Are there any Economists or Econ students on /pol/ ?
Do you have interesting red-pills to share that /pol/ might not be aware of?
>>76083438
I took two economic classes and dropped them because economics is basically how much can you make people pay for the least product. It's exploitive and so I couldn't morally continue the classes.
>>76083789
t. Concerned American
>Free trade between two countries is always good.
>Trump is an idiot for wanting to bring corporations back.
>>76083438
accountant/auditor here, economy students are keynesian shills.
>>76083438
PhD econ student here. Biggest red pill I've seen is the Rothchildren's own over 500 trillion dollars of the global economy
>the idea of 'basic income', so popular right now among lazy leftist cuccks, would never work. Terrible idea that only makes sense if you dont know shit about economics
>>76083789
Just finished my econ undergrad, was the biggest redpill thus far, and contributed to me becoming more conservative.
Confirms many ideas that are discussed on /pol/
Brb wage gap is 100% a myth
Brb democratic economic policies are horrible, and are make blacks worse off
Brb policies like minimum wage are openly perpetuated when most economics think raising minimum wage is a horrible idea, the list goes on and on...
Its hard to be bias with regression analysis.
Brb it can get even more redpill with iqs between races etc but I won't go there
Economics is called the dismal science for a reason.
I suggest Milton Friedman and Thomas Sowell if you want to learn more.
>>76084157
>accountant
>commenting on economics
accountants make terrible forecasters
>>76084589
Democratic as in policies from the democrat party, free market should rule
Also the rest of the world should get on their knees for the USA because we effectively are subsidizing the whole world with healthcare and pharmaceutical research
>>76084157
Actuary here. Auditors are pencil pushing know nothings.
>>76084589
Undergrad thinks he knows regression.
Kek, stay in your lane consumer
You don't know shit about models or modeling.
>>76083438
Reserve ratio of the ECB (the actual amount of money the ECB holds in its vault), the rest is used for loans (money creation) is 1%.
If you deposit €100. Your bank account will say that you have €100 when in reality there's only €1 left and the other €99 are in the hands of other people.
While we all know this fractional reserve banking. It is shocking that the ECB's ratio is only 1%.
>>76083789
>It's exploitive
Marx pls.
>Milton Friedman and Thomas Sowell
>suggesting Chicago School drones
>>76083438
The Federal Reserve is a private central bank owned by the Rothschild Family, in conjunction with various other Jewish banking families.
>>76084589
Second part for
>>76084813
>>76084741
I'm thinking of becoming an actuary
What did you study in college?
Also the market here in bongland for actuaries is in high demand atm
>>76083438
4.0 Econ major from a top 10 public university, going to law school after next year.
My only red pill is that the market will always correct itself and whoever is responsible will be shown to be responsible so stop worrying lads. Just invest wisely and there's nothing to fret.
>>76084589
>I suggest Milton Friedman and Thomas Sowell if you want to learn more.
huh?
>undergrad
ah, that explains it
>>76084124
> FREE trade
> but there's no real free trade because a slaveless society such as the USA can never compete against societies like China, mexico,.. due the fact they have de facto "slaves". Thus Trump's ideas can be better for the US economy but bad for the chinese economy or mexican
>>76084777
What is the reserve ratio for commercial banks like DB?
>>76084899
If the market is allowed to function properly, also who was externalities?
>>76083789
It's called competition and it is what built the modern world.
Though in recent years Socialism has become strong enough to choke off any economic development.
>>76084589
>you
>red-pilled
Newfags..........
>>76085072
They'll correct themselves. Always, given a timeline.
>>76083789
>competition and freedom are bad because that means not everybody can win
>all these Austrian & Chicago shills
Engineer working in private equity : Israel has top tier agro technology. They will invest or buy anything a start-up creates that is remotely agro/biotech related.
Not a good or bad thing, I don't mind jews but I always have a smirk when thinking of what would pol say when I'm in a room full of israelis investors
>>76085237
*you're
Curious, what career paths are every Econ, finance, accounting majors going down? I'm hittin up that sweet dank corporate law.
>>76085005
Before and during the '08 crisis it was 2%, after that the government forced them to increase it to 4.5%
>>76085237
and what are you? One of those famous Obamanomics Experts?
>>76085276
>agro tech
agronomy technology?
are they trying to recreate the Prague golem
>>76084589
The redpill is a long process that ends with meme magic, conciousness singularity and enlightenment. The Path Of Light = /pol/
ALL science and even atheism are just modern belief systems used to manipulate the world by keeping them plugged into the (((matrix)))
Even retarded government shills are catching on to how the mind works
>>76085237
>implying anyone who's even a little homophobic would be his friend
>>76085000
>post YFW mexican goods imported in US are made with parts made in the USA
It goes both ways.
