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Good morning 🇭🇰 Hong Kong! Gloomy day, just like the mood here. We all do what we can. As for me, overcoming my frugality & helping w/ velocity of money & money multiplier by buying coffee ☕️ everyday!!! If I waited 20 mins, I could get it for 20hkd but I like to be at work early
Best thing about going to work early is that u get a few hours of quiet work time, which is nice. And something is relaxing about sitting here sipping coffee & reading & writing & analyzing all by myself.✍️🏻🥳🤓

Nice to be back at the office! Book club👇🏻
cdn.mises.org/Americas%20Gre…
The lesson learned from the lock-downs, shut-downs, containment etc episode & people's adjustment of consumption, whether forced to be at home or through self-restraint is this:

SO MUCH OF OUR CURRENT CONSUMPTION IS NON-ESSENTIAL, and esp in developed markets & even in EM.

So?
Of course, as humans, we always want to be moving about & hopefully upwardly mobile & usually that means material comfort (but also key is psychological & spiritual), the question is then will we define this differently.

As in, so much of our economy is driven by non-essentials.
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More from @Trinhnomics see all

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Trinh Nguyen
@Trinhnomics
American personal income rose 10.5% as they consume less, -13.6% less.

Read the article below. What does it say? Instead of saying Americans, citizens, they’re reduced to just consumers & has a tone of them consuming less as bad & saving more horrible.

reut.rs/2TQumI5
First paragraph of article:

“U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic”
Notice that across all sort of communication, Americans are reduced to just consumers.

Your function in society is to consume & if consumers, which is what these people are, don’t consume, that is bad bad bad.

Let’s look at this assumption of blaming people that save.
Read 14 tweets
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Trinh Nguyen
@Trinhnomics
Agreed, India is the future. That said, no matter how hard investors, politicians, geopolitical strategists, economists & Indians want to attract investment, what matters is the Indian government & the institutions attached with it are motivated & meet people half way w/ policy.
India exports by value peaked around 2012 & 2013, and so on an absolute & relative basis, India has under performed in trade. Its export value is almost on par with Vietnam, although obvious higher, for an economy that is 10 times the size of Vietnam. India needs to look outward.
Of course, I'm talking about merchandise exports. Service export's much better. But to create job for what to be the most populous nation in the world, all engines need to be firing. Remember that to raise consumption & quality of life, people aren't enough. Need purchasing power
Read 7 tweets
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Trinh Nguyen
@Trinhnomics
Here is a thread on macroeconomics. Are you ready? It's for everyone, investors, journalists, students, & people interested in the basics to read the news.

First, u get people throwing words like supply & demand a lot. I'll go through it all using IMF GDP & BOP standards. Okay?
1. A national output is either expressed as production or expenditure. As in, u either create a bunch of stuff, as in,

GDP = gross domestic product
GDP = stuff produced in economy such as
GDP = Agri + Industrial + Services
China does this
GDP = Primary + secondary + tertiary.
2. Some countries can produce a lot of stuff, some can't so they import (think China exporting manu & import raw stuff don't have). If we don't trade, we just eat/consume what we can produce. A production GDP approach doesn't look at demand side. Planned economies use production.
Read 14 tweets

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