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Comment Re: Who cares? (Score 1) 9

What if you automatically convert prices to units of purchasing power? So if a loaf of bread goes up 1000%, but your income automatically goes up too, the bread still costs the same in terms of your real purchasing power?

ChatGPT suggests:

What if we stopped treating inflation as a moral failure and just indexed everything automatically? If prices go up, your income goes up too, so your real purchasing power stays the same. A loaf of bread could cost a quadrillion dollars, but that would just be a change in units, not a real shortage of bread. The real question isn't how many zeros are on the money, but whether people can still trade their time and effort for what they need. Indexing income to prices turns "printing money" from a disaster story into a bookkeeping adjustment.

Comment Re: Imaginary assets like hallucinations? (Score 1) 58

For "occasionally", do you mean "most of the time"? Who's regulating derivative markets, and do they create well-intentioned unintended consequences because regulators don't really understand what's happening?

If Zoltan Poszar is right that "shadow banking begins where M2 ends", by how much does privately-created money dwarf public money?

Comment Re: Imaginary assets like hallucinations? (Score 1) 58

Can I recommend Perry Mehrling's "Economics of Money and Banking" to explain how banks create money out of thin air ("the alchemy of banking") and the Fed easily has the power to backstop all that private money creation in a panic?

https://www.coursera.org/learn...

Comment Re: It won't matter once the power goes out (Score 2) 58

If you look at a Sankey diagram of US energy production and consumption, will you too see that residential electricity usage is less than 15% of total electricity demand? So does data center usage only represent a 5% increase in demand, which given the 10% electricity generation surplus shown on eia.gov's energy facts explained page, is totally doable given current production?

https://flowcharts.llnl.gov/si...

https://www.eia.gov/energyexpl...

So is this panic over electricity supply wildly overblown, a pure hallucination meant to push emotional scarcity buttons in you so utility commissions can administer higher rates and the public will go along meekly?

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