>>76083438
Does having read Human Action count?
>>76085476
A Keyenesian
Like the rest of the same world
Apart from my country, as George Osborne is one of you Austrian fags
>>76085566
post yfw Murica can just sell arms and oil and be fine :^)
>>76085652
Oh is that so. Then please explain to me how you solve a problem of overwhelming debt by issuing more debt.
That's what every Keyenesian seems to be doing and I never quite understood the logic behind it.
>>76084212
Oh shut up. This is the biggest crock of shit I continually see on pol.
>>76085490
Making crops grow faster, with less water etc.. Usefull when you have limited land.
>>76085525
Stop trying to co-opt /pol/ into your new age bullshit
Austrians are dumb as fuck.
That is the real redpill. Chicago School for life. Friedman was right about (almost) everything.
>>76085806
no you see an economy is not the same as a household, in the long run we're all dead, free money for everyone will solve all our problems, and inflation has nothing to do with money supply
learn to economics you moran
>>76084124
Free trade doesn't exist.
What you refer to as free trade is the movement of one of the factors of production out of the economy. Unless all factors of production are mobile, this is a market distortion.
When companies move their factory to Mexico, they cut costs, but they do not pass the savings on to the consumer by lowering the price, they simply charge the same price and increase profits.
This is why the stock market is so over valued right now. Trump will push the reset button on the stock market, but in the long run we will be a stronger country
What are modern economic theories on national debt? I keep reading on reddit that it's totally okay to keep borrowing and never paying it back, because modern economic theories say that it's okay. Is that true?
>>76084589
>Wage gap, democracies, minimum wage, et al. are disastrously misunderstood
You needed a degree to realise these things?
>undergraduate
What is this, a Bachelor's Degree? I've never set foot in a university.
Anyway, how was the course? I'd like to graduate from studying economics independently and attend university. I've read Greg Mankiw's macroeconomics and principles of economics textbooks, a mathematics textbook pertaining to maths used in economics, and various other textbooks: Smith, Ricardo, Menger, Keynes, Mises, et al.
Is there anything I should familiarise myself with or read before beginning an economics course? I won't be able to begin until 2017, so it isn't as though I'm short on time.
>>76083438
im 396 pages into Thomas Sowell's Basic Economics 5th ed, so im basically an econ genius. AMA
>>76085566
if mexico would uphold the same or just a normal standard for its workforce the cost for bringing US parts to mexico and paying a fair wage + bringing the goods back to the US would negate the advantage mexico has.
Mexican labour is so cheap that shipping parts from detroit to mexico, 'paying' the workers and bring the goods back to the US. is more profitable than making the goods in Detroit itself. (no shipping costs).
Using mexico as a producer for US goods is the most racist and foul thing to do. In this way you keep destroying Mexico with this ultra capitalism and we must stop this.
- see what I did there?
>>76084777
Is 1% the rate they set for European banks? Wow. I think in the US any bank of decent size has a 10% requirement. After the 08 crash, weren't there new requirements for banks to have expanded capital pool minimums to ensure their stability?
>>76086020
Trudeau is that you?
>>76084490
The alternative is an informal economy full of street vendors and people trying to wash your windows when you stop at a red light
>>76083789
t. Karl Marx
>>76084971
talking smack on sowell? why? where are you getting great counter arguments for his stuff?
>>76084971
If someone isn't an actual student of Econ, reading the easily digestible pop-econ books by them is probably the best idea. They will learn about the basic principles of economics as well as some common traps people and politicians fall into regarding economics.
Socialism kills
https://www.youtube.com/watch?v=hQ_Vd6Lm93w
>>76086135
Yes the commercial banks have done this, but it's around 4.5% (used to be 2%).
We saw how fast greece's cash was dried out. After a couple of weeks banks were shut down
>>76086051
Provide evidence of a net-negative on the US economy or else you're just another uninformed wanker who gets their economic knowledge from pop econ sources.
>>76083438
finance here if that counts
Discriminating against blacks, Jews, or anyone else, when employing people for your business, is bad for your business.
hows that for a red pill, you useless NEET stormfaggots?
>>76084760
>stay in your lane consumer
my sides
So, what does anybody here think about Universal Income?
