All you mac people are so snowed or blind or just desperately trying to justify your money being wasted on a inferior product.

any thing can be done faster on a proper pc (proper meaning it uses the latest processor memory ssd and graphics card)

but the trouble comes from people when they get on pc they get cheap and expect to do their video editing in virtual dub (not knocking vdub by the way)

or try and find some other video tool they can use for free . they wont buy a proper video editing software package nor will they buy proper software tools for their jobs . they try and use free alternatives or try and pirate the software.

but when they use mac they by the video editing software and the tools they need .

it is such bs, macs are weaker hardware weaker operating system and a weaker overall tool . but since people have invested so much money into them they unjustly justify there purchases by derailing the pc as a lesser platform.

when it is not true.

pcs, can have dedicated storage that outperforms and also stores more than any mac can dream of .

pcs can be all self contained no need for plethora of external drives hanging form 4 may be 3 or is it 2? soon to become one port hanging off your mac in a needless chain of wires.

pcs can have higher resolution and better monitors better user input, better configuration options, and backwards and forward compatibility with previous and next gen software.

but no, mac users over shadow this with the base argument that their $1500 mac is some how better than the $300 desktop they love comparing to .

but when it becomes price point vs hardware mac users have no ground to stand on as they are using , even in their newest machines 3+ year old hard ware and even on a refresh they are already 1 year behind in technology.

mac is nothing more than a placebo for those who failed at using windows computers .

they constantly compare a custom 1500 dollar computer with a locked in user experience to a 300 dollar walmart special with a completely open user experience and lament the windows based product as inferior.

when in actuality it is the mac that is the inferior product.

did you know that your $2000++ mac has a 5400 rpm hardrive in it configured to work with 128gb ssd in such a way that if either of the two fail your entire data set is trashed?

yeah ... thats a well built product .

Looks like it might be a small jet engine. I'm guessing the backpack might hold the fuel. It looks like there's some sort of external hose connected to his leg (but not touching his leg.) Perhaps a fuel feed pipe?

@Gratefulmom

People who disagree with science generally don't come out so well in the end--see anti-vaxxers, climate change deniers, etc. I'd change my mind about these kindergartens if there were solid science behind them.

And if you look into it, you'll see there is very little good science to support this style of kindergarten (i.e. the sample sizes are small, no case studies or longitudinal studies, studies rely heavily on self-reporting of either parents and children, etc.) whereas there is a lot of well done research that shows the lifelong benefits of "traditional" pre-schooling (i.e. longitudinal studies that show demonstrable effects even after controlling for external factors).

I would love to see a well thought out longitudinal study that compares how the outdoor kindergarteners fair against those from traditional classrooms but unfortunately the only research I could find compared the outdoor kids to kids who had never been to kindergarten at all.

And of course comparing kids who went to any sort of kindergarten to kids who haven't is going to favor the kindergarten kids if you're looking at things like social skills, ability to take direction from adults, etc. (which is exactly what the studies done on the outdoor kindergartens do).

So it's not about disagreeing with you so much as it is not finding any evidence that this style of pre-school is better than going to a traditional preschool that includes a healthy amount of outdoor playtime (at least 1 to 2 hours a day if not more).

She's not addressing the media, she's talking about what the Republican candidates are saying.
The candidates are playing on people's fears by telling them that by accepting refugees will create an opportunity for terrorist groups to enter the country. She talks to people inside the system that determines who gets let through and where they go.
They demonstrate that it would be an extremely slow and inefficient way to move terrorists around the globe. It's all just a show to keep people focused on external threats, real or imagined.

Warning, this is long. It's a general reply to bob, but really it's a rant about the reality of this country, origins, issue, and where we are headed... Like they say in Horace and Pete, at this point we just might deserve a president like Trump (especially because we are stupid enough to vote for HIM, and for so many Senators AND Congressmen like him or even far worse)...

Reply to bob at the top...


