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[Owner] Re: [PhilosophicalM] Friday Five August 16

 


Friday five: ?"3.? Should the Federal Government get out of the business of subsidizing bad behaviour?"
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Me: "I have no idea what you are referring to, but don't see any reason for the federal government should do that."
Marvin: "I was thinking of stupid stuff like buying bigger houses on largedr lots because mortgage interest in deductible"

Now that you mention it, I just read a column this morning describing how the Bank of Japan is offering negative interest rates to encourage borrowing (and hopefully resulting in business investment to drag them out of 30 years of economic stagnation). ? Arbitragers are borrowing money from Japan at negative interest rates and using those funds to buy US government securities at 5.25% or so and making a killing.? No one knows how large this shadow market is, or how much it's costing the USA (and Japan), but some estimates are over a trillion dollars.




On Fri, Aug 16, 2024 at 5:42?AM <chapman@...> wrote:
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1.? What was the one book you recently read that most impressed you?
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Assuming "recently" means this year, "The Age of Acrimony" by ?Jon Grinspan.? The book describes American national political conflict between 1865 and 1915.? When Biden and his ilk go off about Democracy being in danger (unless he personally rescues the system from Trump, you realize?how tumultuous politics really was between the Civil War and WWI, and how insignificant today's factionalism and disputes and demonstrations are in comparison.

2.? Should tips be taxed as income?
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All earned income should be taxed.? There is no reason for tips to be excluded.

3.? Should the Federal Government get out of the business of subsidizing bad behaviour?
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I have no idea what you are referring to, but don't see any reason for the federal government should do that.

I was thinking of stupid stuff like buying bigger houses on largedr lots because mortgage interest in deductible

4.? Should currency be abolished - if so what should it be replaced with?
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No, it'll just cause inflation because people tend to lose track of what they don't see or monitor, which is why no one has any savings.? If you facilitate going into debt, everyone will be in debt before you know it.? Credit cards are convenient, but even at usurious interest rates, the average balance is something like $6500, with Gen X averaging over?$9000.? Those over 70 or so, who grew up without credit cards, average only $3400.

5.? ?Who is/was your favorite author?
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Right now, it's David Foster Wallace, but he wrote few books, and I have read them all and some of his short story collection.? He committed suicide at 46 in 2008
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Ed
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On Thu, Aug 15, 2024 at 7:14?PM mrvnchpmn via <chapman=[email protected]> wrote:
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1.? What was the one book you recently read that most impressed you?

2.? Should tips be taxed as income?

3.? Should the Federal Government get out of the business of subsidizing bad behaviour?

4.? Should currency be abolished - if so what should it be replaced with?

5.? ?Who is/was your favorite author?

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