Or I think its called Basic Income
https://www.google.com/search?q=basic+income&oq=basic+in&aqs=chrome.0.35i39j0j69i57j0.2107j0j4&client=ms-android-verizon&sourceid=chrome-mobile&ie=UTF-8
Everybody has been talking about it lately
>>76086324
It's possible that the gains made by the investor class have outweighed the losses from the lower classes, but all you have to do is look at the measure of medians.
Eg median household income has stagnated in the US since China joined the WTO
You want to wank me off now? Or do I wank off to my own post? Please advise.
>>76086459
Untrue.
The most important thing in a workplace is keeping up morale.
Humans have been raised in a "us vs them" environment for millions of years, and the human mind - whether you like it or not - falls back to tribalism every chance it gets.
So when a white man that has to work with jamal will inevitably come under more stress than a white man that doesn't, which is bad for his morale, leading to less productivity in the long run.
>>76085652
u no neo-classic?
Honestly, never met a keynesian..
>>76086653
Guaranteed conditionless income will turn the migration magnet up to 11 and ruin every nation that implements it.
>Studying pseudoscience
>Redpilled
Choose one
>>76086653
Experiments in micro-economies have shown really good results. It's impossible to know the implications when you enforce this on a macro-level.
I would actually just try it out in an economy like switzerland or denmark (Have their own currency, rich and homogenous). If it fails so be it and go back to the old system. If it works, bingo
>>76086020
>inflation has nothing to do with money supply
>>76086323
>We saw how fast greece's cash was dried out. After a couple of weeks banks were shut down
Greece had a bank run though. My guess is that even if Greece had reserve requirements of 20% they would have run out of cash at that time. Once capital controls limiting how much a person can withdraw a day are implemented it is only a matter of time until the banks run out of cash. No one wants to be the person who didn't get their money out.
>>76086858
Citizens only. Problem solved.
>>76086965
just imagine if the EU would have a crash and the whole EU would experience a bankrun. I was trying to imply such an analogy
>>76086858
>>76086952
Richard Nixon almost considered it.
I'm going to look up a lot of YouTube videos about it tomorrow on a lazy Sunday. Should be good.
Libertarians embrace it too, so I'm interested. Joe rogan has a clip talking about it
>>76087015
When you discriminate between who gets it and who doesn't then it's no longer Universal Income but basic welfare, which you already have.
>>76084874
I double majored in actuarial science and applied statistics. I also minored in management because I wanted to be a consultant.
Actuaries are always in high demand. I get paid way too much for how little I do in a day to day basis. Exams suck dick though.
>>76083438
The most interesting red pill in economy is that you don't have to organise politicians at all. You just have to remind them that you aren't forced to stay in their country and they will deliberately break the free market for smaller companies and workers just for you to stay.
>>76086955
I don't think it has as much do with with Money supply as people once thought. Look at the US for a recent example, the US has had near zero interest rates for years, and even taken extraordinary measure of Quantitative easing to try to get the economy going. Yet despite all that the CPI has shown minimal growth.
I'm not saying money supply can't or doesn't affect inflation, but it isn't as all controlling as some might have thought before.
>>76086779
And yet magically there are more people in the upper middle class today than there were 40 years ago.
Yes that chart is adjusted for inflation, yes that chart says exactly what it looks like, yes you are not as knowledgeable about economics as you realize.
Free trade reduces absolute poverty, and it makes people (on average) richer. The only thing about your post that is close to correct is that ideally free trade would include freedom to trade in ALL markets, not just some of them.
When you talk of distortions, the distortion is not caused by the markets that are free (such as capital markets), but rather those that are not (i.e. labor markets). That's a really important point, so let me repeat it: the market distortions that you attribute to free trade agreements like NAFTA are actually distortions that occur because of a LACK of free trade in areas that NAFTA does not address.
>>76085813
>I can't handle the truth
>>76087105
That sounds like societal collapse. If the US or the EU face something like that, there isn't enough money in the world to prop them up.
Econ student here:
The way banking is set up now with the fed and such, businesses had to go bankrupt. Its also a guaranteed debt trap. Only the very best and strongest will succeed, set up for failiure unless you sell your Soul to big business
>>76086157
To be fair to weed man, since leaving the gold standard, our gold reserves were nothing more than an investment commodity to be sold when the government needed some spending money. Even if there was a miraculous push to return to hard currency, we wouldn't have had enough anyway and the Canadian dollar would be far more worthless than it is today.
>>76086653
Becomes an increasing necessity as more and more of the economy gets automated. Because the alternative is getting into a firefight every time you leave your house to go to work, as the starving unemployed masses will be shooting at you for a scrap of bread.
