Everything I know about Economics

I am an economist by training 

I forgot everything that I learned to pass the exams. 

Perhaps one idea remains and has been useful , very useful. Too much of something doesn't work anymore, if you drink a glass of Coke is nice, the second ok the third is difficult etc....

In the ecomomy it's exacly the same thing, if you have too much debt it stops working and we are there. after we reach 100 or 200% deby to GDP more debt destroys growth etc...

this idea declining marginal returns is true in pretty much everything

"The curious mind embraces science; the gifted and sensitive, the arts; the practical, business; the leftover becomes an economist"
— Nassim Nicholas Taleb (The Bed of Procrustes: Philosophical and Practical Aphorisms)

Simple

 

Markets are strongest when they are Broad

 Great rules but nº7 is key, not possible to move forward when only one group is advancing, if everybody is advancing some more than others everything is good.

Reality will impose itself as always

It takes the energy equivalent of 100 barrels of oil to fabricate a quantity of batteries that can store the energy equivalent of a single barrel of oil.

Transition to the Poor House

The solution for all the problems is technology

Physics is the solution 

The way we live , the quality of life we experience is due to Hydrocarbons . If we want to transition to an inferior solution our life will suffer. 

Batteries are not the solution because they are very expensive to build and don't last long. Some people say they are not very good for the envoirment after their useful life. You need 100 barrels of oil to build a battery to store 1 barrel of oil! of course we could buy a tin barrel that cost USD 1 and last forever to store 1 barrel of oil .

Energy consumption grows every year. That is not going to stop.

The great beneficiaries of the Green Agenda are the Saudis & Putin. 

La finestra 1916 "Henri Matisse"

 

Bill Gates no cell phone until you are 14 ...............

In a recent interview with the Mirror, Bill Gates, the tech mogul said his children were not allowed to own their own cellphone until the age of 14. “We often set a time after which there is no screen time, and in their case that helps them get to sleep at a reasonable hour," he said.

If you want to be like everybody else you pretend you are doing something and spent time in Instagram, Facebook or social media or watching Netflix. The people who solve the problems of the world do old fashion things like

reading

studying

learning a new language

play an instrument

sports

sleeping

playing

They do difficult things, easy things don't make you a better person. Nothing easy helps you.

challenging education easy life, easy education difficult life

 

The roots of education are bitter, but the fruit is sweet.

Aristotle