I hate to tell you, but "SHALL", according to the times in which the founding fathers wrote this IS indeed the utmost highest form of that period meaning that you "HAVE TO" do something.

Go ahead and let your own party change what grammar and vocabulary meant from that period--or simply not have enough brains to know what it really means (though most of us know by now their assistants have let them know what it means, they just refuse to believe reality and instead insert their own collective psychotic delusion).

Typically when it says SHALL (BTW, NOT doing that job should be getting them in HUGE amounts of trouble as well), they should be doing everything they can TO nominate a new judge into the open position in their next open session (not a session one year away, so Trump or Hillary has to do it).

If they want to complain about the nominee they CAN, just while they are under scrutiny to go up for the vote. But, they simply are NOT supposed to do nothing and furthermore say they WON'T do anything...

I'll have to look up what the penalty is for not doing this, but it could be a full "boot" from their job. Simply what has been referred to by Republicans in the past as Impeachment. But, then the Senate has to start that (I'm not sure if anyone else can; hence, this is why I said I'd try to see if there is anything else that can be done)

I believe they can also do it at the state level... BUT ALL of this requires for our government officials to do their fucking jobs! PLUS, the citizens that voted them in to give a shit!
----------


We REALLY, REALLY, do not deserve a country like this...it is BARELY alive and well. We are just a few presidential terms away (plus senators and congressmen) before we grind to a complete halt.

Then we can finally watch everything implode on CNN and FOX while REAL extremists take over and then the real fun starts. True extremists taking control with minimal bloodshed and shouting matches, civil war with outcomes that grant us either the NEO-United States (the U.S.A. V:2.0, which might be good), to the Neo-Confederacy (since that is what it all amounts to on the FAR right's spectrum). OR we simply just dissolve and become something entirely new.

Hey, bob did you know that your party used to be JUST like the Democrats of Lincoln's age. The Republican's were more like the Democrat's of our age. Weird right. THAT conservative party died out with Teddy Roosevelt's Bull Moose party; then all of the citizens decided that they simply liked the name "Republican" more (since they'd always voted for that name, right...it'd be weird to change it). That is where the Republican's became a FAR different party than they had been (though they still had a few more GREAT leaders before their schism drove them all, sadly, into madness ). The "Democrat's", they thought slavery was just peachy at first, and now they vote for gay-rights. NEITHER party remembers it's roots and the citizens of the United States have had their idiotic teachers and parents tell them all sorts of stories about how great either party WAS, but never telling them what they are like NOW. We all need to vote for our president, nowadays, without even LOOKING at their part's affiliation. It doesn't do any of us any good. Because none of them have ANY real lineage or links to the old presidents of these United States--they're full of shit.

Just remember, Republicans and their party were formed basically to try and abolish slavery--now they are more likely to put it back into action; a complete reversal of their direction, progressive and liberal!

Democrats tried to keep things the same as it was and to even expand slavery--now they want to allow marijuana to be legal, allow gays to have rights, and essentially pick up many progressive and liberal causes... They too have utterly reversed the direction they were at and taking during Abraham Lincoln's time. Conservative on many topics and wanting to expand the states' rights and abilities. Now they are the ones that would abolish slavery and even have Lincoln on their ticket if he ran...

Our parties in these United States are abysmal, a joke, a farce, and shouldn't even be used... The Founding Fathers would be dismayed over so many issues it wouldn't be even funny. They would more than likely throw OUT the Constitution and start a new draft, simply due to the amount of changes we've made in the WRONG direction and the fact that they weren't able to see the future far enough ahead to imagine gigantic empires made only of Business (with a mere handful of people, not hundreds, thousands, and many more like it was in their times) and how News would become so powerful it is essentially as powerful as the president of the United States--and if watched by enough people it is even FAR more powerful than him/her (like in Russia; The Internet being the ONE thing the Founding Fathers would pat our country on the back over and it's what can restore balance to the people who watch or only can gain information from these entities; a new type of "University" where anything can be shared; truth and facts obtained at every man's fingertips nearly instantly at any point on this planet; it IS the world's greatest WONDER ever made).

