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20 September
19 September
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Their words
actually, there are three economic superpowers in the world by this measure. There’s the United States, there’s China, which is clearly number one, and then there’s the EU, which are roughly co-equal.
From one piece Better Debt 2 beliefs · grumpy-economist.com
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Their words
In QE, the Treasury issued long-term bonds. The Fed bought up the long bonds, issued overnight debt, and passed the interest difference back to the Treasury. In the end, it is just as if the Treasury issued overnight debt in the first place.
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Their words
The tradeoff between cost of borrowing and how much interest rate risk taxpayers shoulder should be squarely on the shoulders of the politically-accountable Treasury not the independent Fed.
18 September
17 September
16 September
15 September
From one piece @levelsio on X 2 beliefs · x.com
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Their words
I think we should use this kinds of data to completely turn around Europe's immigration policy: - We should have super easy inflow for immigrants from countries whose previous immigrants have shown low crime rates You're from Japan? Just fly here and you can stay forever - We should then almost completely ban any inflow from countries whose previous immigrants have shown high crime rates with instant deportations
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Their words
I think this is the most common sense policy and it'll make Europe much safer
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Their words
The European Union is big - the third largest economy in the world, but it has great difficulty in transforming economic strength into geopolitical clout.
14 September
13 September
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Their words
Making trade deals with EU is good for Canada. Anything beyond that is just anchoring ourselves to a block who’s economic ambitions aren’t much higher than being an “open air museum”.
12 September
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korrents.com
Higher real interest rates reflect a more optimistic collective view of future economic abundance.Their words
Higher real rates mean that the average view of the future is more abundant, and that it's worth sacrificing more to get to that future sooner.
11 September
10 September
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korrents.com
The simplest explanation for rising long-term interest rates is a surge in demand for funds from the AI boom.Their words
The simplest story consistent with the facts is that we’re seeing a surge in demand for funds as a result of the AI boom.
9 September
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korrents.com
Most commercially produced black pudding today is made with dried blood imported from Europe rather than fresh blood.Their words
Fruit Pig are one of the few black pudding producers at scale who use fresh blood - most black pudding these days is made with dried blood imported from Europe.
8 September
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korrents.com
Israel's actions in Gaza, the West Bank and Lebanon amount to ethnic cleansing and genocide.Their words
this is all about support for the ongoing Israeli campaign of ethnic cleansing and genocide, which continues with daily slaughter of civilians and demolitions of their homes and communities in Gaza, the West Bank, and now southern Lebanon.
7 September
6 September
4 September
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Their words
Worse, U.S. officials now openly support and encourage politicians from far-right anti-European political parties, partly because they are ideologically aligned, but partly because Americans now want to weaken the European Union so that U.S. tech companies can evade any regulation, or even taxation.
The Myth of the “Censorship Industrial Complex”anneapplebaum.substack.com
3 September
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korrents.com
Europe's dominant cultural spirit is anti-tech, anti-AI, anti-entrepreneurship, anti-business and anti-progress.Their words
Portugal's choice is cultural though and completely fits the general spirit in Europe which is fully anti-tech, anti-AI, anti-entrepreneurship, anti-business and anti-progress
2 September
1 September
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Their words
And yet, life expectancy about two years more than the national average is rather common in rich regions with selective migration, even in European countries with even access to health care, like France and Spain.
31 August
- Mastodon
- NewsletterIssue 109 – Reg Crypto
29 August
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Their words
In the 70s and 80s, Japanese companies could get cheap plentiful bank loans to develop new products and explore new markets. Today, they can't. Innovation is downstream of finance.
28 August
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Their words
But I think there have been enough studies now isolating those variables that show that AI is directly responsible for a lot of this job loss.
26 August
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korrents.com
Small European states can demand a war with Russia only because they assume somebody else will fight it.Their words
It is also hypocritical because it is based on the assumption that somebody else (in this case, the United States) will fight for them.
