As many problems as the U.S. has, it still has freedom of speech, which I cherish. Just look at the countries below. People think we’re in one world, but we’re not. The concept of “Western Society” is still very real, as the concentration of oppressive, intrusive, horrific governments is all clustered in a very specific part of the planet.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
There is a topic I believe is going to be exceptionally important over the next decade, and that is Central Bank Digital Currencies. Let me be clear at the outset that I am not a professional economist, nor am I a CBDC expert. I do have a couple of extra IQ points to rub together, however, and for both my sake and yours, I wanted to try to educate myself about this crucial topic.
It wasn’t all fun and games; reading some of the academia about this subject doesn’t exactly crackle with warm-blooded humanity, as with this excerpt:
When households endogenously select into banked and unbanked, the introduction of a CBDC, which pays interest and is assumed to be immune to theft, can be Pareto improving and always increases welfare of at least unbanked households. The economic mechanism driving the welfare implications focuses on the interaction between the new monetary policy tool introduced by an interest-bearing CBDC and banks’ limited commitment.FEDS Notes, November 9, 2020, “Central Bank Digital Currency: A Literature Review”
The looniness keeps out-loonying itself with every passing day. The $900 billion “stimulus” bill, the latest battleship full of free money, breezed through Congress and landed on the President’s desk. To everyone’s surprise, he didn’t sign it, but instead said that the life-changing $600 stipend that each citizen was going to get, he said it should be over three times that much. The market sold off quickly (red arrow). As you can see, the selling didn’t last.(more…)
You have a next-door neighbor. His name is Sam. He seems like a decent guy and seems to do all right for himself. And, for the purposes of this allegory, you happen to know a lot about Sam’s financial situation.
First off, he makes a good living. He pulls down $200,000 a year. Impressive! So he is able to sell whatever goods and services he has available and is willing to provide for that sum each year. Well done, Sam. It’s a good income.
Oh, he’s also $250,000 in debt. But big deal, right? After all, plenty of people have debt. Mortgages, for one thing. Debt is part of life. he’s on time with his payments. So lay off. His “debt to annual production” is 125%.(more…)