Lastly, they would absolutely abhor our parties and how they are used--internally and externally (how our politicians...how all the issues interconnect together; all politicians that receive outside money, they would likely want to have them all impeached, same with those that USE the media; they would HATE parties--but they know they'll always exist, you just have to get rid of the things that LET parties abuse we the people and also the government, and those things are: money and media...).


/length

An actual elevator was not involved here, just an external door(to his ignorant surprise). But he did get the shaft.

@RedSky

First, if it were up to me, you could take over as Minister of Finance in this country tomorrow. Our differences seem miniscule compared to what horrendous policies our last three MoF have pushed. The one prior, ironically, was dubbed the most dangerous man in Europe by The Sun.

We're in agreement on almost everything you mentioned in your last comment, so I'll focus on what I perceive differently.

First, I'd differentiate between fiscal stimulus and fiscal spending, the former being a situational application of the latter. As you said, fiscal stimulus during an economic crisis tends to be inadequate with regards to our macroeconomic objectives. You can neither whip out plans for major investments at a whim nor can you mobilize the neccessary resources quickly enough to make a difference and still be reasonable efficient. Not to mention that it only affects certain parts of the economy (construction, mostly), leaving others completely in the wind. So I'm with you on that one, it's a terribly inefficient and ineffective approach.

Automatic stabilizers work magnificently in this regard, but they barely take any pressure from the lower wage groups, especially if unemployment benefits come with a metric ton of strings attached, as is the case in Germany. A basic income guarantee might work, but that's an entirely different discussion.

The problem I see with merely relying on reasonable automatic stabilizers in the form of payments is that they do put a floor into demand, but do very little to tackle the problem of persistent unemployment due to a lack of jobs. As useful as training and education are, the mere number of highly educated people forced to work mundane jobs tells me that, at best, it doesn't work, and at worst pushes a systemic problem onto the individual, leading to immense pressure. Not to mention the psychological effects of being unemployed when employment is tauted as a defining attribute of a proper person -- aka the demonization of the unemployed.

It's still somewhat decent in Australia, but in Europe... it's quite a horrible experience.

Anyway, my point is that I'd rather see a lot more fiscal spending (permanent!) in the shape of public sector jobs. A lot of work cannot be valued properly by the market; should be done without the expectation of a return of investment (hospitals, anyone?); occurs in sectors of natural monopolies -- all of that should be publicly run. A job guarantee, like your fellow countryman Bill Mitchell advocates quite clearly, might be an approach worth trying out. Economy in the shit? More people on the public payroll, at rather low (but living wage!) wages. Do it at the county/city level and you can create almost any kind of job. If the private sector wants those people instead, they'd have to offer better working conditions. No more blackmail through the fear of unemployment -- you can always take a public job, even if it is at a meagre pay.

I should probably have mentioned that I don't buy into the notion of a stable market. From where I am standing, it's inherently unstable, be it through monopolies/oligopolies, dodging of laws and regulations (Uber), impossibility to price-in externalities (environmental damage most of all) or plain, old cost-cutting leading to a system-wide depression of demand. I'm fine with interfering in the market wherever it fails to deliver on our macroeconomic objectives -- which at this point in time is almost everywhere, basically.

Healthcare is all the rage these days, thanks to the primaries. I'd take the publicly-run NHS over the privately-run abomination in the US any day of the week. And that's after all the cuts and privatizations of the last two decades that did a horrible number on the NHS. Fuck ATOS, while we're at it.

Same for the railroad: the pre-privatization Bundesbahn in Germany was something to be proud of and an immeasurable boost of both the economy and the general standard of living.

In the mid/long run, the effects of automation and climate change-induced migration will put an end to the idea of full employment, but for the time being, there's still plenty of work to be done, plenty of idle resources to be employed, and just nobody to finance it. So why not finance it through the printing press until capacity is reached?