On European hypocrisy and warmongeringbranko2f7.substack.com
25 August
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korrents.com
The Trump administration's approach to Greenland is widely perceived as threatening across Europe.Their words
The Trump administration's ongoing obsession with Greenland feels menacing to everyone in Scandinavia, indeed everyone in Europe.
24 August
23 August
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korrents.com
Most high-skilled Europeans are happy to pay even high taxes, provided the government does a great job in return.Their words
I think most high skilled Europeans are happy to pay (even high) taxes That is, if the government does a great job like Singapore or Dubai or Korea or Japan and most things work well You pay the government for a service and you get safe cities, great public services and great healthcare back
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korrents.com
After a European exit tax, the EU will try to tax its citizens' worldwide income wherever in the world they live.Their words
European governments and thus the EU too is losing lots of tax income from Europeans fleeing Next on the agenda is the European Exit Tax and after that I think they will try to add Worldwide Income Tax (like the US already has) meaning it doesn't matter where you live in the world as a European citizen, the EU will tax you for your entire income!
21 August
From one piece How Countries Go Broke: The Dynamic Behind What is Happening Now 2 beliefs · raydalio.substack.com
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Their words
The debt dynamics work the same for a central government as they do for a person or a company, except that a central government has a central bank that can print money (which devalues it) and it can take money away from people via taxes.
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Their words
Early in the final stage of the Big Debt Cycle, the market action reflects this dynamic via interest rates rising led by long-term rates, the currency declining especially relative to gold, and the central government’s treasury department shortening the maturities of its debt offerings because of a shortage of the demand for long-term debt.
20 August
18 August
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Their words
have to abide by this rule that was written before LLMs were even a thing. And that shows how challenging sort of the the the situation is if you try to set the line too firm to begin with.
15 August
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Their words
The USA has kept dribbling small amounts of military support for Ukraine because it gives the USA a great deal of leverage, the ability to both shape how Ukraine fights its war and even how European states prepare.
13 August
10 August
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Their words
Many startups are racing to create foundational world models, but I think the first ones to succeed will likely be the platforms in control of this data bank.
7 August
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Their words
I think one of the things that makes science the company very special is that it has both of those cultures and is able to integrate them and we're able to simultaneously do some really cool research that I think is really at the edge of the Overton window while simultaneously running clinical trials in six countries now with an approved medical device in Europe and clinical trial results in the New England Journal of Medicine.
3 August
2 August
1 August
29 July
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Their words
So, it's hard to tell how much of like the loss of the past few years was AI versus the end of like zero interest rate policy and like the post-COVID crash. And I think it's more the latter, but like again, LLMs are still getting better.
From one piece Chartbook 462: China shocked - beyond 1.0 and 2.0 to the "Big One". 2 beliefs, in the piece's order there
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Their words
China shock 2.0 threatens high status manufactured goods: European cars and engineering.
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korrents.com
The second China shock is landing on Europe, where the first one landed on the United States.Their words
In China shock 1.0 the key target was the US. In China shock 2.0 it is Europe.
28 July
22 July
From one piece Chartbook 460 Greedflation meets China shock: Can Europe's car industry be saved without making the cost of living crisis worse? 3 beliefs, in the piece's order there
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korrents.com
Protection for European industry should be granted only alongside demands for systematic reform of that industry.Their words
And this in turn means that if we really want to find a way out of the impasse, advocacy for protection and support should be tied to demands for systematic reform.
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Their words
To put this same story another way, the European car industry in the early 2020s was a prime example of greedflation i.e. companies taking advantage of the COVID shock and other disruptions and to hike profits at the expense of consumers.
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Their words
The two seemingly contradictory trends connect, because the relatively low rate of productive investment leaves European industry vulnerable to its most vigorous competitors whose firms are contending with an even more deflationary macroeconomic situation at home in China.
20 July
17 July
16 July
14 July
13 July
12 July
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Their words
Just like Hollywood once compared Netflix to the Albanian Army, the US establishment doesn’t yet understand how much better Satoshi Nakamoto or Vitalik Buterin is than every apparatchik they have in the Federal Reserve system.