>>76087219
There has been massive inflation in the things that people that actually got the bailout trillions care about. Like fine art, and stocks and park avenue apartments. All luxury good have exploded in cost.
In the general market not so much because the printed money never really reached them.
>>76083438
Everything is a cycle. And anything that doesnt fit within that cycle is an even bigger cycle.
>>76084589
>Wage gap is 100% myth.
KEK. No its not. Women are not paid less for the same job - i.e. equal pay for equal work. HOWEVER, the """"wage gap""" you see quoted does exist. You can't control for everything you think of them declare there is no wage gap. The gap is meant to explain differences in occupation, education level, experience, statistical discrimination and so on. Not hurr hurr I read on the internet that if you control for everything 77c is totally false its actually more like 98c.
>Brb policies like minimum wage are openly perpetuated when most economics think raising minimum wage is a horrible idea, the list goes on and on...
What school did you go to? Most economists are in favour of reasonable minimum wage increases. Empirical evidence seems to suggest that labor demand elasticities are close to zero - i.e. you wont see mass unemployment and job losses if minimum wages are increased.
>I suggest Milton Friedman and Thomas Sowell if you want to learn more.
I'm going to assume this is trolling. Sowell and Friendman have good ideas and some good philosophy but both are meme economists. Friedman's book "Capitalism and Freedom" is not an economics book in the same sense as someone like Piketty, Krugman, Stiglitz etc. Its more of a political treatise.
there's different schools of economics which disagree because economics isn't a science, it's ideology
5 year long depression starting 2017
The current economics being taught in the majority of universities in North America is Keynesian trash that is preparing the future financial minds and thinkers to move in the direction of a One World Bank, One World Government, and total earth wide Globalization for sake of capitalism.
I was learning it about a decade ago, and they were just working to introduce the carbon tax emission credit scheme to the public - This is a genius creation, they are literally making billions off of your "pollution", its quite genius actually.
I watched the "depression" and bank-bailouts as a finance student in real time and came to the realization it truly is a massive debt ponzi scheme to convert everyone into a chattal asset in-which credit and debt can be created from ad infinitum This is part of why they are pushing the "diversity" and race-mixing agenda, as it homogenizes the earths human species into a more average and bland creation, which would be much easier to control by those with the higher intelligence.
You will see a North American Union in the next century. The disollution of nations borders will happen more so than it already is. The World Banks and International Monetary Fund will issue a new world wide accepted currency, that will operate off the internet.
We will see a market correction in the next 24 months, more likely less than 12.
>>76087623
>Most economists are in favour of reasonable minimum wage increases.
Only complete idiots are in favor of government controlled wages. Like all price controls they simply distort the market and price out the weakest participants.
>>76087623
t. Neo-Keynesian
>>76083789
AHAHAHA faggot
>>76087219
the us dollar is traded on a global basis, makes monetary policy less effective
>>76087623
>labor demand elasticities are close to zero
Cool, so raise the minimum to $100 and that way everyone can be rich.
>>76087623
he doesn't into regression analysis
>>76083789
>it's exploitive
You don't understand economics, m8. No wonder you dropped the classes.
>>76084589
fellow econ student here. can confirm.
absolutely loved it when a professor destroyed the gender wage gap by means of regression analysis within half an hour.
>>76088285
t. exoltitve parasite
Racial comrades of the world UNITE! and toss away these band of thieves and exploiters!
>>76084874
You're right. A Chinese friend of mine once told me "Actuary, there is good money to be made in my job"
>>76086020
Fuck off, Justin. Get back to Parliament already--there's a fucking vote going on.
>>76087967
>the us dollar is traded on a global basis, makes monetary policy less effective
effective at what? Causing inflation by increasing monetary supply? Or giving a keynesian spike to the economy by messing with money supply? or both?
>>76088482
It's too bad he was Wong.
>>76088727
Let me put a Keynesian in an island where there are a certain amount of food and service workers, let me see how much money can he print in order to create another apple.
>>76087623
Friedman books are for consumers you retard. His journal articles are technical with more advanced math than you will ever be able to handle.
https://www.youtube.com/watch?v=x-Ll5-xj8lg
>>76089409
this is the truth of economics.
>>76088905
Oh hey, I"m not a Keynesian. But I do like fiat money. I don't like the dual mandate of the fed to promote full employment and minimize inflation. I would instead just focus on minimizing inflation.
However I do think that altering money supply can affect the economy in the short term. The problem with Keynesians is they never acknowledge the future cost of the their present day short term stimulus.