As for the Venezuela comparison: I don't think it fits in this case. Neither does Weimar Germany, which is paraded around quite regularly. Both Venezuela and Weimar Germany had massive supply-side problems. They didn't have the production capacity nor the resources to meet the demand they created by spending money into circulation. If an economy runs at or above its capacity, any additional spending, wherever it comes from, will cause inflation. But both Europe and the US are operating faaar below capacity in any measurable metric. You mentioned LRAS yourself. I think most estimates of it, as well as most estimates of NAIRU, are off quite significantly so as to not take the pressure off the wage slaves in the lowest income sector. You need mass unemployment to keep them in line.

As you said, the participation rate is woefully low, so there's ample space. And I'd rather overshoot and cause a short spike in inflation than remain below potential and leave millions to unneccessary misery.

Given the high level of private debt, there will be no increase in spending on that front. Corporations don't feel the need to invest, since demand is down and their own vaults are filled to the brim with cash. So if the private sector intends to net save, you either have to run a current account surplus (aka leech demand from other countries) or a fiscal deficit. Doesn't work any other way, sectoral balances always sum up to zero, by definition. If we want to reduce the dangerous levels of private debt, the government needs to run a deficit. If we don't want to further increase the federal debt, the central bank has to hand the cash over directly, without the issuance of debt through the treasury.

As for the independant central bank: you can only be independant from either the government or the private sector, not both. Actually, you can't even be truly independant from either, given that people are still involved, and people have ideologies and financial ties.

Still, if an "independant" central bank is what you prefer, Adair Turner's new book "Between Debt and the Devil" might be worth a read. He's a proponent of 100% reserve banking, and argues for the occasional use of the printing press -- though controlled by an inflation-targeting central bank. According to him, QE is pointless and in order to bring nominal demand up to the level we want, we should have a fiscal stimulus financed by central bank money. The central bank controls the amount, the government decides on what to spend it on.

Not how I would do it, but given his expertise as head of the Financial Services Authority, it's quite refreshing to hear these things from someone like him.

Apologies, I got carried away... wall of text incoming.

@RedSky

I agree, monetary policy at low rates has very little to offer in terms of economic stimulus. Then again, the focus almost solely on monetary policy is part of the problem. Fiscal policy can have a massive impact, both directly (government purchases of goods and services) and indirectly (increase in automatic stabilizers). But for that you either need to be in control of your central bank, so that you can engage in Overt Monetary Financing ("printing" money). Or you need the blessing of the private banks, which is particularly true for a Vollgeld system.

The budget is the core of a parliamentary democracy, and to be at the whim of the folks at Deutsche Bank, HSBC or Credit Suisse -- no, thank you very much. We saw how that played out in Greece.

Anyway, the central bank can do miraculous things: if it provides funds to the democratically elected body in charge of the budget, aka parliament/the government. Trying to "motivate" the private banks to stock up on cheap reserves to stimulate lending is just a sign of ideology.

The great Michal Kalecki, in his essay The Political Aspects of Full Employment, summarized the general issue of government spending quite clearly. The industrial leaders stand in opposition to government spending aimed at full employment for three distinct reasons: a) dislike of government interference in the problem of employment as such; b) dislike of the direction of government spending (public investment and subsidizing consumption); c) dislike of the social and political changes resulting from the maintenance of full employment.

I'd say control over your currency is too great a tool to leave it in the hands of unelected managers. Clement Attlee knew very well why he had to nationalize the Bank of England in '46.

Back to the issue of inflation, I'd like to make two points. First, how big a role should inflation really play when talking policy. Second, what's the influence of a central bank on inflation.

Where does it come from, this focus on inflation. People usually talk about government spending when discussing inflation. Private spending is rarely brought up, even though it can be just as inflationary. So let's ignore private spending for a moment and talk purely government spending: should a deficit/surplus not be judged primarily by how well it helps us achieve our macroeconomic goals? Or more clearly, why should we sacrifice full employment or our general welfare on the altar of inflation? Yes, that's over the top. But so is the angst of inflation.