10 July
9 July
2 July
30 June
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Lovedrcmnd.app
Everybody's PerfectTheir words
And now it's Everybody's Perfect, a book that pretty much defines what it means for one text to be "in dialog" with another text. In this case, it's Ada Palmer's Inventing the Renaissance, a stunning magnum opus that tells not just the story of the Renaissance, but the story of the story, all the different ways the Renaissance has been used, abused, revised and recovered, starting with the Renaissance itself. It's a book that will make you rethink everything you know about European history, about the world today, and about the very idea of history itself
28 June
From one piece Europe Needs Air Conditioning 3 beliefs, in the piece's order there
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korrents.com
American overregulation and labor-market rigidity make elevators far more common in Europe than in the US.Their words
elevators are the rare part of the economy where Europeans have embraced market dynamism while Americans choose overregulation and labor market rigidity.
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Their words
European leftists explicitly advocate that people should be kept poor, uncomfortable, and literally sweating.
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korrents.com
European countries are wealthy enough to afford widespread air conditioning, comparable to Japan.Their words
Europe is not actually poor. Japan is about as wealthy as Europe, and almost all Japanese homes are air-conditioned. Europeans could afford to air-condition their homes (and their hospitals!) just like the Japanese do.
19 June
16 June
From one piece Europe's housing shortages are even worse than America's 4 beliefs, in the piece's order there
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Their words
In fact, zoning was invented in Europe, in Germany and Austria-Hungary, in the late nineteenth century.
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korrents.com
Europe's housing shortages are worse than America's, and Europeans do not discuss zoning as their cause at all.Their words
In fact, European housing shortages are generally worse than America’s.
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Their words
I suspect the same is often true in the rest of Europe: NIMBYism is the ultimate reason why the French and German states don’t solve their housing shortages through unbanning densification, but since the claims of the NIMBYs have been preemptively conceded by everyone, NIMBYism has basically remained latent.
+ 1 more
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Their words
But this effect is far too small to explain the increase in house prices in Europe since 1914, when, after all, most urban continental Europeans lived in flats.
From one piece Machiavelli is the most misunderstood thinker of all time – Ada Palmer 2 beliefs, in the piece's order there
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Their words
And soon we have a precedent that every new pope feels he has the authority to knock down every pawn upon the chessboard if he feels like it. Once that is the norm, even a fairly nice pope still inherits the idea that the pope is going to overthrow and replace governments. And this creates a unique instability within Italy that no other part of Europe is subject to
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Their words
Machiavelli is the first person that we have ever in the European tradition to suggest that it could be viable for there to be more than one political party in a state at the same time.
13 June
10 June
9 June
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Their words
They're the only uh power in Europe that doesn't need to maintain a large standing army because if Britain could maintain a competent navy, no army's going to reach British shores cuz they're going to be drowned at sea.
5 June
4 June
From one piece The better AI gets, the smaller its share of the economy might get – Alex Imas and Phil Trammell 2 beliefs, in the piece's order there
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Their words
things have to go really wrong for us to like just get over the threshold of uh you know, capital being productive enough to automate lots of work, but not be productive enough that that the interest rate is high and or the price of capital produced goods is falling a lot, okay? So, even without redistribution, a little bit of savings will save a lot of people.
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Their words
It might be that every robot now can turn into, you know, 100 robots next year, right? So, in units of robots the interest rate is 10,000%.
29 May
28 May
15 May
From one piece Fed Board Members: Stay In Your Seats 2 beliefs, in the piece's order there
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korrents.com
Federal Reserve Board members have historically often resigned before completing their full terms.Their words
Federal Reserve Board members have often resigned their positions well before their 14-year terms expired, since that's quite a long time to spend in one position in government.
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korrents.com
The Federal Reserve will need to raise interest rates rather than cut them to bring down inflation.Their words
I will be surprised if there are any votes for rate cuts, even from Warsh himself. The Fed may need to hike rates this year to tame inflation.
