Economics talk

[saturnz]

You'd have to make it to the 50-minute mark for that.

if that's the observation you got from the talk, then I'm glad I didn't bother watching the rest of it

someone in this thread described the status quo as "evil", so I'm not sure what the presenter in the clip is waiting for until it becomes corrupted in his mind

 

[konfab]

but unlike gold, the US can just print more and more and more of it, and they can do that in a unilateral fashion and thus create huge distortions globally, not much honour in printing a note for very little cost and putting a $100 sign on it, unless you have a different view of honour.

The US can get away with it because the whole world craves US dollars. They export a significant amount of their inflation because the people around the world trust the US government.

The chickens will eventually come home to roost with the US's monetary policy. And that will be when they will end their welfare state.