If you engage in debt financed government spending or increase the money supply you will likely see an increase in short term demand, but what you don't calculate because sometimes it is hard to calculate is the future decrease in spending due to inflation in the currency, or increased taxes to pay government debt, or less government spending in teh future to pay for the debt.
>>76083438
BSc Econ and Business student here.
I look forward to get into some good Finance MSc.
Ask me anything.
>>76089509
fiat money is only good in a a society where you know its goal and duties, the duties of the people in power is their own benefit.
>>76089409
>>76089498
>Hitler makes a joke about the collapsing gold-exchange standard
>"this is the truth of economics"
>>76086103
how long did it take you to read it, im debating on starting it soon
>>76083438
The most important things I learned that might be relevant to you:
- Almost all economics mentioned in the media is either bullshit by people who don't know what they are talking about or outdated debates only old economists care about nowadays and that are mostly settled (e.g. Friedman vs Keynes or Hayek vs Keynes). This includes all the popular economic theories on the Internet, namely the Austrians, Post-Keynesians and MMTers.
- Economics is not all about macroeconomics. Economics is not about finance.
- Private banks do "control" the majority of the money supply. However, that is not as big of a deal as people make it out to be. Money supply play is actually controlled also by the demand side and having a responsive supply side is crucial to not have stupid inefficiencies. A fiat monetary system allows for this. Problems in banking usually rely on information asymmetries and conflicts of interest within the financial institutions themselves.
- Randomized controlled experiments are the best way to infer something about reality. Nonetheless, there are alternative, but worse, methods that can still get the job done. This is hugely important for economics, as randomized controlled experiments in this area most of the time cannot be done.
>>76085806
They do not see it as the problem from what I gather. Increased interest payments for the debt should be counteracted by increased growth of the economy. Economic growth itself is spurred by expansionary fiscal policy.
So in principle, increased government spending increases output (due to multiplier effect), and therefore tax revenue, more than a increased debt increases interest payments. So, a country which borrows more, can enjoy increased economic activity and have enough surplus to pay their debt.
In practice it doesn't seem to be a case, since some countries, like Ireland, which have over 100% of their annual GDP as debt, already pay over 20% of their tax revenue in interest payments. Which seems to be problem if you ask me.
And effects of deficit spending are questionable at best. Since it's always "it would have been a lot worse if it weren't for us" with Keynesians.
>>76084124
It's detrimental to first-world countries when it comes to keeping jobs in those countries, otherwise yes. Some job-protection measures are always necessary.
>>76084687
Spot on when it comes to pharmaceuticals, the uneducated have no clue how much investment and work goes into constantly inventing new antibiotics capable of killing mutated pathogens
>>76089799
It is detrimental to uneducated low-skill laborers in those countries. But in net terms, it is extremely beneficial to everyone else, and there are a lot more skilled laborers than unskilled ones.
Even the low skilled laborers benefit from the cheap goods obtained from outsourced labor in the long run.
>muh factories
>>76089995
Your currency solely has value due to the workers, I want to create a new currency for the workers, their supervisors and our comrades we leave the bourgeoisie parasites to their own rotten dollar.
>>76089692
>macroeconomics
>randomized experiments
>most of the time cannot be done
>most of the time
>lel
It can't be done
portugal is nigger tier
>>76089797
The problem is that the marginal productivity of debt has hit zero quite some time ago.
Meaning we so super saturated up the eyeballs with debt that you could take on an infinite amount of new debt and it still wouldn't increase GDP.
Because there is nothing productive left to invest it in.
>me pushing papers is superior
>my dollar has the ability for me to purchase a house, food, infrastructure, oil, and all other goods of life due to the intellectuals and my intelligence https://www.youtube.com/watch?v=jS4pmfLWiz8
NO! only WORKERS produce that!
>>76084212
The world economy isn't even worth half of that
>>76083438
Also important:
- The overwhelming majority of economists do say free trade is good. However, they are usually talking about the whole world economy (or the joint economy of the two nations doing the trading) and this only holds true in the long-run. They readily admit that in the short-run free trade might be very harmful for particular industries, particularly to the people they employ. These people are at risk of getting stuck in unemployment, either never finding a new job (men and women over 45, for instance) or accepting a new one in a completely different trade at a much lower wage.
- Most of the studies on the benefits of immigration also assume you are talking about the economies of both countries. The empirical studies are also mostly focused on European emigration to the US, due to availability of data. This actually might make a huge difference, as Europeans and Americans are mostly similar. Look up on Borjas, if you are interested in knowing more about this.
