was the case then why not raise the rates to 99% then? High interest rates benifits savers over consumers. And it is consumers that create demand in an economy and are job creators. High interest rates makes it impossible for some companies to pay off their debts and they go bankrupt. High interest rates might also eat up future profits and thus discourage people from investing in new factories. Most people have more debts than assets. While only a few of the richest people have more assets than debts and they can lend out money to get some interest on that money. When you raise interest rates you do create a transfer of wealth, from ordinary people to rich people. A problem with that is that rich people do not behave like ordinary people. They do not spend most of their income each month like poor people do. They stack more of their money on a pile that never gets circulated into the economy and thus keeping buisnesses alive.
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  23. ​ @johnwalsh4857  Even if a new government comes into power in russia after the war, will they have a problem with convincing foreign investors to come back to their country after they have shown that they have no respect for private property of foreigners in russia as their theft of 500 airliners and their theft of Carlsberg beer has shown. Personally do I hope that corporations also get shamed for still doing buisness in Russia like Unilever, Tuc, Mondelez, Proctor & Gamble etc. Selling Pringles cans with St. George ribbon painted on them should be considered as anti-western treason. Its like if Pringles sold cans with swastikas and SS symbols in nazi Germany while they were fighting WW2. And Mondelez chocolate bars should be boycotted, as they have a taste of Ukrainian blood in them as this sh*thole company is paying taxes to Putins warmachine. All companies should have a choice - either they leave russia, or they will be bullied and ruined in USA and Europe. And if companies are forced to make that choice, then would the last remains of western involvement in the russian economy go away, and the country would fall apart.
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  24.  @ericdaniels4650  I base my prediction on the past track record of the russian military. If russia would continue to push forward with the same rate of advance as they had during the battle of Avdiivka it would take something like 800 years before all of Ukraine is occupied. And Russia have to spend the lives of about 300 million soldiers. Russias population is 144 million. And the population of men in military age is even less. So things do not look good for russia if the goal is to take all of Ukraine. So far has not yet any big city, not even Charkiv, fallen into russian hands. Bakhmut was a tiny place compared to Charkiv, and even more so compared to Kyiv. And with most of russias best troops and heavy equipment wiped out I doubt its possible for russia to gain anything. I do not even think russia have the artillery ammunition available for such a large project.
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  25.  @sleefy2343  Why this angry and upset tone? These things happened a long time ago. I don't feel much anger about what happened to my great great great great grandpa. And nor do I think anyone else should. You are upset about a foreign country selling drugs to you. You are upset about imperialism that was done to you. And yet today are fentanyl cooked in Chinese labs and sold in America and contributing in the drug death epidemic. China is also behaving like an opressive imperialist power by taking over Tibet. It does not respect the will of the people in Hong Kong or promises given to Britain to accept a high degree of self-determination there. It is a country that is cutting off the water supply to neighbouring countries in Indo-china and keep all water for itself. It invaded its neighbours Vietnam and India in modern history. So I think it is time for some self-reflection and self-criticism here. Time to be humble. Why should China have its historical lands Taiwan back, but Tibet should not get its historical lands back from China? I also think that if China was democratic, free, economically succesful, and not aggressivly imperialist then would the people in Hong Kong and Taiwan volunteer to join China and give up their independence. And the west could not stop that process even if it wanted to - which I don't think it would want. It wants people in Asia to be happy and free and prefer not to go to war. I also think that China could do better than to opress Uighurs and Tibet. Indeed, if China was more free and tolerant, then its perhaps even possible that the uighurs and Tibetians would prefer to be a part of China for all the advantages that gives.
