Oddbean new post about login | logout This clip from Jared Bernstein, Chair of the council of economic advisors, may help alleviate a fear to those who believe “those in power” are smarter than you. https://youtu.be/RRJ7NUWYyEM?feature=shared Economics is simple….1) prices fall to the marginal cost of production in a free market and 2) We trade with each other (all over the world) to gain more value. It just looks hard through a system trying to deceive you to retain its power over you.
It's over 🙂
Always was...
Not really now the fear is the world is run by morons who don’t understand how shit actually works because they’re so aloof. 🤦🏼 Anyway. Takes all kinds. I for one won’t be underestimating any of it. And it’s not one or the other either, there will be examples of all kinds out of billions of people standard deviation is still a thing far as I know also so stay frosty y’all.
Scary stuff!
Wow….seriously wow….that is some advisor!! 🫠
His education really prepared him for this https://image.nostr.build/039de7aca219bed6ac5f4a4260494908be4090a3882caab6ef272cc5921c8e47.jpg
Hey Jeff, while this man in the clip is clearly a buffoon, this clip is lifted from the documentary, Finding the Money, which is a completely bullshit-propaganda movie by Stephanie Kelton, highlighting the nonsensical “advantages” of Modern Monetary Theory.
Oops. Looks like you were already aware. LOL. nostr:note1h33afxwdf8kg0chmvqexatrdk02tpzk9gy467rmg7rfvs50j4zuq0lp24q
Oof
Guys like this clown would've starved to death a long time ago, in a world where you can't just get paid by the government to be a useless piece of shit.
This has got to be a deep fake.
What a boost of confidence for all of us Listening to this fellow suddenly elevates us to the status of flat out geniuses 😂 Saw this on Swan but it needs to be broadcasted and spread far and wide. And yes thank you for reminding us of the simplicity of economic principles 🙏
I agree that this is very scary, BUT even more scary is the fact that most of the politicians have never graduated or have any higher education. e.g. in Austria/Germany our politicians dealing with millions of budgets and have never worked in the private industry nor understand the basic economic principles. Usually they start their political career by supporting the party in early days when they where young and the climb the latter up the food chain until they have real political power and influence. Some politician have worked as cab driver or dentist assistant before leading a country. That is what I called really scary!
Jeff, are we certain this is a real video? I only see this snippet and cannot find the whole thing. Makes me wonder if it's not fake. It would not surprise me in the least if this video was 100% legit but I have to wonder (I hate that I have to wonder). Is there a link to the longer video from which this came?
Its from this insane documentary by Stephanie Kelton about benefits of MMT. I dont know where you can watch it but I know its behind paywall. https://www.youtube.com/watch?v=R47h_ux-nE8
This is a key point. Most people believe the people in power, especially in the finance world, are way smarter cuz they “understand the complexities” of the fiat system. But the truth is, there’s no complexity, it’s simply a scam, where the obfuscation and confusion is on purpose.
Glorious
