Monday, February 5, 2018

Some berserkazoid news

And some evening reading:

FT Alphaville - someone on the internet was wrong. Apparently the idiots talking about US debt were wrong! This has never happened before!

Jared Bernstein - guess who's getting the raises? Yeah. The rich. Who don't consume as much as they buy assets. Factor that into your "inflation" estimates, Jerome Powell!

WaPo - bitcoin is my retirement plan! Yup... fork, done. By the way, this bit:
Three years earlier, Melin had been attending Indiana University Southeast, commuting from his mother’s house. He could not shake the feeling that he was paying for something that was not worthwhile. He was learning more from economics podcasts than he was from his classes.
is entirely reasonable, because I've realized that all undergrad economics is nothing but a rubber-stamp degree for the idiot entitled children of the bourgeoisie who are too stupid to graduate in accounting. No undergrad economics is worthwhile, and you really can learn more just by reading a few blogs.

So he dropped out and pulled the remaining $22,000 from an education fund his mother had set up for him. He invested in cryptocurrency.
That's where this guy's cunning plan starts to go wrong. Oh well... the little right-wing cuntbro will learn a lot about libertarian economic theory over the next 60 years as he works as a fry cook in Kentucky for $7.25/hr. because he blew all mommy's dough. Hey, maybe one day he can graduate to coal mining?

Undark - OMG POLE REVERSAL! The Earth's magnetic poles are about to reverse! Buy bitcoi-
Solar energetic particles can rip through the sensitive miniature electronics of the growing number of satellites circling the Earth, badly damaging them. The satellite timing systems that govern electric grids would be likely to fail. The grid’s transformers could be torched en masse. Because grids are so tightly coupled with each other, failure would race across the globe, causing a domino run of blackouts that could last for decades.
...okay, don't buy bitcoin then. Buy... um... gold?

Vanity Fair - the Mooch recalls his ten days in the swamp. Yes, Trump's White House really is that fucked.

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