[ExI] perspective on covid
sen.otaku at gmail.com
Thu Mar 12 23:21:00 UTC 2020
On a personal note, RIP, my roommates work is closed until this is all over.
> On Mar 9, 2020, at 3:06 PM, SR Ballard <sen.otaku at gmail.com> wrote:
> The drop in oil prices is going to be horrible for my local economy. :( The lack of undocumented workers was bad enough...
> SR Ballard
>> On Mar 9, 2020, at 1:53 PM, John Clark via extropy-chat <extropy-chat at lists.extropy.org> wrote:
>>> On Mon, Mar 9, 2020 at 11:37 AM spike jones via extropy-chat <extropy-chat at lists.extropy.org> wrote:
>>> > Low interest rates seduce the US government into borrowing more and more money. In addition, plenty of homeowners have borrowed money against their homes at low interest rates, hoping to invest in the stock market with their equity. This sets up a ticking time-bomb.
>> Low interest rates like we have now means there is a HUGE pile of money wanting to be loaned out and a much smaller pile of investors wanting to borrow money. And a small inflation rate like we have now means there are more machines that are making things that people want to buy than there are machines that are making dollar bills. Incidentally just today the price of West Texas Intermediate Crude Oil dropped by 22%, the largest one day drop in history. So it looks like inflation isn't going to be a big problem anytime soon but don't celebrate too much, inflation wasn't a big problem in 1929 either. Speaking of 1929, the market hasn't closed yet but as of right now the Dow Jones Industrial Average is down over 2100 points.
>> John K Clark
>> extropy-chat mailing list
>> extropy-chat at lists.extropy.org
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