Neither the stock market nor the dollar are ponzi. For one thing, the value of the dollar trends downward not upward.
The value of stocks comes from expectations about future corporate profits. Sure, ponzi meme stonks happen like $GME, but the stock market as a whole isn't a ponzi scheme.
Ponzi currencies mean "deflation". The dollar is a managed currency that "inflates". The value we place on a dollar isn't some arbitrary fiction, it comes from its utility and fungibility, as well as certain government demands.
Now gold is certainly ponzi. The value people place on gold comes purely from what future people will pay for it.
Social security is not a ponzi scheme. The value of your social security benefits aren't defined by trying to convince future people to buy into it.
Sure, your payments now go to current retirees, and when you retire, your payments will come from future young people paying into the system. But the "value" isn't determined by ponzi mechanics.
The value is determine by government rules instead. The government is going to mess with the rules forcing people to contribute to the system and limiting people taking money out of the system. Your expectations of your retirement is betting on future Congress decisions.

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More from @ErrataRob

Feb 7
It is partisan. Because republicans refused to participate. Because most are guilty of fomenting unrest by opposing the peaceful transfer of power.
It’s been over a year and republicans still haven’t cited any evidence substantiating their claims of election fraud. Yet they still claim the election was stolen.
You are a patriot if you fight a stolen election with evidence.

Claiming an election was stolen without evidence makes you the opposite of a patriot.
Read 4 tweets
Feb 7
Fact-check: It's not a nuclear power plant. It's an old steel plant shut down before the 2008 summer Olympics because of the enormous air pollution it caused. Like power plants, steel plants need cooling towers, too.
Not all nuclear power plants have towers that look like this.

Most towers that look like this are not for nuclear power plants.
Here's an article on it:
olympics.com/ioc/news/beiji…
Read 7 tweets
Feb 5
1/ One of the things that fascinates me about journalism is the distinctive, objective difference in the way that the Associate Press reports news and the way the the New York Times reports news.

The AP prides itself on neutrality, the NYTimes prides itself on interpretation.
2/ Take today's daily Twitter outrage as an example. The GOP passes a resolution censuring a couple of its members. You can read the full text of their resolution here:
int.nyt.com/data/documentt…
3/ Both the AP and NYTimes wrote nearly identical, and yet, completely different (sic) stories. You can see the difference in their titles.

The NYTimes interprets what the resolution said, the AP describes it neutrally.
Read 16 tweets
Feb 4
Kids these days don't understand: when we grew up, we NEVER knew what time it was. Think it through: before the Internet, how would you know what time to set your clock to?
Big Ben (in London) is not the clock but the bell. People are confused about this today, but back in the day, it was obvious: people set their own clocks according to hearing Big Ben.
In the middle ages, the current time was a function of the church. They were the ones with bell towers that would ring at certain times. The current time is whatever they said it was.
Read 24 tweets
Feb 3
So "Daimler" has officially renamed itself "Mercedes-Benz", which comes as a surprise to most Americans who assumed that was the name of the company to begin with.
Daimler and Benz were two German automakers from the 1800s that merged at the start of the 1900s (Daimler-Benz). That was the company name. They made a popular car called the "Mercedes", named after a partner's daughter.
The auto industry was this tiny niche thing making toys for rich people and racing machines. The "Mercedes" car was one of the first true cars, rather than a horseless carriage with a motor replacing a horse.
Read 11 tweets
Feb 3
So fact checking: about 10 footballers die per year due to heart problems.
The number plummeted in 2020 when they stopped playing due to covid.
The numbers doubled in 2021 (21 players).

From vaccine? From having contracted covid? From schedule change?
en.wikipedia.org/wiki/List_of_a…
Covid vaccines causes increase number of myocarditis in young athletic males.
Covid disease cause 1000 that increase of myocarditis in young athletic males.

QED: get your soccer team vaccinated if you care about myocarditis
Probably. Unfortunately, studies don't break it down by athletes. To argue that soccer players are more at risk from vaccine than disease is reasonable and not information if you got better numbers than I do.
Read 6 tweets

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