Discover and read the best of Twitter Threads about #GotIntermediation
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So many wrong things in this @mileskimball
article. Let me count…
• When you spend down your balance-sheet assets, the money vanishes. Like you consumed it.
• When you don’t spend down your wealth, you are "making resources available," so we have more assets to "invest." 1/
article. Let me count…
• When you spend down your balance-sheet assets, the money vanishes. Like you consumed it.
• When you don’t spend down your wealth, you are "making resources available," so we have more assets to "invest." 1/
@mileskimball • Less consumption spending, slower wealth turnover, means we have more stuff.
• Spending is “appropriating resources for yourself,” rather than causing production of new stuff.
• Reducing C in C+I…magically increases I! /2
• Spending is “appropriating resources for yourself,” rather than causing production of new stuff.
• Reducing C in C+I…magically increases I! /2
@mileskimball • $125T in highly concentrated wealth results in more investment than $125T in widely distributed wealth. #GotIntermediation?
• Philanthropy has ever in history, will ever, come even vaguely close to “taking care of the poor,” distributing "resources" "efficiently." /3
• Philanthropy has ever in history, will ever, come even vaguely close to “taking care of the poor,” distributing "resources" "efficiently." /3