10 May
From one piece Is Europe in Economic Decline? 2 beliefs, in the piece's order there
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Their words
Europe, along with China and the United States, is an economic superpower. And, at this point in time, it is arguably the world’s only democratic superpower.
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korrents.com
Europe is not in economic decline; by the measures that matter most it is keeping up with the United States.Their words
Moreover, by many measures — arguably the most important measures — Europe is, in fact, keeping up with the United States.
8 May
From one piece David Reich – Bronze Age shock, the Neanderthal puzzle, & the sudden spread of farming 3 beliefs, in the piece's order there
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Their words
And so, maybe what you're seeing is that this group of people in Europe and the Middle East over the last 10,000 years has moved into a a period of relatively more stable food, where building up stores of fat are not as advantageous, and there's been selection against this combination of traits.
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Their words
So we just could not see a way this could happen by chance and once we saw that we really felt quite convinced that this was a real signal and that really somehow there has been natural selection to increase the genetic changes that today manifest themselves as more years of school at predicting more years of schooling.
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Their words
but it is the tracer dye, right? Like it tracks into European languages and important aspects of Indo-European culture are coming through Yamnaya.
1 May
24 April
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Their words
Canada and much of Europe have adopted different interrogation techniques — such as the PEACE method — which emphasize collecting reliable information over coercion. These approaches still garner confessions; they’re just more reliable.
22 April
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Their words
So, what if geopolitics was to go horribly wrong and tensions escalate and Europe find itself suddenly locked out of US cloud services? I hope that doesn't happen. I still think it's fairly unlikely, but it's no longer unthinkable.
9 April
2 April
20 March
9 March
18 January
1 January
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Likedrcmnd.app
1913: The Year Before the StormTheir words
1913: The Year Before the Storm presents a whimsical slice of Central Europe. Art historian Florian Illies collates fragments of leading figures month by month, diary-entry style.
28 December 2025
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Lovedrcmnd.app
GhostmanTheir words
Ghostman by Roger Hobbs is a crime thriller about robbing a Malaysian bank and an Atlantic City casino. Riveting characters. A gut-punch of a story. I love a good heist, and this one is bristling with technical details that make you wonder whether the author has some secrets of his own.
20 November 2025
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Their words
Learning loss is a global phenomenon, exacerbated by a catastrophic event, not a structural flaw unique to the American education system.
10 October 2025
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Their words
When the Ukrainians say that they are defending Europe’s borders they are correct.
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Recommendsrcmnd.app
Odd LotsTheir words
For much more on that side of things, you should read Money Stuff or listen to Odd Lots, which cover “private credit is the new bank lending” all the time.
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Recommendsrcmnd.app
Money StuffTheir words
For much more on that side of things, you should read Money Stuff or listen to Odd Lots, which cover “private credit is the new bank lending” all the time.
8 October 2025
5 October 2025
30 September 2025
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Their words
Because today, if you take France for example which is a beautiful country with a lot of talented people, but public expenses are 58% of the country's GDP, it's maybe as much more than in the latest stage of the Soviet Union.
27 September 2025
18 September 2025
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Their words
The average European and UK voter, once he or she moves on from immigration, will notice how Europe and the UK have made energy unaffordable, stopped its growth-exactly as degrowthers wish-and deindustrialized, on the altar of climate policies that do nothing to improve the climate.
10 September 2025
From one piece 2025 State of the Union Address by President von der Leyen, 10 September 2025 2 beliefs · enlargement.ec.europa.eu
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Their words
This must be Europe's Independence Moment. I believe this is our Union's mission. To be able to take care of our own defence and security. To take control over the technologies and energies that will fuel our economies.
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korrents.com
A new world order based on raw power is being drawn right now, and Europe has to fight for its place in it.Their words
Battlelines for a new world order based on power are being drawn right now. So, yes, Europe must fight. For its place in a world in which many major powers are either ambivalent or openly hostile to Europe.
