What about diversification? The old saying “don’t put all your eggs in one basket” surely would have prevented the loss of this person’s entire life savings. Well, at least he is young and has time to recoup. I’d like to ask him if he would invest in crypto again.
I hear proponents of crypto say things like “I’m betting on the technology,”(with little training or experience in software engineering and cryptography) “it can’t be hacked,” and “it is more secure than government backed dollars.” This sounds similar to the lies sold to people regarding diamonds “diamonds are forever,” “diamonds are scarce,” and “diamonds are an investment.”
Ironically, the same government that backs currency is needed to rule in the favor of those who lost money playing the crypto game – an “I don’t need you until I do” type situation.
Software Engineer Loses Life Savings in Quadriga Imbroglio
The administration’s tariffs on EU steel and aluminum led to reciprocating tariffs by the EU on Harley’s imports. Then Harley decides to expand production in Thailand to get around those tariffs. A move associated with the goal of a firm: maximize shareholder wealth. A move necessitated by ill-conceived policy.
From there, the same President that lifted up Harley in the beginning as a point of national pride, tells that same nation he would support a boycott of Harley. Harley sales decline 10% domestically. Even with the corporate tax break giveaway by the current administration, Harley still reports no profit. And our government budget deficits and national debt continue to rise due to lower tax revenue collections on lower output like Harley.
Did everyone follow that?
I prefer to use whole words rather than twitter-like disemvowelments, but I must use one here: SMH
Read, and ride, on.
Harley-Davidson Profit Is Wiped Out by President Trump’s Tariffs
So these flying cars have roots in inefficient helicopters, when measured by fuel consumed per passenger mile. The article also makes an important point: if you invest in public transportation infrastructure on the ground, the need to “fly above the fray” is mitigated. The article cites Tokyo as an example. I’ve never been. If you have, please comment on the Tokyo public transit infrastructure. I’d like to hear how smooth (or non-smooth) it is.
That Flying-Car Future Looks Like a Dystopia
To the chagrin of many current and future students, it looks like I must work well into my 60s…
Seriously though, this article provides interesting perspective on population trends and economic impacts of immigration policy. You guessed it, a more inclusive policy (that is enforced) is better for the long-term health of the nation.
Too Many Americans Will Never Be Able to Retire
This article points out an interesting contradiction in the quantitative approach “that the approach exploits inefficiencies, but requires market efficiency to realign prices to generate returns.”
Perhaps the old saying “success is a journey, not a destination” applies…
Why the Quants Aren’t Adding Up
Interesting read. I never thought of higher education as a service that we export, every bit as important as soybeans and coal – perhaps more important. That is an interesting perspective consistent with reality. Soybean crop values totaled $38 billion in 2016: USDA website. Coal exports in 2018 were about $9 billion: EIA website. Hopefully, someday, we can get back to policies that promote education here in the U.S., welcome students from abroad, and thereby help our economy in the near and long-term.
Foreign Students Sour on America, Jeopardizing a $39 Billion Industry
Our President has barred the U.S. delegation from the World Economic Forum in Davos, Switzerland – over a government shutdown caused by his demands for a border wall with Mexico. Both acts indicate a lack of interest in global trade (even though the President and his family profit from global trade.) Nevertheless, here are a few quotes from the article:
“the rest of the world appears to have decided globalization isn’t the enemy after all, and that leaves the U.S. playing trade catch-up.”
“closing up is not the answer”
“Shortly, the vast majority of economic growth will be taking place outside the West”
One Trump-supporting cattle rancher stated “If we don’t have a bilateral deal with Japan in three years, we are going to have some problems.”
Wait a second, did that cattle rancher, that allegedly believes in globalization, understand the trans pacific partnership deal already in place from the Obama Administration (and exited by Trump), already provided access to Japan and other markets? Was he vocal about his support of the Obama Administration that forged an agreement (TPP) to help his cattle business? Perhaps not but I leave it to the readers to ponder why someone would not support an administration that has helped them while supporting another that harms them.
Globalization Is Surviving Trump