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  26. 1. Not really. And no russia is lagging behind. There is no 5th genertion fighter jet in russia. Russia have no CATOBAR aircraft carrier. Nor does it have the fine precision tools for making advanced weapons, as those German, American and Japanese capital goods that can cut metal down to a fraction of a millimeter and having multiple arms that can do it simultanously according to a 3D blueprint does not exist in russia. https://www.youtube.com/watch?v=RnIvhlKT7SY&t=39s Without those tools can russia not make more advanced components like for example glass for radar screens. And when you resort to plunder refridgerators for components for hundred million dollar jets, then of course will performance be sub-optimal. 2. Russia started their mobilization for war earlier and had a head start. Thats all. Saying russia have stronger industrial potential than the west is as dumb as saying nazi-Germany have stronger industrial potential than the allies because they outproduced them in 1936-1938. But it turned out that Germany had a problem with ramping up production much more... and when the political will finally came to go all in for a 100% war economy by 1943 it was already too late. The allies outproduced Germany with a wide margin. And the same will be true next year. The west will provide Ukraine with more artillery shells than russia have. And the western artillery shells will also have a much better quality. Russia can go all in into a war economy by 2025, but that will not change the tide - the free world will begin to outproduce russia with a wide margin. The wests main restraint is then political will to help Ukraine, and not production capacity. While dictator Putin lacks no will at all to fight this war, but the russian economy is weak and cannot pump out more gear to outproduce the west no matter how many workhours Putin demand by law from the russian people.
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  27. Once China have aquired skills to make the most advanced and profitable products in the world, then it no longer got any need for importing technologies from France and Germany and can kick out their producers from China and let Chinese car makers make cars for the Chinese instead and keep all jobs and profits at home instead. So I don't think this Sino-western trade will go on forever. And I don't blame China for wanting to climb up the technological ladder, who doesn't want that? Of course you wanna make as much economic profit as possible and being able to make the most advanced products in the world, so your military have the upper hand in every future war. China do have its big rivals in India, the west and Russia. China have allied itself with the hated islamist country Pakistan against India. And the friendship with Russia is a complicated one. China do want allies and leverage against the west. But on the other hand are the Chinese leadership too wise than to go to war for the sake of a weak and worthless ally - Like Germany did in 1914 when it went to out to fight a war for the weak and useless Austro-Hungarian empire. Or how Hitler got involved in North Africa because of his useless Italian allies. Russia is technologically backwards and only got a GDP the size of Italy, so its value as an ally is very limited after all. Its only real value to China is to extract resources from it and some few military technologies from it that it havn't aquired yet.
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  28. My bet is that 80% of russian nukes don't work due to corruption and bad engineering and maintence. While my guess is that 100% of American nukes works and will hit their targets unless intercepted. However when it comes to russian ability to intercept I am not that impressed. While on the other hand do the patriot missile system do offer at least some protection against russian missiles. And I would be suprised if USA did have any secret ace up its sleve either. But regardless if do or not do I think it would easily defeat russia in a war, both a conventional and an unconventional.
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  29. Seems like the only thing Mordor are good at are at letting trolls spamming how good their own country is and how much everyone else suck.
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  30.  @neolord50pro77  Well it doesn't matter. Russia have used up their missiles intended for nuclear strikes in Ukraine and have used them for carrying conventional explosives instead and sometimes not even that and just concrete. And many such missiles has been shot down. So russia have used up most of their missiles intended for a nuclear war, which tips the scale even more in wests favor.
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  31. Reminds me of a story in the Bible. Mark 10:17 As Jesus started on his way, a man ran up to him and fell on his knees before him. “Good teacher,” he asked, “what must I do to inherit eternal life?” Jesus answered. You know the commandments: ‘You shall not murder, you shall not commit adultery, you shall not steal, you shall not give false testimony, you shall not defraud, honor your father and mother. “Teacher,” he declared, “all these I have kept since I was a boy.” Jesus looked at him and loved him. “One thing you lack,” he said. “Go, sell everything you have and give to the poor, and you will have treasure in heaven. Then come, follow me.” At this the man’s face fell. He went away sad, because he had great wealth.
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  32. Personally I am not a christian. I do not believe that one needs to give everything away to the poor. I just wanna point out that the priesthood living in wealth and luxury are living a total opposite life of that Jesus told people that they should live.
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  33. I really cannot understand Putin. I get angry on him. Why didn't he cut all ties with the west earlier so the russian economy could have grown faster all those years under his rule? And why do he want the sanctions lifted now? Are he crazy? That would only result in a lower GDP growth. So its better to just let the sanctions stay.
