I saw this today and pondered over it for an hour.
We never discussed this idea in my rural Alabama high school. It was around two years later....I sat reading a article over finance (at the base library), and came to grasp the printing of money factor.
Even if you sat in a coffee shop today, and engaged in conversation on this idea....I suspect that forty-percent of people would not grasp what 'printing' really means or how our economy performs (past, present or future).
What Milei says? Well....to be honest, most colleges are already 'printing' degrees and handing them out to stupid people.....making them think they are wise enough for a college degree, when they aren't that wise or intellectual.
I sat this week watching some 24-year old 'kid' (female) who was fairly disturbed. She'd finished up college back in the summer of 2023, and her job prospects (now going 8 months) were two temp-jobs (came and went) and currently a part-time job at some coffee shop (I assume shift-manager). She was peeved over the value of the two degrees she had (one of which related to acting), and that she spoke a second language. In her mind, the degrees were supposed to open doors, and a real salary.
There's a crazy reality developing....where you feel like some folks (college-bound and college-delivered folks)....are developing into some kind of cult.
I wonder at this point since the pandemic, if there is a country that isn't just printing money to try and stay afloat.
ReplyDeleteBack in 2022, some organization came out and said the most economically stable countries (top five) were the US, China, India, Germany and Japan.
ReplyDeleteIf you brought up the five today...none would really pass a 4-star rating on stability. Small contrives...like Switzerland probably could pass, but then you get into the cost burden put upon individuals to survive in their society.
I might rank Qatar/Dubai as stable, but both rank only because oil still pumps up their economy.
This brings me to the 1929 question, if various countries have passed the depth we met in 1929. Commercial properties (hotels, malls, warehouses) are being turned over weekly now to banks, and they can't salvage the property. This is some problem we didn't have in 1929.
Some rumors have started up that the MLB fan base in 2024...aren't going to be willing to pay $40 per seat. If so, and you end up with nightly numbers of 12,000 in attendance...instead of 25,000...how would you meet this $150-mil payroll per year? I'm not seeing how MLB survives. Same story over pro-Wrestling and $80 tickets for that. Same story for NFL tickets for $100.
There's some collapse coming in 2024, which will go past 1929 in depth, and linger for several years.