You
get rewarded for unique knowledge, not for effort.
Effort is required to create unique knowledge.
@naval
You
get rewarded for unique knowledge, not for effort.
Effort is required to create unique knowledge.
@naval
"The welfare of humanity is always the alibi of tyrants."- Albert Camus
I just spoke with a friend who has close relatives in Lebanon. The Banks cut the access to their money. You can not use your money, you can't use your credit cards, you are poor. You can only take USD 50 a month at the official rate, you are poor one day to the next!
are you ready for this?
Is this impossible to happen, don't bet on that Lebanon is a country with a big banking tradition. Government officials can kill the people to help the people! Argentina did it but Lebanon was a decent country.
5 strategies to prevent disaster (if you are interested contact me directly)
a)have some money in a country that is not your country
b)have some bitcoins
c)have a corporation with some real business and let the money in the company not on a personal account
d)....................
e).....................
Don't buy gold if there is a crisis and you need food, you will exchange a kg of gold for a bag of rice. Gold is to speculate not for a disaster. In crises food , energy, soap and water become very very expensive, gold and jewelry are worthless.
Rent control
If Landlords are allowed to raise rents to reflect a monetary inflation and true conditions of supply and demand, individual tenants will economize by taking less space. This will allow others to share the accommodations that are in short supply. The same amount of housing shelter more people, until the shortage is relieved.
Rent control, however, encourages wasteful use of space. It discriminates in favor of those who already occupy houses or appartments in a particular city or region at the expense of those who find themselves outside.
Henry Hazlitt
“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”
Henry Hazlitt
1.If Government pay the banks and " Cancel " student loans all the students that decided to pay instead of getting a credit feel stupid
2.People that studied and went to college are the least probable to lose their job in COVID. If you work in a restaurant probably you don't have a student loan.
3.The student that paid his loan yesterday is going to feel stupid.
4.When you sign a contract and you can escape by government intervention you become spoiled.
“...equitable treatment means we all end up at the same place.”
--Kamala Harris