Posted: Sat Feb 10, 2018 7:14 amThe Glorious Third Reign of Templedom wrote:(1) When government debt becomes unsustainable, or yields approach zero, or the threat of US default looms.
(2) yes, the cheap labour import kind that are easier to satisfy and ship back to their countries of origin; it's the indigenous population they are after (ironic twist of fate, might I add)
(3) yes, but damages in dollar terms have been breaking record after annual record, and the super-capitalists dread at the thought of footing the insurance bills
(4) try collating housing prices of major urban centres (esp. Western Europe), and you should see a much different picture
(5) it is ominous when you connect all the social changes sweeping through developed countries since 2001
(6) when the whole world has the same comparable standard of living, then we'll be on the cusp of the Great Socialist Revival (tm)
(7) see above
(8) actually, (6)(7) was a wistful joke. Though I personally think that the reason USSR failed was because, in a hostile world, it lacked economic vitality to compete with the capitalist west. If the whole world were communist --> problem solved!
1. What does debt default have to do with increasing wealth inequality? Wouldn't it technically reduce it since many wealthy people dump billions on T-Bonds?
2. Third world people are working in the US because their homeland is typically the one with many regulations and bureaucracy on business creation/running, high taxes, corruption and heavy restrictions to trade (usually linked to high tariffs). The exceptions are countries like Chile, Botswana, Mauritius, Hong Kong, Singapore, South Korea and Taiwan (last four being former 3rd world countries) that liberalized their economy and saw unprecedented growth in the 20th century.
3. Damages in dollar terms have been growing because you are probably not adjusting it to PPP (inflation) and because economic development is growing exponentially. Of course, there is much more chance for you to destroy something worthy today through a random disaster than back in the 1700s.
4. The same countries that adhere to proposals like rent control? Self-explanatory.
5. Developed countries only? It's almost like the whole world is moving towards a more liberal society but shall we ignore it, rite?
6. So never? Wealth accumulation is progressing on all the levels, yet not equally.
8. mfw USSR, China, Cambodia, Vietnam, Laos, Cuba, Ethiopia, North Korea, Romania and probably other ones I can't remember rn tried socialism and failed to keep up with western standards but if we implement more of socialism we will eventually get there
