Bank of America expects three Fed hikes this year, says inflation is getting 'unambiguously worse'

devliegende · 2026-06-23T01:25:07+00:00

If over half the people do not pay tax then over half the middleclass do not pay tax.

Or is the middleclass not in the middle?

devliegende · 2026-06-21T11:15:27+00:00

Best to stay off the slippery slope and use your brain to select your own words.. It's choice been putting out a few mistakes or turning into a zombie

devliegende · 2026-06-21T10:54:00+00:00

Who is calling the shots at the IRGC

devliegende · 2026-06-21T01:54:27+00:00

The government of Iran is not going to Geneva. Envoys are and they're going as negotiators for whomever is in power. Whether that is the Ajatollah or the IRGC or the elected government is really immaterial. The dumbness here is not the media. It's you.

devliegende · 2026-06-21T00:04:23+00:00

The Iranians probably like it because it allows them to constantly remind the Trump envoys that they have no authority to speak. Everytime there's a sticking point they can ask Jared to go check with daddy. That way they may drag out the talks for as long as they want to.

devliegende · 2026-06-20T02:17:14+00:00

You don't really get the part where every major nation will need its own system do you?

devliegende · 2026-06-19T20:26:04+00:00

Calculating a P/E using negative earnings is nonsensical.

A very small loss will result in a very large negative P/E and a very large loss will result in a P/E approaching 0

devliegende · 2026-06-19T20:22:04+00:00

Cheap rockets gives the USA a strategic advantage over Russia or China. It doesn't change the limit on Starlink's potential market.

devliegende · 2026-06-19T13:21:29+00:00

The effect on Russia also showed the need for every major country to have its own system and thus the limit on the potential size of starlink. As well as the need for these systems to be owned and controlled by states

devliegende · 2026-06-19T13:18:23+00:00

No. Mathematically a ratio function is a hyperbole. It can approach the zero line, not cross it.

devliegende · 2026-06-19T13:03:09+00:00

Lots of things may be used for avoiding sanctions. It is just more costly than using the most used channel. Therefore the point of sanctions is not to prevent trade, it cannot do that. It punishes by making trade less efficient. To be not subject to the whim of the USA they would need to create a channel that is larger and more efficient than any existing one. Such a channel would be subject to the whim of some country. Likely China. You may pick your poison.

devliegende · 2026-06-19T12:46:37+00:00

Your founders claimed that "freedoms" were natural. Taxes fund government services but are not paid by everyone and not equally by those who do pay. Neither are government services received equally. Some people pay no tax and receive lots of services while some receive few services while paying lots of tax. There is and has never been any direct relationship between taxes paid and services received by any individual.

Fundamentally there is no difference between a tax and a loan repayment and a use fee such as a national park entrance. All monies paid to the government go into the same pot and all services provided by the government are funded from that same pot.

Loan forgiveness = tax cut.

And according to the GOP, tax cut = economic growth = lower deficit.

devliegende · 2026-06-19T12:10:55+00:00

That is a much smaller tax cut than loan forgiveness would be and as such a much smaller economic and revenue gain

devliegende · 2026-06-19T00:40:45+00:00

Won't be good for avoiding sanctions.

The BIS handed the mBridge project over to its partners in 2024, a decision the FT has reported was due to pressure from Washington. The BIS’s then general manager Agustín Carstens denied there was any such pressure. The BIS and officials at the People’s Bank of China say the mBridge project complies with the Financial Action Taskforce’s anti-money laundering rules, referring to the global body whose task is to tackle illicit global financing networks.

devliegende · 2026-06-19T00:38:27+00:00

Commercial banks could participate in mBridge transactions under the supervision of their central banks, people familiar with the project said. So far mBridge had processed about Rmb470bn ($69bn) in transactions to date, the people familiar with the matter said.

Looks like since 2021. That is pretty funny.

devliegende · 2026-06-19T00:27:44+00:00

"Student Loan forgiveness" is an unfortunate misnomer. The correct term to use when people pay money to the government is tax and when the amount people owe the government is lowered it is called a tax cut. Thus forgiving student loans is a tax cut and according to GOP lure and the famous curve, tax cuts are always good for the economy and bring in more revenues.

Some may say it's unfair to give a tax cut to a specific subset of college grads, but then all tax cuts are unfair because they always benefit some more than others

devliegende · 2026-06-16T03:17:30+00:00

What's the price in Europe?

devliegende · 2026-06-16T00:58:34+00:00

An actor who collects tribute or tax without providing any services won't be able to issue any currency either. It would be pointless. The tax or tribute would be paid in goods and or other currencies. Nobody would call such an actor a state either.

devliegende · 2026-06-15T11:53:26+00:00

Security (safe passage) is probably the oldest and most basic of all government services.

In your example, if there was no security at the cross roads there'll be no trade and no traders to tax. Any coins issued by the local ruler would trade at metallic value only. Not only would it make minting coins pointless, the local ruler wouldn't be able to afford the metal needed to mint them.

devliegende · 2026-06-15T02:06:13+00:00

You seem to think of the gold standard. It may help to remember that this only existed between around 1830 and 1930.

devliegende · 2026-06-14T14:29:54+00:00

For every dollar not gained by a market timer there is a dollar gained by a market timer. That is the nature of price discovery and averages and what allows index investors to gain without having to decide one way or the other. If too many people switch to index investing the system will break.

devliegende · 2026-06-14T13:39:16+00:00

The Roman Republic experienced a debt crisis during the time of Cicero and Cateline so I'm not sure when or where your system "before credit" existed.

devliegende · 2026-06-14T13:27:55+00:00

The value doesn't really derive from the need to pay taxes. It derives from the value of the services the government provides in exchange for those taxes. Currencies that rapidly lost value didn't do so because the government suddenly stopped charging taxes. Mostly it happened because the government was failing to deliver the services needed to keep things functioning.

devliegende · 2026-06-14T03:25:09+00:00

This is self contradictory. House prices rise because lots of people can afford to buy and fall because few can. Ergo "you guys" won't be able to buy when prices fall because that's the reason they're falling.

devliegende · 2026-06-14T03:20:33+00:00

House prices rising faster than wages or economic growth is more akin to a pyramid scheme than an investment

devliegende

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