Macro Monkey
1.1K posts
Macro Monkey
@Macro_Monkey_
A small simian in a big world
Occupied Dumnonian Land Katılım Ağustos 2024
637 Takip Edilen163 Takipçiler
@AscendedYield Lookup the only 2 Somali billionaires: same story
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@AscendedYield If your minmaxing benefits and wages by staying at 12k pa then a higher minimum wage just means less hours worked for the same comp.
The issue is marginal net income (after taxes benefits and wages) goes down over (imo only starts to pick up again around 35k)
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People raise important issues. The minimum wage helps in some cases, but it can also create unintended consequences that leave more people worse off, especially the very people policymakers were originally trying to help most.
It's a blunt tool for issues that, in most cases, could be addressed through other policies.
Britain has seen the most aggressive minimum wage hikes relative to median income in recent years, and we are no better off for it, especially at the lower end of the income distribution. I think this is not controversial to point out.
camilo@AscendedYield
If you support the minimum wage, tell me why.
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@trevgoes4th @AscendedYield @trevgoes4th Taking the synthesis tho i reckon there’s a strong argument in saying that the uk was much more vulnerable to the post crash regs than the US and the impact sped up a long running trend
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@trevgoes4th @AscendedYield @trevgoes4th Find it hard to believe that minor differences in 2010s Basel implementations between the UK and US are a sufficient explanation for whats a serious and pronounced regime shift since the 50s and at latest the late 90s
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Big fan of @AscendedYield but his framing here is wrong. "Britain sold off its assets" is very misleading. It's a leftist soundbite and it annoys me when people use it.
When people read this, they assume state assets when in reality it was "British people" who sold off their assets.
Ask yourself where all the new money went to. First of all, the state took their cut in taxes and then spent it on welfare.
The shareholders remaining funds went on other assets. Funds bought other companies, private sharegolders bought houses, and othe investments but then also ploughed them into consumer goods, cars, holidays, etc.
The problem is not that we sold stuff, it is that we just don't create MORE stuff.
Tell me where I am wrong.
@RollingHedge @Albrochier @MaximusDaveus @ColeFusionHQ @UnderSneege @db_fink @John_Stepek @Frencheconomics @BearJFK @EspressoLucid @CALEBWAREAGLE7 @astuteobserv @steventduffy
camilo@AscendedYield
How was this external position funded, you ask? From 1997 to 2010, Britain sold off swathes of its industrial, financial, and cultural base to foreign buyers. This was not foreign direct investment in new capacity. It was the transfer of control of national assets out of the UK.
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@trevgoes4th @AscendedYield @trevgoes4th
Personally I’m of the opinion the real killer for LSE was the ftse shift out of tech and risk equity towards a purely blue chip focus following the dotcom crash.
A blue chip market leads to a blue chip economy, slow moving, extractive and rent seeking
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@trevgoes4th @AscendedYield Frankly I think this has been the question Britain has been asking itself since the 60s so would genuinely love to hear ideas as I’ve thought about it and am still puzzled
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@trevgoes4th @AscendedYield @trevgoes4th
2) sure Britain “should have” but how could it?
This is not a rhetorical question, I would love to hear how it should’ve and can create a different better asset base?
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@trevgoes4th @AscendedYield @trevgoes4th it would be churlish to say all cases of foreign takeovers have just been asset stripping but the fact that some companies have been asset stripped by foreign PE highlights proves that not all investors are equal from a long run investment perspective
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@trevgoes4th @AscendedYield @trevgoes4th where you are wrong and @AscendedYield is right is that your assuming perfect substitutability between investors.
This is not the case and so you are ignoring the different incentive structures that cause business decisions and their consequences
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@tomhfh @realhansard Maybe just don’t make the interest compound?
Or just don’t charge interest?
You can make it taxpayer unsubsidised without making it a way of funding general gov revenue it’s not binary lol
Or just tie it to wage growth?
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If we want university fees and their associated Grad Tax to be cut, we need a hell of a lot fewer people going to university.
When it was entirely taxpayer subsidised, <10% of people went to university.
When fees were finally introduced, it was to cover this number more than tripling to 33%.
Today 50% go, and fees had to rise to cover that.
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What @AaronBastani and @OliDugmore are missing is that I was 17 when I took student finance. I couldn’t buy a pint but had to take a loan that added 6k a year in interest 💣
Aaron Bastani@AaronBastani
Think this is sensible. At the very least you’d cap permissible interest over repayment period (say £5k) and reduce interest on students loans to 1%. I’d scrap loans entirely, personally, but we are going to need to land on something like that at an absolute minimum.
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Further education was far less accessible when the rest of the panel went to university. Has Mr Dugmore outlined who - if anyone - he believes should be restricted from a university education? What is the point of this whingefest circuit tour otherwise
Peter Stefanovic@PeterStefanovi2
“The combined tuition fees of the entire Question Time panel would not cover my cost for 1 year of uni. Is that fair?” @OliDugmore It’s absolutely NOT fair. This outrageous scandal must end
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@AaronBastani @AaronBastani Very ww2 coded often reflect on the fact that Czechoslovakia had more Germans than Slovaks prior to its annexation.
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I don’t think many Europeans grasp how chaotic and amorphous these borders and identities have been.
In 1919 Armenia, Azerbaijan and Georgia all declared independence - in the same city! (Tbilisi)
My grandmother was a Jew, who spoke Turkish, and was Iranian.
Rahim Shaliyev@rahimsaliyev
Former Speaker of the National Assembly of Azerbaijan, Rasul Guliyev: "Iranian Azeris consider themselves Iranians. Russia occupied us, and we ended up under Russian rule. Our homeland is Iran. The idea of liberating Iranian Azerbaijan is idiocy."
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