Is there anyone here who's studying for the actuarial exams.
I need help understanding some topics in Models for Financial Economics exam.
>>76090551
Topics like? I got A in my Fin Mathematics exam. I might be helpful.
>>76090425
My good and their goods are at odds, my good is jobs and factories being in the country.
>>76090149
I specifically said not all economics is about macroeconomics. Next time, read what people write before bashing them.
And it can actually be done on smaller scales if you think about it (think of US states or NUTS in Europe). Can it usually be done? Nope.
>>76083438
Econ student here.
Trump protectionist policies are incredibly dumb and would have destructive effects on the economy.
Who else /law school/ here?
>>76090894
Actually, in introductory international trade classes, you learn that if you are a big economy (like the US) being protectionist might benefit you a lot even in the LR, because you are able to change the relative prices of goods.
>>76090894
Chile is such a strong economy, America developed solely from protectionist and mercantilist policies.
>>76090665
I need help understanding how the risk-free rate for a bond is equal to the negative of the bond's sharpe ratio multiplied by the short rate's volatility.
We have:
dr(t) = a(r)dt + sigma(r)dZ(t) as the stochastic differential model for the interest rate, so the bond price based on the short rate follows a geometric brownian motion.
I used Ito's lemma on the bond model to get both the drift and volatility of the bond stochastic differential equation.
Then I plugged both the drift and volatility into the sharpe ratio to get a bond form of the black-scholes equation, but I'm not seeing why the negative of the sharpe price times the volatility is the risk premium for a bond.
>>76083438
Economic positivism and econometrics are total bullshit
Trying to exert the scientific method in economic study is inherently erroneous, human action cannot be observed in a lab setting.
Moreover the conclusions reached through these disciplines are subject to manipulation to justify any/all government intervention.
5% growth in the economy is possible forever
>>76091057
Even large local markets saturate relatively fast. Protectionism is pure evil. Some even blame the Protectionist wave post WW1 for the 1929 crisis.
>>76087860
>We will see a market correction in the next 24 months, more likely less than 12.
Agreed, and the correction should be down around 9K.
My retirement funds hate me right now...
Worst thread I have ever read on /pol/. Fucking embarrassing how little you know
I'm an economist and the biggest red pill is that national debt is not a problem when you have sovereign control of your currency as a nation
Also the gold standard is absolute shit
>>76091153
Sorry I think I won't be helpful. My course will cover topics like black-scholes and MPT next year. Maybe >>76087159 can help.
>>76091911
>national debt is not a problem when you have sovereign control of your currency as a nation
True.
>gold standard is absolute shit
Also true, but shiny stuff is fun to have
>>76091911
This leads the way for massive theft and disengagement of rulers to populace.
>>76091911
This is an idiotic viewpoint.
If a nation can print its own currency, then there is no reason for it to sell bonds and get into debt.
They can just print whatever they need.
By borrowing money (Selling bonds), the government is both inflating away the value of their currency as well as putting its citizens in debt, while if the government just printed its own money without any debt, the only negative effect would be the inflation.
>>76091730
Please enlighten us mighty Swede. King of the negative interest rates.
>>76091730
Enlighten us, oh Muhmed.
>>76091153
Isn't that exactly what the sharpe is? The ratio between the risk free rate and the volatility? So when you take one out you are left with the other. Seems simple.
>>76083438
Yes.
The opinions that come from /pol/ on economics are just as retarded as those that come from Bernie supporters.
>>76085237
>categorizing econ as anything other than positivist
>>76092425
The volatility that is multiplied by the sharpe is the *short rate's volatility*, not the bond option's volatility.
That's what's been confusing me.
Doing PhD in physics currently.
During my masters, I decided to take a lecture from another subject, called corporate governance. I basically learned simple models on how to best exploit workers literally under the assumption they would work for the amount of money they need for rent, food and gas for their way to work, and not a cent more. Was keking my ass off, only going to the first 3 lectures and reading the script once a day before the exam. Easiest credit points ever for roughly 20 hours of work. Being "math heavy" (more like 10th grade calculus) made if especially simple.
2 years ago decided to learn more in debt on my free time, downloaded some "standard college level economics book" with around 1000 pages. Read the first 300 and closed it, wondered how you could put so little information on so many pages. Seemed to me rather a circlejerk regarding technical terms without conveying useful information.
Anyone knows a good book for that?
>Mfw there are people on /pol/ who are in favour of protectionism.
>>76092632
Probably a necessary artifact from the overly complicated model you are using. Just go with it.
