economics

but it is just as correct, and probably more so, to say that foreign accumulations of dollars force Americans to consume beyond their means.

underlying imbalances that explained the sources of growth in the global economy,

According to an investigation by The Wall Street Journal, in July, the total amount of off-the-book debts held by local governments across China now stands at between $7 trillion and $11 trillion, with as much as $800 billion at risk of default.

2. Headline CPI ex-Shelter inflation was +2.1% YoY, down from +2.2% prior: Shelter is the largest component of the CPI, comprising 33% of the headline basket and 41% of the core basket, but it’s also the laggiest & least practical component of the CPI due to the way that Owners’ Equivalent Rent is calculated. I’ve gone down that rabbit hole in the

Commodities are goods used as inputs in the production of other goods and services. They form the bedrock upon which more complex products are made. While the US economy has moved to have a much larger share in the form of services, none of these services would be possible without the commodities. The pervasiveness of commodities as inputs makes

One problem with most LDC securities markets is that there is a very poor balance of investors.

This is the so-called deposit multiplier model much-loved by textbooks, but it is incorrect in practice because loans create deposits and not vice versa

Wheat grows in cool, dry conditions. It can withstand frost, but rice can’t. Rice benefits from flooding, which kills competing weeds. Ponds can be formed and often contain fish, which creates protein for the farmers and fertilizer for the plants.

But customer support isn't really "selling work" in the way the argument orginally meant. A resolved support ticket is a binary state change. Did the customer's problem go away? Yes or no. The outcome is measurable not because the "work" is well-defined, but because the absence of a problem is well-defined. Attribution is unambiguous: the AI either