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- November report "Is it True, as David Hume (1711 – 1776) postulated that, "Nothing is esteemed a more certain sign of the flourishing conditions of any nation than the lowness of interest"?" published. https://bit.ly/2y4LJZQ
- SRSrocco put together a graph tracking production for the top-four gold producers. You will note a pretty consistent downward trend. If these forecasts hold, we are looking at a 23% drop in output over less than a decade. http://bit.ly/2I5FJVb http://bit.ly/2D3w91e
- Ron Paul: The Federal Reserve Is King of the Price Fixers https://t.co/tCdD6vVgPz @SchiffGold
- (1/2) Global stock markets are now nearly as oversold as at the market low in October 1987. Expect a powerful and tradable rally of 20% or so from here. Cover all shorts and go long the most oversold stocks. However, do not expect new highs.
- A healthy monsoon season is showing an uptick in Indian farmers returning to the gold market to buy: https://t.co/KSA87hfWvw
- Goldman pointed to several fundamental weaknesses it sees in cryptos that make gold a better long-term value. http://bit.ly/2z6Nt7l
- Bitcoin is a bit of a lobster pot — it’s easy to get in, but hard to get out. Gold also offers investors 4,000 years of history as a store of value, and that’s looking quite appealing right now. http://bit.ly/2DrHoEJ
- If Spending Is Our Military Strategy, Our Strategy Is Bankrupt
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- The world does not envy America, but may well resent our ability to borrow without having to repay, or consume without having to produce!
Sunday, August 23, 2015
What if the Luddite fallacy isn't a fallacy forever?
Personally I'm not fond of the neoluddite freak out going on right now, but I do think there is a little truth to it. It's pretty logical that we have been working toward a low-effort high yield economy. So it only makes sense that underemployment is becoming a trend. I personally believe the emerging gig/sharing/freelance economy is a natural market reaction. But the problem is that in the long term these jobs will become more and more subjective, to the point where a human presence would be pure novelty. Not to say we're anywhere near the point of a novelty economy, but it's definitely worth planning ahead of. I'm asking here because the only thing I ever hear as a solution is UBIG, reverse income tax and citizens dividend. Some even say that we'll naturally abandon money all together. Not to say I would reject money for nothing, but when all is said and done it may be too much to ask and abolishing money would take a catastrophic transition.