>>76092646
Macroeconomics by Blanchard is a good introductory read to Economics. 700 pages
>>76092829
I can't...
I tried doing that and failed the first time.
The exams expect you to understand everything.
I wish it was just a simple memorization and regurgitation exam like the CFA. It would make my life so much easier.
>>76083438
Econ major here
Also the ultimate Redpill of economics is the complete free market.
Fugg tariffs, fugg Govt subsidies, fugg the FED
>>76092646
Welche Universität?
>>76092903
Well then cheat or bribe someone.
>>76093174
Won´t say the name but as a german you can figure it out: It´s in the far north of Bawü having one river going through it. One of the few "elite" unis.
>>76092876
Thanks will have a look.
>>76092876
>>76092646
Unfortunately, undergraduate books and courses provide a very poor picture of what is being done in the area. It's ridiculous how different my education in economics was when I went past undergraduate. And I was still in the same university. When you start reading papers instead of textbooks, you never take undergraduate textbooks seriously again.
>>76092646
advanced macroecsonomics by romer is quite good
>>76092216
>if the government just printed its own money without any debt, the only negative effect would be the inflation.
Yeah, but inflation is extremely bad public policy. Inflation punishes only one group of people: the people who had the foresight and discipline to save money for the future.
Saving money is the behavior that you most want to encourage, because the more savings people have, the more robust they can be in bad economic times.
The only fair inflation rate is exactly 0% inflation. Anything higher than that is effectively a tax that's levied only on people who save money.
And it's especially important that everyone saves money, not just the rich. Inflation hurts the poor exactly as much (as a percentage) as it hurts rich people. However, rich people can play the stock market to help overcome inflation. But poor people often can't afford the risk of the stock market, so they are less able to overcome the effects of inflation if they try to save money.
>>76083438
When a bank gives you a loan, it doesn't use real money. It creates a "bank deposit" out of thin air for you then destroys it when you pay the loan off.
>>76083438
From a previous Brexit Thread I posted in: My thoughts on the EU economy.
Alright. So, here’s my take, specifically, on why Brexit should occur, and why the European Union is a complete and utter disaster for all involved, from a financial standpoint, never mind everything else wrong with it.
As a career CCNA, I’d like to ask you for a moment, to think of the world economy like a computer network, if you’ll entertain me.
>End computers will represent our EU nations
>Switches will represent a given currency
>A single router will represent the global market
>A single server will represent the EU, and a firewall will represent its overarching regulations that affect all its client states.
>An ISP will represent the world’s overall GDP.
All of this is outlined in Figure 1.
In the EU, you have 28 computers (nations).
Each one is connected to a single switch, the Euro.
Beyond that, the Euro is connected to our server representing the EU and its Parliament.
Past that is a firewall that controls the actions of everything behind it, again, only one single connection. That firewall has one single connection to the ‘World’ router, which has one connection to the Internet, our global GDP in this case. It should look like Figure 2.
Also keep in mind that Figure 2 is one single network, and everyone has to compete for bandwidth on this switch. When you do things like add nations with predisposed financial problems (Greece), that’s like adding a 56k user into your Google Fiber network – it just bogs shit down, and may not even be compatible.
Now you’ll notice in Figure 1 that there are nine other connections going into the Euro that are not directly connected to the EU server or firewall. These connections lead to:
>The UK
>Croatia
>Poland
>Romania
>The Czech Republic
>Bulgaria
>Hungary
>Denmark
>Sweden
Cont.
>>76093557
He's a PhD in Physics. He comes from another background and introductory books are good if he just wants to start to learn more.
>>76093846
The reason this is so is outlined in Figure 3 Each of these nations still use their native currency, and as such, have their own dedicated networks, that can all freely trade with one another, despite being intrinsically linked to the Euro. Each of these currencies have their own personal connection leading out to the ‘World’ router as seen in Figure 1, and as such, have a thing that the industry likes to call ‘redundancy’. What’s that?
Well, it basically means that, should one aspect of a network go down, it’s not all doom and gloom, because there’s a backup route to pick up the slack.
Notice that in figure 2 again, that every nation connected solely to the EU is ENTIRELY reliant on that one switch. If at any point the switch (Euro tanks), or server (EU collapses) goes down, all 19 of these nations not backed up with a redundant connection can no longer access the rest of the world. Meanwhile, while it WILL suck for the other nine if the EU goes tits up, they can eventually pick up the slack and become independent because of their own personal LANs.
Cont.
