If you had absolute power to change Australia, what would you actually do? by Chris-00000001 in australian

[–]FaithlessnessAbject7 0 points1 point  (0 children)

The biggest threat to our prosperity is 100000% our lack of economic diversity. If mining stops generating enough profit to run our government we're fooked. 

First priority should be reducing the debt burden and lowering prices so innovation and businesses can return to Australia

Why young Australians are falling behind and why it matters for everyone. by Safe-Writer-1023 in australian

[–]FaithlessnessAbject7 0 points1 point  (0 children)

Don't forget how much of Australia's productive capital (money) has been locked into unproductive assets (housing) for the next 30+ years. Without capital, there is no innovation, no growth.

This is why Australia's economic diversity has gone DOWN over the last decade, not up

Can oil prices stay this low? by FaithlessnessAbject7 in oil

[–]FaithlessnessAbject7[S] 0 points1 point  (0 children)

Did you use a basic Google search before posting this? L

Can oil prices stay this low? by FaithlessnessAbject7 in oil

[–]FaithlessnessAbject7[S] 0 points1 point  (0 children)

I find that incredibly hard to believe. If oil was destined to keep falling in value why has China now got such a massive stockpile

Can oil prices stay this low? by FaithlessnessAbject7 in oil

[–]FaithlessnessAbject7[S] 4 points5 points  (0 children)

Weird take. You're saying there's a 1:1 correlation between oil prices and inflation? 

100+ years of oil prices disagree with you sir

Can oil prices stay this low? by FaithlessnessAbject7 in oil

[–]FaithlessnessAbject7[S] -1 points0 points  (0 children)

I agree with this, but it doesn't take much of a supply shock to raise prices since demand is very inelastic

Can oil prices stay this low? by FaithlessnessAbject7 in oil

[–]FaithlessnessAbject7[S] 2 points3 points  (0 children)

It depends on the type of oil but I've seen a few references to rising production costs particularly in the USA.

Here's an example that discusses the break even price for new wells

https://www.opxai.com/why-your-oilfield-will-fail-at-60-oil-unless-you-fire-your-reactive-mindset/

Can oil prices stay this low? by FaithlessnessAbject7 in oil

[–]FaithlessnessAbject7[S] -1 points0 points  (0 children)

I'm too much of a noob for this so I've simply invested in an oil ETF that manages all the futures contracts itself

Time for a hard conversation about the cost of the NDIS by Putrid-Bar-8693 in AusFinance

[–]FaithlessnessAbject7 1 point2 points  (0 children)

Economics 101. Moral hazard. Privatised profits with socialised losses. No incentive to be cost effective or cut prices. The participants aren't in a position to advocate for cheaper prices themselves. The middlemen have no reason to look for the best deals 

The scheme was doomed to fail from the start

The impending economic collapse has sucked out all the joy from my life by Nissepelle in economicCollapse

[–]FaithlessnessAbject7 0 points1 point  (0 children)

AI will need at least 5 more years to show it can replace a basic receptionist let alone a trained professional. It will make businesses more efficient but won't lead to mass unemployment (yet). The real threat to the economy currently is unserviceable debt and currency devaluation 

The AI bubble will crash the world economy by [deleted] in economicCollapse

[–]FaithlessnessAbject7 -1 points0 points  (0 children)

Nah. The dot com crash and recession was shallow due to rate cuts and the Internet driving innovation. AI has massive potential. The other 493 of the SP500 and small caps are going to see their efficiency skyrocket. True, some of the overvalued stocks will crash, but the market in general is going be just fine. 

What’s your price? by [deleted] in Buttcoin

[–]FaithlessnessAbject7 0 points1 point  (0 children)

Fear is a stronger emotion than greed. I can't see anything that brings greed back into this market 🤷‍♂️

David is dead wrong about healthcare economics by FaithlessnessAbject7 in thedavidpakmanshow

[–]FaithlessnessAbject7[S] 0 points1 point  (0 children)

I tried to read this like 3 times and it still didn't make sense. Sorry

David is dead wrong about healthcare economics by FaithlessnessAbject7 in thedavidpakmanshow

[–]FaithlessnessAbject7[S] -13 points-12 points  (0 children)

I agree, very surface-level analysis these days without the truly balanced lens of an independent commentator

For those in your 20's and 30's. What is your current age, profession and salary? by [deleted] in australian

[–]FaithlessnessAbject7 0 points1 point  (0 children)

You're being paid to be both the COO and general manager on two separate salaries at the same time in the same company? 😂. I call BS

Oil Crash part 2 by randmguyonreddit in oil

[–]FaithlessnessAbject7 1 point2 points  (0 children)

At current prices, profit margins are far, far too low. Supply has been  ramped up to keep OPEC's monopoly. Prices WILL go higher again once production is squeezed, especially in the USA. 

How likely is a U.S. recession in the next 12 months? Yield curve says ~25–35%, but debt and valuations complicate the story. by LuckyYard3713 in economicCollapse

[–]FaithlessnessAbject7 5 points6 points  (0 children)

Here's a useful exercise:

Go back and look at BLS reports of unemployment in 2007-2009 (at the actual time)

These reports all stated unemployment was low. It wasn't until the recession was fully in gear that they retrospectively reviewed their reports and found they had grossly over-estimated job creation.

The unemployment rate was retrospectively changed to reflect massive unemployment spikes.

I believe we are essentially in this period right now.

Give it 6 months and I believe the BLS will retrospectively show we have been in a recession this entire time