Alex Christoforou
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
Robert Burns: “Facts are chiels that winna ding.”
I wrote that the American economy is one big bubble, not based on any intrinsic values. That’s why it makes me laugh when I hear people saying the American economy is strong. You mentioned NVIDIA, but for me the best example is Tesla. Let’s look at the numbers: in 2024, Tesla sold 1.79 million cars, while Toyota sold 11 million. Now let’s compare their stock prices and market caps. Tesla’s stock price is $302 per share, while Toyota’s is $180 per share. Tesla’s market cap is $976 billion, compared to Toyota’s $235 billion. So, can anyone explain to me how… Read more »
Actually, Keynes spoke of a million dollars, not a billion. Money was still worth something then.
“If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has”.
– John Maynard Keynes, as quoted in The Economist (13 February 1982), p. 11
I love the analogy Michael Hudson makes about the shop: you buy things on credit, give the shop an IOU, and at some point, the shop asks you to pay back your debt. You tell the shopkeeper you can’t pay it back and instead tell them to give your IOU to their supplier for products. Eventually, this unpayable IOU starts circulating as currency. In this analogy, the unpayable IOU represents the American dollar system. If one day this system collapses, we will all suffer. For example, China’s economy is built on exports—who will it export to if Western economies collapse?… Read more »
“He ( Trump ) pretended this was done without his knowledge”
Yet Another Epohanism for “LYING”.
LOLOLOL