I'd say let's stick with Abba Lerner's concept of functional finance and judge deficits/surpluses purely by how well they help us achieve our macroeconomic goals. Besides, the US has run massive deficits during the GFC, so much in fact, that a great number of monetarists saw hyperinflation just around the corner. Still waiting for it. Same for Japan. Massive deficits... and deflation.

As long as spending, both private and government, doesn't push the economy beyond its limits (full employment, real resources, production capacity), out-of-control inflation just doesn't materialize. Plus, suppressing inflation is actually one thing central banks can do quite well. Unlike causing inflation, which both Japan and the EU are showcases off. Draghi can dance naked on the table, monetary policy (QE, mainly) won't push inflation upwards.

Which brings me to the second point: what's inflation, what's the cause of inflation, how can central banks manipulate it.

CPI is often used as a measure of inflation, but I prefer the GDP deflator. CPI doesn't account for externalities that you cannot influence, whatever you do. Prime case: the price of oil. Monetary policy of the Bank of Sweden has no influence on the price of oil. The GDP inflator, however, accounts for every economic activity within your currency zone -- much more useful.

General theory says, this measure of inflation goes up when demand surpasses supply. And vice versa. The primary factor of demand is domestic purchasing power, therefore wages. If you suppress wages, you suppress inflation. If you push wages, you push inflation. More specifically, you can see a direct correlation between unit labour costs and the GDP deflator in every country at any time. Here's a general graph for multiple countries, and the St. Louis FED provides a beauty for the US.

That's why it's easy for central banks to combat inflation, but almost impossible to fight deflation.

I agree about the over-reaction to the "white slavers" comment, which I think just got hyper-PC types riled up.

And he does seem pretty humble and wise, although if he was really going to practice what he's preaching he would just butt out and not say anything. To be fair, he probably got invited on the show and is just responding honestly to the questions -- which is a fair bit different than if he sought out a soapbox to complain from.

I think Lucas had a fantastic combination of Tolkien-esque level creativity AND knew how to adapt his specific creations to the broadly appealing "Hero of 1000 faces" fantasy prototype AND got lucky in many ways. He deserves a LOT of praise for all of that. ...BUT, for the original movies he knew how to delegate things that he doesn't do well -- dialog, directing, etc. He was reined in by internal and external constraints. When those largely went away, we got the prequels.

I love Star Wars and am very grateful to George Lucas for creating that universe. And I'm pretty much equally grateful that he isn't at the helm anymore.

Where's the power source? Other railgun videos I've seen require very large external power sources like arrays of car batteries to get through half a foot of ballistic gel. I think this is just a standard rifle in a costume.

A friend of mine is a PhD student in Astronomy and he sometimes observes at Arecibo in Puerto Rico (a single radio telescope). And his collaboration will generate so much data that it's faster and cheaper to send by mail on external hard drives than through any sort of network!

I never said to rely on Putin or RT solely. I just tried to explain that ignoring him and RT because of stupid reasons like that is not very wise, because the west isnt much better. You have to see all the sides to make a proper judgement.

A, B and C are irrelevant. Ownership is irrelevant because the western media is also "owned" by people with an agenda. But even between those different people there is a common agenda. You can see that in Germanys media right now very well. They are outright lying collectively to the people just to stay politically correct.

Reputation also is irrelevant because objectivity > reputation.

Funding is also irrelevant, as you said yourself. You can see it very well that it doesnt change much where they get their money from. The agenda matters. Also very well observable lately.

