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Jesse Colombo
@TheBubbleBubble
, 4 tweets, 2 min read Read on Twitter
Economist Joseph Stiglitz's call for "progressive capitalism" to "save our broken economic system from itself" is an absolute, disingenuous joke:

Why is Joseph Stiglitz's call for "progressive capitalism" a joke? Because there is ZERO mention of the actual drivers of our inequality and other ills of our system.

Capitalism is not broken. The problem is that we haven't had sound money since 1971:
Our lack of sound money + the actions of the Fed have inflated a massive bubble in household wealth that has benefited the rich over the poor.

That is the explanation for our inequality, folks. See my take:

forbes.com/sites/jessecol…
If anyone harps on "our broken capitalist system" but doesn't even mention the role of fiat currency, they need to be put in their place and told "you are a liar!":

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More from @TheBubbleBubble see all

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Jesse Colombo
@TheBubbleBubble
Pinterest is yet another multibillion dollar profitless unicorn like Lyft, Uber, WeWork, etc. This unicorn phenomenon is a byproduct of central bank stimulus. It's nothing more than a bubble. Most unicorns and startups will prove to be malinvestments.

There are so many of these damn unicorns popping up out of nowhere that it's impossible to keep track of and comment on them all.

But here's the only thing you need to know: they are acting as a holding container for central bank liquidity that is sloshing all over the globe.
I feel like I'm playing "whack-a-mole" with all these damn unicorns. They can all go to hell, as far as I'm concerned.

I hate them because I know what they represent: the coming economic depression and mass human suffering.

Read 4 tweets
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Jesse Colombo
@TheBubbleBubble
Incredible. Businessweek's new cover asks "Is Inflation Dead?":

Businessweek's new cover comes just days after I wrote a detailed piece explaining how everyone is fooled by the "low inflation" myth and that inflation is in asset prices (ie., dangerous bubbles). See my take:

zerohedge.com/news/2019-04-1…
This "low inflation" myth is a meme that is absolutely everywhere now. It's causing economists to demand that interest rates stay too low for too long even as asset prices are bubbling up to the moon.

Economists are *completely* ignoring asset bubbles.

Read 4 tweets
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Jesse Colombo
@TheBubbleBubble
Want to know why the poor and middle class can no longer afford college and higher education? The answer is found in the chart below.

The dollar used to be backed by gold. Now, it's not backed by anything, so it has lost much of its value, causing the cost of living to soar.
Stop blaming capitalism for the failures of fiat ("paper") currency!

That's what Bernie Sanders, AOC, and Elizabeth Warren do. They are wrong.

We need to stop listening to them and start listening to people who advocate for sound money & free markets.

Want cheap college & healthcare? The answer is free markets and sound money that is actually backed by something and can't be debased/devalued/printed.

Socialism is only going to drag us all down. We'll all be poor together. That's the wrong path, folks.

Read 4 tweets

Related threads

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Michael Beaton
@mhbx
@RKBower1 1/ It is the question I have been working to get to all along.

Your concern was the driving concern of the constitutional principles: How to diffuse power so to minimize it corrosive, corruptive influence.

The functions of government will be done, whatever name you call them.
@RKBower1 2/ To take an old example in our discussions: The functions of enforcing contracts requires a substrate of law. This law has to adapt to current conditions. In just this sentence is the seeds for each of the 3 main governmental functions.
Justice, Legislative, Executive.
@RKBower1 3/ The only question is what form will these functions be manifested, made operational in time & space. For ex, could be all reside in a King, or a Dictator, a Church, a CEO of a dominant multinational corp, Or Big Brother. Or "Gilead", or a benign Roman Emperor, or a venal one.
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The Epoch Times
@EpochTimes
When most people think of #Communism, they often understand it as an #economic system for the sharing of wealth. Yet communism is anything but that.

It pushes for a seizure of all private property, and all means of production.

Commentary by @JoshJPhilipp theepochtimes.com/what-are-the-r…
“Communism abolishes eternal truths, it abolishes all religion, and all morality.”

“The bourgeois family will vanish as a matter of course when its complement vanishes, and both will vanish with the vanishing of capital.”
Both above quotes are from “The Communist Manifesto,” and both illustrate the true goals of #Communism.
Read 3 tweets
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Lewis Cohen
@NYcryptolawyer
Saturday morning - time for kids cartoons and ... a (ramen-free) Twitter thread on tokens and securities law! Today’s starting point: this excellent article (decryptmedia.com/6142/will-cons…) by Guillermo Jimenez in Decrypt.
2/ Jimenez looks at the concept of “consumer token offerings” through the lens of the recent sales by FOAM and Civil, companies backed by @ConsenSys. Both sales were open to the general public and not limited only to “accredited investors”.
3/ Why are these sales and how they were conducted so important? This goes to the heart of what in my view is the most exciting aspect of #valuetechnology: the ability to use the tools that comprise “#blockchain technology” to create new business models.
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Sami Schalk
@DrSamiSchalk
I just had this thought “OMG I haven’t published anything in so long! I’m a mess.”

Follow up thought: “I published a book a year ago. I’ve been promoting it ever since & working on the next one & publishing public writing. That thought is capitalism speaking, not me.”
I have to actively work to unlearn the hyper-productivity I once valued more than my own happiness or health. I have to actively resist the pressure to outpace academic #capitalism. I have to critique the system, not myself.

#academictwitter #capitalismkills #workinprogress
Addendum: Unless, of course, I am perpetuating oppressive systems & doing harm. Then, I need to critique & examine myself. But most of the time, it’s the system. 🙃
Read 3 tweets
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Per Bylund
@PerBylund
The term #capitalism is highly confusing. The definition is clear enough: the private ownership of the means of production (capital). But the implications are very different depending on one's political or economic perspective. Both are right and wrong. Let's take a look at them.
Politically speaking, private ownership of the means of production provides owners with power. Why? Because society is dependent on production of value, and production is undertaken using capital. Whoever has ownership of capital can then influence society. Consequently, it is
only intuitive that owners of immense capital can make demands from policy-makers, who need to at least consider this perspective when making new laws. So the power of the state (usually thought of as the power of "the people") is in a sense limited by capital ownership. And, no
Read 19 tweets
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Adam Klasfeld
@KlasfeldReports
Reza Zarrab watchers: We're less than an hour away from Day 2 of testimony. On Weds., we heard of a "45 to 50 million" bribe to Turkey's economic minister and "a few billion" in complex bank transactions. Day 1 recap here, & some thoughts/updates to follow courthousenews.com/turkish-gold-t…
* ex-economic minister - I ran out of room in the tweet for additional context, even with 280 characters. Lots of revelations.
This appeared on the docket yesterday: Halkbank manager Mehmet Atilla's attorneys "object vigorously" to a future expert witness's testimony on the rationale of U.S. sanctions against Iran - replete with references to terrorism documentcloud.org/documents/4315…
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