Already have an account? log in
This article is FREE for you
Create a free account and join institutional investors, analysts and strategists from the world's largest banks
By submitting your email address you agree to receive communication by email
Maximum Bitcoin, Minimum Wage
If you wanted to be dramatic about it, you could call February 8, 2021, the day when investors in S&
OR, subscribe now for unlimited access
By submitting your email address you agree to receive communication by email
By submitting your email address you agree to receive communication by email
The CBO’s reliance on classical supply/demand and price/cost concepts seems alnost quaint. The rest of us sees sales increasing when prices go up, if houses, Starbucks, cars, VIP tickets and Netflix count for anything. But labor costs? It’s the end of the world as the 1% know it. Even $15 is a joke, and yet still just a pipe dream.
Why point to a 256 year old philosophy as a guide to the use of monetary control. Do we still dip wicks to make candles?
The cause of the recent conundrum dis/deflation?
Automation.
My farms employ 70+% fewer with 350% more acres under cultivation. Turnover is reduced because I pay more than prevailing wage.
A globally recognized currency would make commerce a lot simpler for me.
Bitcoin ain’t it.