Hello FMs. I open this humble thread with an admission: for most of my life I've been an economic imbecile. Somehow I made it through two college degrees having never taken an ECON 101 of any kind. The recent presidential election, and the 2024 talk of "Vibecession" (an economic downturn based much more on social psychology than fundamentals) made me feel that WAY too much air time was being placed on economics with shockingly little actual info. Lately I'm trying to actually read stuff.

The Trump administration must be an Econ professor's wet dream. It's like a laboratory of all the wild things someone could do, and the pronounced effects those actions will have.

Today's topic of interest: A GOP spending bill that farts in the face of deficit concerns and a creaking bond market. In other words, our recently downgraded credit ratings are based on our accumulation of debt, which is a challenge for selling bonds because we're now a less reliable borrower. This changes the percent yield on them, and our legislature is pointing this trend in one direction (again, as far as my ignorant ass knows).

I've absorbed a ton of interesting stuff on China, and US economy vs China economy in our escalating trade war, but I'll wait until I can share an actual major point about that instead of just being the guy who says, "Hey, did ya know....... Wild, right?" because that's about all I have so far on that.

The first thing to understand is there is economics and then there is Economics.

Theoretical economics of the kind that the Chicago School, Milton Friedman and Friedrich Hayek (god forbid fucking Freakonomics) proposed is absolute bullshit on a stick. It's no better than ideological fantasizing. So when you read or hear about Economics, just remember that is isn't in the remotest way a scientific pursuit.

Actual Economics is studying human behavior, markets etc and then seeing patterns and formulating theories from there. Friedman started with an ideological position then formatted a concept of human behavior around that. This Neo-classical Economics has no real connection to actual human experience and that political parties implemented it's bullshit theories played a massive role in the reason for our current state of "Enshitifaction".

What we should basically cover is that the bill always gets paid, mostly if not all by the the poorest and with most in need.

That's your modern (kapitalizm) economics 101.

Gramsci wrote: Sat May 24, 2025 6:59 am Actual Economics is studying human behavior, markets etc and then seeing patterns and formulating theories from there. Friedman started with an ideological position then formatted a concept of human behavior around that. This Neo-classical Economics has no real connection to actual human experience and that political parties implemented it's bullshit theories played a massive role in the reason for our current state of "Enshitifaction".

Yeah, that's right where my curiosity puts me. I suppose my curiosity has tended to put me onto a kind of Keynesian idea, as far as the theoretical stuff goes. But really I feel like right now to the casual observer, just watching brash policy moves and seeing markets react is enough of a head full without subscribing to some grand manifesto.

Where is the poll option of "I would like to know LESS about this subject"?

ChudFusk wrote: Sat May 24, 2025 3:19 pm Where is the poll option of "I would like to know LESS about this subject"?

oh, I see you. You're such a Marxist bitch, John.

Lu Zwei wrote: Sat May 24, 2025 3:32 pm

ChudFusk wrote: Sat May 24, 2025 3:19 pm Where is the poll option of "I would like to know LESS about this subject"?

oh, I see you. You're such a Marxist bitch, John.

This is what a Google Image search for "marxist bitch" came up with:


I dunno

ChudFusk wrote: Sat May 24, 2025 3:38 pm

Lu Zwei wrote: Sat May 24, 2025 3:32 pm

ChudFusk wrote: Sat May 24, 2025 3:19 pm Where is the poll option of "I would like to know LESS about this subject"?

oh, I see you. You're such a Marxist bitch, John.

This is what a Google Image search for "marxist bitch" came up with:

I dunno

WOULD!?

I'm sorry everyone

You're welcome!