>>76094026
Will it be hard? Fuck yeah. Will going solo be harmful in the short term? Yes. This struggle can be represented by the time it takes for the nine to reconnect to the world after their main connection goes down, and the slightly longer time it takes to travel to the end destination because of it. And sure, overhead on this network will be a slightly bigger pain in the ass because of all the different subnets (economies) you have to manage, but at the end of the day, you have more fault tolerance with more individual economies. The US itself has been on a financial roller coaster since day one. Economies the world over have boomed and busted, and this is a fact of life that will always occur. If you have only one single point of failure though, like the EU does, then EVERYONE that’s involved suffers. Tragic though it may be, it is better to see a few million (one nation) suffer than a billion (the Union).
I know I went on one fuck of a tangent here, and I don’t know if I made things clearer or more confusing for people, but if this can sway just one wayward britbong to vote to leave, then I am happy.
Godspeed. BurgerBong bromance forever.
>>76083438
>Do you have interesting red-pills to share that /pol/ might not be aware of?
Austrian economics seems to be completely unknown to 99% of /pol/ on a level other than name recognition.
Murray Rothbard was probably the greatest economist of all time, a god-tier historian, and generally wrote some of the most red-pilled and "alt-right" essays decades before that was even a thing. But naturally /pol/ hates him because he was ethnically Jewish.
http://chelm.freeyellow.com/rothbard.html
>>76093846
>>76094026
>>76094079
I just dont understand why you used servers instead of pipes. I think pipes make a lot more sense.
>>76094376
Rothbard was great,but he went a little nuts justifyingbthe NAP,with all the baby markets and letting babies die from hunger due muh property.
>>76093715
>Inflation punishes only one group of people: the people who had the foresight and discipline to save money for the future.
And the people who actually buy stuff, who actually have to pay more for the same product. God where do you get off spouting complete bullshit to these people.
>>76094379
Again, this is from the perspective of a NOC technician. I'm no economist. But you see the point, right? more varied currencies are better because if one nation fails instead of a conglomerate that regulates what everyone in it is allowed to do, you have less of a problem in the long run.
Ever heard of the 'too big to fail' fallacy?
>>76094494
You have to admit. Letting babies from families too poor to feed them die would solve poverty real quick
>>76083789
Econ student here. You're full of shit. Economics is about making the best of ((((((limited)))))) resources
>>76083438
The FED is a privately owned institution and is evil as fuck
>>76094522
>Eats pizza from the crust side first
DON YOU FUCKING NORMIE, YOU SAVE THE BEST FOR LAST.
REEEEEEEEEEE
>>76083438
Taxation is theft
>>76093524
Thanks, figured it out. I attend one of the "elite" unis (muh Exzellenzinitiative) in the Reichshauptslum and actually study economics. Sometimes all the bullshitting gets on my nerves and I consider switching to maths or computer science. Will probably pursue a Master's in statistics.
>>76094494
>Rothbard was great,but he went a little nuts justifyingbthe NAP,with all the baby markets and letting babies die from hunger due muh property.
The market thing is actually a positive as it would allow subhuman trailer-trash tier "parents" who had zero interest in raising a child sell the baby to a (say) infertile couple who would give it an infinitely better life. It's a win-win-win for all, and better than the current system by miles.
As for starving to death, this is one of those "issues" that get brought up but are extremely unlikely to ever happen or at most being extraordinarily rare. A stateless society doesn't magically make mob justice disappear either.
>>76084490
Basic income will be a necessity in the future when everything is automatized (lookup a list of predicted job loss due computers doing them instead n shit) it doesn't make sense right now tho because people still have to work for the most part to keep society going
>>76095605
>Basic income will be a necessity in the future when everything is automatized (lookup a list of predicted job loss due computers doing them instead n shit) it doesn't make sense right now tho because people still have to work for the most part to keep society going
Technological unemployment was BTFO'd 200 years ago. Economic laws do not change.
http://bastiat.org/en/twisatwins.html
Claim you're an Indian and go live on one of their reservations and see how much you enjoy living in a society with a "basic income".
>>76083789
>how much can you make people pay for the least product
nope, that's public administration
>>7608458I agree with you on every thing but minimum wage. Slave wages like those in the turd world blow and I think the added unemployment that comes with minimum wage is worth not having de facto slaves. Also in the long run raising minimum wage effectively does nothing but in the short term, it gives the workers I bit of a hypothesize prices won't change as fast as their wage does. But as the world becomes most cohesive with the internet,this will change
I finished my bachelors in Econ back in January, anyone know any good higher level econ books?
I don't want to get rusty, and I figure I should keep learning regardless.