Putin first and foremost is a counterweight. He makes the western mistakes more obvious. He also has very good points when defending his own countries actions. Even the homosexual ones, if you ever listened to him on that topic. Yes, as a political leader he is of course manipulating, but he makes much more sense, actually uses facts and doesnt nearly lie as much as any politician I have ever seen.
You of course need to have and acknowledge those facts to realize that. But you made it clear that you arent. Comparing Russias imperialism with Americas shows just how much. Its pretty much clear the USA was involved in that coup detat once again. Now imagine how the USA would have reacted if Russia did that in Canada or Mexico. Or imagine how the USA would react to being completely surrounded by Russian military bases, having decades of history of destabilizing and overthrowing countries and whole regions, breaking and ignoring international law, even threatening the country where the international court sits to never dare to bring one of their before their court and then Russia claiming that the USA is the aggressor.

Actually Russia has long been very passive about the eastern expansion of NATO and they forgave that bleeding out of Russia towards the west in the 90s. Something like that happening at their doorstep actually justifies much MUCH harsher reactions, but they didnt use them. Instead they actually took another (hypocritical) slap in the face rather passively and silently with those sanctions.

Syria... I am surprised you even bring that up, because thats just stupid to use that for your argument. Syria has been a long ally of Russia and they asked for help after the US and NATO started bombing their infrastructure instead of ISIS. The war in Syria is even more obviously an externally funded war, not a civil war, while in the Ukraine you can actually see parts of a civil war, it started like that, because those people didnt want the new government. Also again mostly due to America and their support of other totalitarian regimes in that region.
You should read this:
https://consortiumnews.com/2015/05/31/holes-in-the-neocons-syrian-story/

Haven't seen this one in circulation yet:

Dear Chancellor Merkel,

The never-ending austerity that Europe is force-feeding the Greek people is simply not working. Now Greece has loudly said no more.

As most of the world knew it would, austerity has crushed the Greek economy, led to mass unemployment, a collapse of the banking system, made the external debt crisis far worse, with the debt problem escalating to an unpayable 175% of GDP. The economy now lies broken with tax receipts nose-diving, output and employment depressed, and businesses starved of capital.

The humanitarian impact has been colossal – 40% of children now live in poverty, infant mortality is sky-rocketing and youth unemployment is close to 50%. Corruption, tax evasion and bad accounting by previous Greek governments helped create the debt problem. But the series of so-called adjustment programs has served only to make a Great Depression the likes of which have been unseen in Europe since 1929-1933. The medicine prescribed by the German Finance Ministry and Brussels has bled the patient, not cured the disease.

Together we urge you to lead Europe to a course correction before it is too late for Greece and for the Eurozone. Right now, the Greek government is being asked to put a gun to its head and pull the trigger. Sadly, the bullet will not only kill off Greece’s future in Europe. The collateral damage will kill the Eurozone as a beacon of hope, prosperity, and democracy, and could lead to far-reaching economic consequences across the world.

In the 1950s Europe was founded on the forgiveness of past debts, notably Germany’s, which generated a massive contribution to post-war economic growth, peace, and democracy. Today we need to restructure and reduce Greek debt, give the economy breathing room to recover, and allow Greece to pay off a reduced burden of debt over a long period of time. Now is the time for a humane rethink of the punitive and failed programme of austerity of recent years and to agree to a major reduction of Greece’s debts in conjunction with much needed reforms in Greece.

We urge you to take this vital action of leadership for Greece and Germany, and also for the world. History will remember you for your actions this week. We expect and count on you to provide the bold and generous steps towards Greece that will serve Europe for generations to come.

Yours sincerely,

Heiner Flassbeck, former State Secretary in the German Federal Ministry of Finance;

Thomas Piketty, Professor of Economics at the Paris School of Economics;

Jeffrey D. Sachs, Professor of Sustainable Development, Professor of Health Policy and Management, and Director of the Earth Institute at Columbia University;

Dani Rodrik, Albert O. Hirschman Professor of Social Sciences at the Institute for Advanced Study in Princeton;

Simon Wren-Lewis, Professor of economics, Blavatnik School of Government, Oxford University

8:18 – "Germany is very financially responsible".

The clip makes a few good points, twists others and omits some central issues. But I want to comment on the quote above most of all, because it forms the basis for all kinds of arguments and recommendations.

