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I'm no expert, but my initial thought was similar after reading Deficit Myth-this is a better laid out argument than the general thought that MMT is just money printing.
However, my issue is that once we decide to fund a goal without regard to it's fiat costs, we end up diverting that money from productive goals to "administrative" costs. I work in healthcare and over the last 30 years physicians salaries have stayed relatively flat when accounting for inflation, but the cost of healthcare has gone up significantly. The additional expenditures have gone into the professionalization of healthcare-administration to root out inefficiency (which opposes resiliency, a trait I believe is lacking in current American healthcare), complicated billing and reimbursement rules and the additional overhead of CYA requirements.
My healthcare rants notwithstanding, I think it's fine to say we will print until we see the inflation in their eyes, but in reality the inflation doesn't come until after grift and non-productive endeavors get their (huge) cut. I'm not opposed to universal basic income, nationalized healthcare, free education etc. but it must be done without simply printing money-there must be some restraint and reasonability injected into the funding.
I understand her argument. Now, give that liberty, validation, and laissez faire attitude towards budget and deficits and give that a green light now to a central banker and a bunch of PM's or congresspeople and what do you get?
The median price for a 3 bedroom apartment in Manhattan’s posh upper east side Sutton place district are now comparable in prices to the Cambodian housing market In terms of prices.
ok. That’s a bit misleading. —- what I know about Cambodia is they’ll list a property for 500k. But sell it for much less. This is typical.
I’m aggregating data in Excel spreadsheets now. I will try to build a model of housing prices for cities or suburban areas around cities in emerging markets and comparing them to United States.
It’s going to take some time to aggregate a lot of data. I’ve been using a python package called beautifulsoup to help automate it. It scrapes web data. But the honest truth is data is hard to aggregate. It’s time consuming. —- but I’m building it now
DIFFICULTY LEVEL - HIGH
Method of aggregating the giant dataset which could be easily converted to SQL or online database Is laborious, it can be automated by coding and scraping data off websites that already exist. But there’s inconsistent data. —- there’s protocol problems. It’s a massive undertaking.
Techical analysis of the data will be the more interesting part I believe that it could probably be an invaluable tool and a service business idea Data is not cheap nor easy to aggregate Quality of data is a problem Especially, in opaque nations overseas Lots of research is needed now
Why bother building a Bloomberg Terminal? But now... (More)