✨

Blasted.

Great. Get on it, then. Der’s gold in dem dar asteroids.

But asteroids are easy to mine?

More of this.

What?

Remember, it’s only genocide when Europeans do it.

This is sparkling colonialism.

Soft Cell — Tainted Love

How did you get my picture?

We see the appeal to middle and upper management.

If only there was a simple way to find out.

Won’t let me upload directly. Here’s a link: https://imgur.com/a/FwoVHO2

I’m not sure I agree that we have problematic debt or affordability issues — at least not ones that artificially constraining the money supply would solve.

There are short-term cost price inflation problems like the cost of eggs due to an avian cull after a bird flu outbreak. That’s not a problem caused by printing money.

Ditto oil shocks. An affordability crisis unrelated to money supply.

Then we get to long-term affordability problems like housing. Housing is expensive due to policies that constrain new construction (NIMBYs) like parking requirements, supposed environmental concerns (on dense urban infill construction?) and the like.

But what makes housing really expensive is the financialization of homeownership. 100 years ago, if you took a loan on a house, the term was typically five years. The concept of a mortgage then was more like the concept of a title loan today. There’s remnants of this idea today in the game Monopoly — you buy a home cash, and if you run out of cash you mortgage the property — get some quick cash but sign the income over to the bank until you pay off the mortgage.

Now with 30 year loans, you’re really just renting your house and the bank is the landlord. But the 30 year loans jacks up the sale price which benefits the seller, the realtor, the broker, the city/state/whatever that collects property tax and the bank that actually owns the home until you pay it off.

Again, not a problem of money supply.

I’d challenge anyone who thinks the gold standard is a solution to read any book on modern monetary theory (MMT) and tell me they still think so after. Stephanie Kelton is a great MMT theorist.

In a nutshell, MMT says that the only constraint on a fiat currency issuer’s ability to print money is their tolerance for inflation. Which I don’t think gold bugs would like but would be forced to agree with.

I saw the yakherds riding Honda motorcycles all over Gansu. Seems like a blast.

Glad we agree. 😄

How does tying the world’s economic productivity to the amount of shiny rocks currently unearthed help anything? There were constant financial panics under the gold standard.

No, but it will gladly pretend to understand it. For a price.

Got room for one more at the ranch?

At least after hours of arguing with a bot and burning tons of money and energy you have a pile of code you can’t understand without paying a chatbot.

I’ll do the same if you can convert 2.34 days into seconds in your head. Now!

You use non-base 10 units all the time. You’re weirdly quiet on that point.