KaiserJeep wrote:You Doomers and your doubts are what will end the good times for all of us.
KaiserJeep wrote: .........
So please don't publish any more FUD, at least not until I have had a few more years to feather my nest.
I mean, you were not under the impression that money was real, were you? It's only a way of keeping score in the game of life.
Importantly, the entire revision is almost entirely due to a change in the inflation rate. On a nominal basis, there was virtually no real change at all. In other words, stronger economic growth came from a mathematical adjustment rather than increases in actual economic activity.
KaiserJeep wrote:I meant exactly what I said. The virtual money stored in computers has real value today, it can be spent, exchanged for real estate, food, water, energy, etc. - all because you have total confidence that those digital bits represent value.
If you or somebody else were to realize that there is really nothing there - just a pattern of bits in a computer memory is the literal reality we are talking about - and you were successful in convincing everyone else of the real facts, then BANG the world will end.
baha wrote:KaiserJeep wrote:You Doomers and your doubts are what will end the good times for all of us.
KJ, If that were true you would be toast by now. I have been wishing for the economic reset for 10 years. I even found a whole website of like minded folks so we could all think "DOOM" together
No luck...But I haven't given up yet
KaiserJeep wrote:The world will end when you lose that confidence.
KaiserJeep wrote:Since you mentioned it, gold or other precious metals have no more value than printed pictures on paper. I would not swap food or water or liquor or anything of real value for precious metals, anymore than paper currency. Just because precious metal coins predate printed currency means nothing.
Outcast_Searcher wrote:Just because you can't eat gold doesn't mean it has no value. Would you eat ammunition or the gun that fires it? Would you eat a good pair of boots? And yet those have value.
Pops wrote:Outcast_Searcher wrote:Just because you can't eat gold doesn't mean it has no value. Would you eat ammunition or the gun that fires it? Would you eat a good pair of boots? And yet those have value.
I think the point is a pair of boots has intrinsic value, they protect your feet.
Gold has no intrinsic value to the avg.joe aside from decoration.
Outcast_Searcher wrote:Not if you need a meal or a drink RIGHT NOW. But if you want something to trade after paper currencies aren't trusted (or are trusted far less), then I think it does. Maybe that's my bias, as I tend to try to look decades ahead, vs. just at today or the next 5 minutes.
There’s nothing wrong with madly optimistic appraisals of how technology might benefit human society. But the current drive for a post-human utopia is something else. It’s less a vision for the wholesale migration of humanity to a new a state of being than a quest to transcend all that is human: the body, interdependence, compassion, vulnerability, and complexity. As technology philosophers have been pointing out for years, now, the transhumanist vision too easily reduces all of reality to data, concluding that “humans are nothing but information-processing objects.”
It’s a reduction of human evolution to a video game that someone wins by finding the escape hatch and then letting a few of his BFFs come along for the ride. Will it be Musk, Bezos, Thiel…Zuckerberg? These billionaires are the presumptive winners of the digital economy — the same survival-of-the-fittest business landscape that’s fueling most of this speculation to begin with.
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