The claim that Germany is financially responsible stems from what has been paraded around domestically as the "schwarze Null" (black zero), meaning a balanced budget. Given how focused most economic debates are around the national debt or the current budget deficit, it shouldn't come as a surprise that not running a deficit evokes positive responses in the public. If there has ever been an easy sell, politically, it's this.

However, it's not that simple.

For instance, the sectoral balance rule dictates, by pure accounting identity, that the sum of public balance, private balance and external balance is 0 at all times. In case of Germany, this means that the balanced public budget (no surplus, just a fat zero) requires a current account surplus of the same size as private savings – or an accumulation of private debt. For someone to run a surplus, someone else has to run a deficit. In this case, foreign economies have to run a deficit vis-á-vis Germany, so that neither the German government nor the German private sector have to run a deficit.

The composition of each sector is another topic entirely, but the point remains: no surplus in Germany without a deficit in the periphery. If everyone is to be like Germany, Klingons have to run the respective deficit.

My question: is it financially responsible to depend on other economies' deficits to keep your own house in order? Is it responsible to engage in this kind of behaviour after having locked yourself into a monetary union with less competitive economies who have no way of defending themselves through currency devaluation?

Second point: capital accounts and current accounts are two sides of the same coin. If Germany runs a current account surplus of X%, it also runs a capital account deficit of X%. Doesn't explain anything, but it's the same for the countries at the other side of these trade imbalances. Spain's current account deficit with Germany meant a capital inflow of the same size.

Let's look at EuroStat's dataset for current accounts. Germany had run a minor current account deficit during the late '90s and a small surplus up to 2003. From then on, it went up, up, up. Given the size of Germany's economy within Europe, that jump from 2% to 7.5% is enormous. Pre-GFC, the majority of this surplus went to... yap, PIIGS. Their deficits multiplied.

Subsequently, capital of equals size flowed into these countries, looking for investments. No nation, none, can absorb this amount of capital without it resulting in a massive misallocation, be it stock bubbles, housing bubbles, highways to nowhere or lavish consumption. Michael Pettis wrote a magnificent account (Syriza and the French indemnity of 1871-73) of this and explains how Germany handled a similar inflow of capital after the Franco-Prussian war: it crashed their economy.

As Pettis correctly points out, the question of causality remains. Was the capital flow a pull or a push?

The dataset linked above says it all happened at just about the same time, in all countries. It also happened at the same time as Germany's parliament signed of on "Agenda 2010", which is the cause of massive wage suppression in Germany. Germany intentionally lowered its unit labour costs and undercut the agreed upon inflation target (2%). German employees and retirees were forced to live below their means, so the export sector could gain competitiveness against all the other nations, including those in the same currency union. Beggar-thy-neighbour on steroids.

Greece overshot the inflation target. They lived beyond their means. But due to their size, it's economically negligable. France stayed on point the entire time, has higher productivity than Germany and still gets defamed as the lame duck of Europe. Yet Germany, after more than a decade of financial warfare against its fellow members of the EU/EZ, is hailed as the beacon of financial responsibility.

Mercantilism always comes at the cost of others. And the EU is living proof.

Lol not everyone had a sound card back then. Saddly it does no look like anyone as done a video of the days of audio over the pc speaker. I mean it was mostly un exciting, but there were a few example of great engineering feets. Some games that used MOD music (usually if it was done on AMIGA first and ported to pc) mixed the digital music into a mono WAV form and used the interrupt heavy digital audio output over pc speaker method. I owned a game that I can no longer remember that had a custom audio track that was fairly simular, and rapidly alternated between 2-3 instrument tracks for a fairly convincing melodic background music without the huge performance overhead trying to do MOD music over pc speaker had.

If it isn't obvious, I was a huge audio fanboi back then. Started with my C64 and SID music (I even owned the external SID cartridge for 6 track stereo music), and when i got my first PC (486) I picked up a 2x cdrom and sound blaster PRO (had to have dat stereo sound) for my birthday.