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  34. And yet have east european truckers blocked the road to Ukraine, the Slovaks have voted in a Putin bot, Hungary got the fascist Orban who is Putins biggest friend in Europe, and Bulgaria is more upset about Ukrainian grain than helping a wartorn country in need, and Austria is mildly pro-putin, and Serbia and Turkey do have strong friendship ties with Putler. And eastern Germany votes for AfD that are a far right party that wants a remake of the Molotov-Ribbentrop pact and divide Eastern Europe up with russia again. So I got to say that I am a bit dissapointed of most of Eastern Europe. Latvia and Lithuania and Czechia are heroes. Poland have stained its otherwise excellent reputation by not punishing their road blockers and not throwing Hungary under the bus. They have also ordered gigantic amounts of military equipment, and nothing wrong with that. I just think a fraction of that, say 10-20% could go to Ukraine.
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  35. GDP growth must be adjusted for inflation
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  36. Bitcoins will be the new global world reserve currency one day. Its basically just like World of warcraft gold and Supermario coins.
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  37. Nazi-Germany did create much innovations. So dictatorships can be advanced. But I think dictatorships are bad places where people do not want to live under. Not even under an enlightened despot/benevolent ruler like Park Chung Hee. People want to be free and not have to live under fear for just expressing a tiny little opinion. And sure did nazi-Germany create many innovations, but they might have invented even more stuff if they had not taken the lives of all those jewish scientists, engineers, doctors, and professors. Many jews did great contribution to German society, like Fritz Haber.
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  38. It is about power and how to economic pie is divided, and it leads to winners and losers as you say. I am no expert in this field. I believe the argument behind this yearly inflation is that companies borrow money to expand production, and then production is expanded and more goods flows into the market. But the problem is that due to the law of supply and demand, will all those extra goods drive down prices. And that forces the producers to sell their products for a price lower than they had expected and that leads to lower profits that cannot repay the loans - so then you get a crisis. The other example mentioned is the Japan thing that you brought up. I have always found those arguments in favor of intervention as not very convincing. I can however see that inflation can have positive effects as it lowers the debt burden for the government, it helps ordinary people as they got more debts than personal wealth, high inflation do also create more equal societies - which one can see that Europe became a more equal society during the 1940s and 1950s when high inflation was normal to pay off the debts from World war 2. When rich people are in power of a country, they do usually not allow their debts being inflated away - and the result is a debt burden that never goes away (England still paid off their debts of the Napoleonic wars a hundred years later), government taxes are taken from the poor people (tax payers) and given to rich people (bond holders), and economic growth was sluggish compared to what it could have been. Ordinary people are the job creators and engine of growth in an economy and not the rich people. Its consumers who creates jobs. And rich people in management wants to slash as many jobs as they possibly can to increase the rate of profit instead.
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  39. One could divide up the economy into consumer goods, capital goods and military goods. Russia have always screwed over the consumers, for the sake of the other two. I know that other people don't have the same goals and priorities as me, I see that every time people vote in an election. However I think that is unhealthy and harmful to never throw a bone to the consumers and let people enjoy life. And exaggerated military spending harms the economy in the long run. Consumers needs to enjoy life. That gives them an incentive to work and to wanna live in the country. It makes people happy - and that is important as we only live a short time on this planet. And sure could one argue that investments into capital goods and long term productivity is better for creating a better life for future generations and will make life better for the country in the long run. But I do however think that we should not forget to also make life better for people who lives on this planet here and now. Taking the entire budget for healthcare and not curing patients today and instead investing all that money into research to find cures for all possible diseases in the long run might benefit endless amounts of people of the future generations. However I think that we also needs to take care of people who live here and now. Otherwise would I not wanna live in a country that sacrifice all human happiness for the greater good and for the future. I also believe that investments in infrastructure and capital goods will last forever. It will rust, get destroyed by wear and tear, and computers will become old outdated and useless after a few decades. And if there are no demand for the products produced because consumers are opressed - then there are no incentive to produce any goods as there are no buyers for them. And it doesn't matter if the government subsidise production, and minimize production costs by lowering taxes down to 0% and forcing state owned banks to give loans at 0% interest. If there are no demand for the goods, then nothing will be produced by the companies. And then no one will get employed, and no tax money from the companies will be gained. And the economy dies. Soviet leaders don't like to hear this, but maybe the people should have more consumer goods instead of trying to invest as much as possible and build weapons. Sure will people buy dumb junk for their money.. USB-toasters, devices for bleaching backholes, books about silly conspiracies, fashion, green ping pong balls and good who knows what. But if that is what makes people happy, then I think that those things have a value for human happiness.