6 September 2025
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Likedrcmnd.app
Starling BankTheir words
Starling Bank is one of the big challenger banks here in the UK. The app is easy-to-use, and it automatically syncs my transactions into FreeAgent.
13 August 2025
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Their words
Almost all discussions of it center on “data”, but it’s actually a fight about payments, and whether banks have a right to monopolize and charge for all economic activity their users engage in, irrespective of whether the bank operates the payment method.
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Their words
One interesting point is that, in China, you ask the companies to innovate first, and then you regulate after, right? So, that has led to things like P2P platforms. It’s led to lots of kind of financial innovations, some of which has actually been very helpful and good, some of which had been disastrous, but the intention to regulate after the fact is to really not slow down or hinder the innovation. This is a very different approach from Europe. You regulate first, and then companies have to work around that.
31 July 2025
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Their words
We really don't have any well-documented case of anybody, say, from China visiting Europe or Europe visiting China before the Mongols. But since Chinggis Khan, there's never been a year without contact between east and west. It was permanent. Once he created it, it was permanent.
16 July 2025
From one piece The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bank 5 beliefs, in the piece's order there
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Their words
You know, in the banking business, the character the clients you have will reflect in your bank. So, the first thing is who you're doing business with, how you're doing business
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Their words
And the interest rate exposure was hidden by accounting. It was called held to maturity, where you don't have to mark even treasuries to market.
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Their words
But they they both had something something unique that we didn't know at the time. I'm going to call them concentrated deposits. Not uninsured cuz people are misstating that, concentrated.
+ 2 more
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korrents.com
A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it.Their words
And so, I always look what I call the fat tails and manage that we can handle all the all the fat tails. And not the stress test the Fed gives us, but all the fat tails.
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Their words
So, you while we kind of saved the system a lot, we bailed a lot of people out, they made us pay 5 billion dollars on the more the bad mortgages that Bear Stearns had done. And that's what made me make the statement I wouldn't do it again.
6 July 2025
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Their words
If a new monetary network with its own unit (i.e. not pegged to an existing currency as a credit rail on top of it, but rather a fully parallel system to central banks) is going to bootstrap from zero to massive, it requires upward volatility.
16 June 2025
1 June 2025
15 May 2025
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Their words
Another factor that is killing Europe’s competitiveness — not just for batteries but for many industrial products — is the high electricity costs.
14 May 2025
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korrents.com
Germany will provide whatever money the Bundeswehr needs to become the strongest conventional army in Europe.Their words
Die Bundesregierung wird zukünftig alle finanziellen Mittel zur Verfügung stellen, die die Bundeswehr braucht, um zur konventionell stärksten Armee Europas zu werden.
30 April 2025
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Their words
I am not here to tell you that the medieval period is a specifically peaceful time, but it pales in comparison to what goes down in the early modern period, in which both the apparently beloved Renaissance and Enlightenment periods lie.
On what Americans know about medieval historygoing-medieval.com
14 April 2025
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Their words
But the spike in interest rates require to do this would be huge. And the trade shock will cause a sharp recession, or worse, putting even more stress on the budget. A debt crisis is likely along the way as the US finds it impossible to roll over debt.
31 March 2025
5 March 2025
21 January 2025
From one piece No, South Korea Was Not Poorer Than Kenya in 1960 2 beliefs, in the piece's order there
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Their words
The relative absence of pre-colonial states meant that the newly independent African states were largely European inventions; modern Kenya, for instance, inherits the boundaries of British East Africa, which was created by pulling together the Kikuyu, Luo, Luhya, Kalenjin, and Kamba ethnic groups.
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korrents.com
Japanese colonial rule built a far deeper state in Korea than European rule ever built in sub-Saharan Africa.Their words
The Japanese empire reached far deeper into its colonies than any European empire ever did in Sub-Saharan Africa.
