Calculator jokes hit harder when it takes a tic View quoted note →

Sad sad but 🚀 View quoted note →

🧐 View quoted note →

🤢🤔 View quoted note →

Tuttle those truths View quoted note →

Oh man, I am really appreciative for Lyn’s insight into the 2008 meltdown. If you have a copy, skip to page 276-281. In those 5 pages, I understood in language I could understand more than all I’ve heard or watched before. “If there is 63 times as much total debt in the system (IOUs for dollars) as there is base money (actual dollars), then perhaps most of that debt is unrealistic and needs to all get wiped away? Or should policy makers step in and prevent that collapse from happening?” Thanks for taking the time to write Broken Money @Lyn Alden. I’m chipping through it weekly as I sit at swimming lessons. This helped me to realise the ‘dollar rug’ and ‘socialised bail out’. I kind of got it, but this helped. Also, liked the analogy of 63 kids playing musical chairs with 1 chair, and ‘so long as the music played (the banks could trust the other was solvent), the music played’; until it didn’t.

“You either go with an authority that helps you remove 99.99% of the existing garbage or you use an approach that, much like cryptography, makes the cost of putting garbage in front of your eyes asymmetrically expensive.” View quoted note →

New phone, who dis? #introductions