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Welcome to the YOLO Economy

1 pointsby luisoboabout 4 years ago

1 comment

vagrantJinabout 4 years ago
I make the claim that it&#x27;s the natural outcome of excessive financialization that no one understands.<p>That being the situation it&#x27;s no surprise that distrust of the blackbox economics induces a few people to pull the random simple levers, just to see what happens. The system responds and everyone and their grandmother comes to the realization that bankers and their MBA&#x27;s know as much about investment as their left big toenail. The veil of psuedo-science, heavy mathematics are just smoke and mirrors to obfuscate the simple levers.<p>Earning 400K a year with an advanced degree from Wharton in an esteemed financial institutiom has to be justified with mind-boggling complexity so as the title of &quot;expert&quot; is retained somehow.<p>That&#x27;s not to say I agree with anyone having to pull a lever and making a fortune whenever they feel like it, nor do I think the myth of free markets should persist when it&#x27;s convenient. Proper regulation, a strong hand on taxation and debt should make any economy work reasonably well, respond to shocks without resorting to voodoo and making money a product of work rather than interest.