19 January 2025
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Their words
Friedman and Schwartz becomes the playbook for the Federal Reserve. We have lived through this, the financial crisis. The Federal Reserve is ready to loan. Covid, the Federal Reserve does all kinds of new things, because no Federal Reserve chair wants to be in Friedman-Schwartz 2.0 that somebody writes, where they're the bad guy who let the economy meltdown.
8 January 2025
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Their words
Since inflation is not primarily driven by private-sector lending in the current environment, making borrowing more expensive will not significantly cool the economy.
20 December 2024
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korrents.com
China now starts about a quarter of the world's new clinical trials, more than Europe does.Their words
Chinese companies are now responsible for about a quarter of new trial starts — more than Europe.
16 December 2024
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Usesrcmnd.app
Tech Lead JournalTheir words
discussions from software engineering leaders, with a focus on Asia and Europe.
7 December 2024
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Their words
In truth, the UK shares high costs with more decentralized countries, and Spain shares low ones with more centralized ones.
Low Spanish Costs are not About Decentralizationpedestrianobservations.com
3 December 2024
1 November 2024
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korrents.com
Europe is losing the competition for talented migrants because it is not an attractive enough destination.Their words
Europe’s real problem is that we are not a competitive destination.
2 October 2024
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korrents.com
Without SpaceX, neither the United States nor Europe would have adequate access to space of its own.Their words
But for SpaceX, both the US and Europe would lack adequate strategic access to space.
30 September 2024
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korrents.com
Maya hieroglyphs must have been readable across several spoken languages, the way Chinese characters or Latin were.Their words
There must have been a way that multiple languages understood the same writing system. Or maybe there was something like Latin. You know how there was a period in Europe where most people were illiterate and there was this priesthood who all understood Latin and they wrote in Latin? Maybe the hieroglyphs represent a kind of Latin in the ancient Maya world.
29 May 2024
25 April 2024
From one piece Speech on Europe, Sorbonne, 25 April 2024 (Elysee English transcript) 3 beliefs · elysee.fr
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korrents.com
Europe is mortal — it can die, and whether it does depends entirely on choices Europeans make now.Their words
My message today is simple. Paul Valéry said, at the end of the First World War, that we now know that our civilizations are mortal. We must be clear on the fact that our Europe, today, is mortal. It can die. It can die, and that depends entirely on our choices. But these choices must be made now.
-
Their words
And so yes, the era when Europe bought its energy and fertilizers from Russia, had its goods manufactured in China, and delegated its security to the United States of America, is over.
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Their words
We cannot sustain the most stringent environmental and social norms, invest less than our competitors, have a more naive trade policy than them and think that we will continue to generate jobs. This no longer holds together.
18 April 2024
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Their words
Deleting the UPSs could knock off ~$750/kW after considering equipment, installation, and square footage reduction.
How to Make Off Grid Data Centers Affordableaustinvernon.site
4 March 2024
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Their words
My understanding is there are Nazis in Ukraine and there are supporters of white supremacy theories, but also my understanding is that they are extremely marginal and they are more marginal than the same sort of groups are in Central Europe, maybe in the U.S. as well.
17 November 2023
From one piece John Mearsheimer: Israel-Palestine, Russia-Ukraine, China, NATO, and WW3 | Lex Fridman Podcast #401 2 beliefs, in the piece's order there
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Their words
All the evidence is that Hispanics are integrating into the American mainstream more quickly and more effectively than the European immigrant groups that came starting around 1835.
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Their words
And I believe that there is a good chance you would've had World War II in the absence of Hitler. I believe that Germany was very powerful, it was deeply worried about the balance of power in Europe, and it had strong incentives to behave aggressively in the late 1930s, early 1940s.
6 November 2023
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Their words, before
If the future is like the past, this implies that debt rollovers—that is, the issuance of debt without a subsequent increase in taxes—may well be feasible. Put bluntly, public debt may have no fiscal cost.