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  40. Personally do I think Chinas ageing population will mean the downfall of its growing military and economic power
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  41. This isn't russia. No one forces you to read or watching 4 hour long boring Putin speeches. So if you don't like it then just don't watch it. I don't get why Rusbots are too dumb to understand that 🙄 My comment also have 5 thumbs up with suggest that some people saw some value in my input. And that is what matters to me. I rather go for quality than quantity of followers. I do not need the worship from vermins
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  42. Its not just that they are old, Putin lives in the past... being angry about the fall of the Soviet union and wants revenge for that. He romanticise Peter the Great and wanna be the new Peter for Russia. Indeed, Tuckers interview even suggest that he dreams back to the age of Kievan-Rus 1200 years ago. Or rather his own distorted view of russian history that makes no sense at all. He told so many lies that it would surprise me if he hadn't begun believing in his own BS.
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  43. They need to make the russian people hate Johnny foreigner so they don't get angry on Mr Cleptovich back home in Russia instead.
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  44. I do not get the impression that Russia was a society with high levels of trust from Fyodor Dostoevskys books, rather are all caracthers there immoral and criminal, and the book have a cynical and negative view on humanity. It regards humanity as flawed and that nothing could be done to improve it. And from the russian bots you read that every other country, is corrupt, and they assume that USA must be as corrupt and unequal as russia, and that the elite abuse their power, lie and start illegal wars. And their message is that two wrongs makes 1 right. So I think this mindset have a longer history than just from the time of Communism.
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  45.  @rmondave  Yep. Source: Russian governments own made up fake statistics.
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  46. They do so today
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  47. Germany have never taken Moscow. But Sweden, Poland and France have.
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  48. Bitcoin is an idiotic system with a suicide mechanism built into it. The system gets it energy from its users that are giving up CPU (computer power) to it, and in exchange do they get Bitcoins in a process known as "Bitcoin mining". Fanboys of this currency means that just like with real gold and silver you have to sacrifice energy to dig it up from the ground. All the computer power the system gets are then used to enable people from moving Bitcoin money from one Bitcoin account to another. But if people no longer do any Bitcoin mining, then will the system slow down so much that moving Bitcoin money from one place to another cannot be done fast or easily. And that will make people even less interested in being involved in Bitcoins which will kill the interest for this currency even more, and possibly even make the situation worse with fewer Bitcoin miners. And if energy prices goes up, or if the price of Bitcoins falls low... then will it simply not be worth mining any new Bitcoins. You will not make any profit from mining any new Bitcoins as energy costs are higher than any profits you make from Bitcoins. So the system is idiotic, and built to self-destruct. It is of course hilarious when people think that all inflation is caused by money printing and nothing else, and that a fixed amount of money would protect your wealth and provide price stability that will make economic calculations more predictable and thus encourage long term economi growth. Face is that Bitcoin is jumping up and down in price with enormous upswings and rapid downward crashes. Good luck having a company and try to make any long term planning with Bitcoins when the costs for buying raw materials all of a sudden can increase with 500% just like the wages for your workers. And then little more than a month later have the price of Bitcoin crashed, and you cannot get much paid for the products you sell despite you had bought them at previously high prices that was 5 times higher. So now your company is runned at a loss, and its a matter of time before it goes bankrupt. The system is totally unsubstainable. And Bitcoin do today consume more energy than all solar panels in the world produces combined. All for this useless piece of crap.
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  49. So succesful at the battlefield that no one else sees it aside from russian propagandists xD
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  50. It all dependends on the time horizon I think. Any economic prediction is useless if you do not say when a thing is going to happen. And yes a countrys economy might crash, a housing bubble might go bust... but it could take much longer time than predicted, because political interest groups can try to manipulate the system for as long as possible to prevent the russian economy from falling. For 2 years have russia been able to do just that. The question is for how much longer they can continue like this. Personally do I think this cannot go on forever.
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