Their words now
Across advanced economies, the celebrated ( r - g ), i.e., the difference between the interest rate and the growth rate, appears to have durably changed sign or, at a minimum, to have gone from a substantially negative number to a number closer to zero.
1 October 2023
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korrents.com
Interest rates have little effect on investment, and central banks have limited control over real interest rates.Their words
In the actual data, interest rates don’t seem to drive investment that much, and furthermore central bank influence over the real rate of interest typically is limited.
4 September 2023
3 August 2023
4 March 2023
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Their words
Beijing decided to partner with Russia, an imperial aggressor, when it is the US and Europe that have markets and technology.
14 January 2023
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Their words, before
The Fed needs PCE inflation to average 1.96% for the remainder of the decade in order to hit their AIT target.
Their words now
I assumed they intended inflation to average roughly 2% during the 2020s.
13 October 2022
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Likedrcmnd.app
Savage Continent: Europe in the Aftermath of World War IITheir words
a fascinating book on the bloody aftermath of WWII as the destruction wound down
26 August 2022
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Their words
The thing is, being a particularly complex or efficient agrarian economy doesn’t seem to have been the most important thing for producing the industrial revolution or it almost certainly would have happened earlier and probably not in Europe.
19 August 2022
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Recommendsrcmnd.app
The European MiracleTheir words
I recommended Eric Jones’ The European Miracle
25 July 2022
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Their words, before
If you get a check during a pandemic, you’re not going to go out and spend it at restaurants and bars, because…well, there’s a pandemic. Instead, you’re more likely to stick it in the bank, pay down debt, or pay the back rent that you owe.
Their words now
I had some theory and some evidence on my side for this prediction, and yet I ended up being very wrong about what would happen to consumption.
22 June 2022
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Dislikedrcmnd.app
End the FedTheir words
It's a book by a politician, about what you expect. Some interesting tid bits on the history of the Fed but you could get it from Wikipedia.
6 June 2022
1 June 2022
From one piece Fiscal Policy under Low Interest Rates 5 beliefs, in the piece's order there
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Their words
A low r is actually a signal that something is wrong with the economy: In effect, if we think of the safe rate as the risk-adjusted rate of return on capital, the low safe rate is sending the signal that, risk adjusted, the return on capital is low.
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Their words
The proposition is that the cancellation of the bonds held by the central bank would decrease the amount of interest payments and thus the debt service of governments. And indeed, it would. But it would have another effect—namely, to decrease the revenues of the central bank and thus the profits that the central bank turns in to the government. This second effect would be exactly of the same size as the first, and the net effect on the government budget constraint would be equal to zero.
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Their words
A longer maturity of debt protects the government from a temporary increase in the short run interest rate, and it gives it more time to adjust to a permanent increase.
+ 2 more
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Their words
If a fiscal expansion takes place when output is already at potential, monetary policy is likely to tighten, leading to higher interest rates and thus a smaller effect or even no effect of the fiscal expansion on output.
-
korrents.com
There is no tight relation between growth rates and interest rates, either theoretically or empirically.Their words
while the growth rate may well affect saving and investment, there is no tight relation between growth rates and interest rates, either on theoretical or empirical grounds.
1 March 2022
Nothing matches.
What is a korrent?
A korrent is a belief a person has stated in their own words: one sentence stating the claim, backed by a quote and a source, kept at korrents.com.
Under a name here, the quoted block is what they actually said. The korrent beneath it is the claim those words support, in korrents' wording — tap it to see the record, its source, and who else holds it.
Nobody here wrote their own korrents. They are compiled from public statements, and a person can change their mind, which is recorded too.
About the English under a post
Some people here publish in a language other than English. Where they do, this site shows a machine translation beneath the post, in this typeface — the site's own, not theirs.
The post itself is never changed, moved or hidden: what is set in the serif above is exactly what the person published, and it is what to quote them on. A translation can be wrong in ways that matter, especially about tone.
Only the post's own words are translated. A quoted post, a linked article and a belief on korrents.com are left in their original language.