That is a pretty solid definition of exchange value. You can go shopping with that.

A dollar has value if you can buy shit for a dollar.

Gold likewise has no exchange value if you cant exchange it for goods and services. Its rare and chemically stable and good for memorial coins, has many technical uses and looks cute, but otherwise it hardly matters what symbol for money you choose. There is 200 years of experience with fiat money and gold and silver standards and fiat money has been better, not just usually better or better in some scenario, universally better.

Symbolic money is practical and facilitates quicker turn around prevents deflation makes speculative runs on currency harder and smoothes the economic bumps in the road in general.

GDP is just a metric. Not a bad one but not the actual goal.

USofA is teh most developed. Should have used growing. Deflation in an economy that is growing kills growth.

Restarting countries not only get to ignore their debts, they immediatelly start borrowing again.

The only countries that dont borrow are countries no-one will lend to and countries so rich in some silly resource they can float high in the international currency system without borrowing. Borrowing is good for bussiness.

What is outrageous idiotic bullshit? Believing pegging the value of your paper note to some hoarded luxury makes it a better representation of the mean value of goods and services bought and sold? I could do without gold except for the jacks on my audio cables (just kidding). It does not matter what I exchange for food and gas, if it gets me food and gas, its good money.

Money is what you can pay taxes with. Do they take gold?

If you insist your dollar has the value of some weight of gold how does that influence the willingness of someone else to sell you shit? Unless they specifically intend to buy gold at a fixed price they dont care. They are going to use your dolar to buy some other shit from someone else. So if you take the actual currency out of the equation, when you decide on buying and selling shit you are intuitively comparing that decision with all the other decisions about buying and sellin that you know of. The currency is just a good way to count the measure of usefullness of a product or service and compare among many. Pebbles, bottletops, dollars, gold, pearls, all just a number.

A dollar could be backed by gold or it could not, this has zero impact on the transactions made. What matters is how many transactions are made, at what value, and how much money is available to the entire marketplace in a given period of time. Transactions quickly pass the ability of a gold standard to keep up. If you want a gold standard you have to slow transactions down because you dont have the money for them.

This is why markets need some regulation, otherwise someone might sell the universe twice and then default on one. But a gold standard, at least the type of gold standard I believe was talked about in this thread as a miracle cure, would be too limiting.

TLDR Printing money is not a solution to anything, also it is not the reason the economy sucks.

Oh yeah, Tesla stock, isnt there a rule of thumb where youre not meant to invest more than 20% of your funds in one vehicle? (insert pun apology)

If by all-in you mean investing all your stock funds in tesla, while you own your house (land?) and keep your pension plan and short term savings and long term non-stock investments intact then go for it! May you live in interesting times!

If youre a normal country you are always living on credit, if for no other reason, then because it is super easy and cheap to borrow. Also you have to, to make it to the next pay check (tax collection). First your subjects have to produce and sell, then you can collect taxes.

You dont base the value of the dollar on anything. You offer it as a commodity to the market. If your economy sucks or you print too much money the dollar goes down, which can help the economy. Printing money doesnt automatically help the economy though, it just creates space and time to make it possible for the economy to improve.

Improving the economy means creating more or better products and services that are in demand at a competitive cost. Governments in non-dictatorial countries cant really do that directly, they can only create the conditions for this to happen.

Moderate inflation hardly plays a part, except as a moderator (is that a pun?) of shocks. Deflation (and a strong gold standard in a developing economy IS deflation) is deadly, it makes the economy less flexible, less able to adjust.

If you never improve your ecomomy, all you will have left will be to bitch about inflation.

What is too much debt, too much inflation, too much intervention? I wish economics was a science.

Theoretically the economy can get to be so bad that the structure collapses, there are countries which have notoriously bad historical records, and yet every time they restart they have to borrow money to get things going again. Reserves in general are useless. Production, services and a functioning market, recursive production of valuable goods and services which freely and easily find customers is the only thing you can consider a reliable pillar of civilization. Currency is one of those goods and services.

If for any reason yor currency cant freely circulate (see China or the USSR errr... Russia) you can hardly be a superpower, at least not in the economic sense.

Adopting a gold standard so strong that it would destroy the international dollar standard has no advantage for the USofA or for any developed first world country. Even just having the Euro wreaks havoc in weaker European countries economies, but that is another can of worms.

A lot of what is wrong about the gold standard would apply if a country decided to adopt bitcoin as its sole currency btw.

*promote

No!

A gold standard provides none of the perceived advantages.
There was never any stability under a gold standard.
Unless its just a Bretton-Woods type "gold" standard where the gold is symbolic. The fed printing money is what keeps economy swings moderate.

Finding a unicorn is very unlikely. Sorry.

Yes and no. For private personal transportation in first world countries a decade sounds about right, two decades at most. Unless there is some disruptive event.

There are 2 things.
Inflation.
Biden.
Correlation is not causation.

There are also only two things that can safely be done to combat inflation - raise interest rates (not Bidens job), and actually govern well, make sure public spending is going to the right places instead of fuelling the spiral. That is difficult to evaluate from a distance and at this time, but Biden still has a chance there. Unfortunately the results will only come in over a period of years if not decades. The good thing is that Biden is less ideologically bound than Trump. Trump just lowered taxes for rich people, that was his only economic plan.

Implying current inflation is Bidens fault is like blaming covid on Trump. Its the covid response that can be pinned on Trump based on numbers we have now, after the fact.

How Bidens administration does when challenged will be evaluated in a couple of years time. I am curious why the fed is reluctant to raise the rate at the moment.

Just dont blame the mountain rescuers for the avalanche.

So, he is pro-Elon basically.

He is an egomaniac and a fabulator.

They say in the vid the Y will not have federal tax credits, but I see your point.

There is no reason people who make huge profits should get tax exemptions. That should be a basic law.

Sure, have some leeway at first to promote location, new technology, etc. But once you turn a profit, pay taxes.

So basically the Trumpist argument is that if only Pence had come along the heist would have worked and no-one would have been caught stealing and killing a cop?

Trying to apply laymans logic to sequences of DNA does not work. You have to know things to be able to deduce stuff like a scientist. Look at the results. Who dies? Who lives? How do you reduce the risk that people die? Think faster and quieter than Joe Rogan.

For your daily life who cares if it came from a lab? For your mental picture of China, sure, it would be nice to know...

This mini documentary has recorded it well. The glory of the supreme leader who micromanages everything, makes sure he always looks busy and his main quality is he is the last to fall asleep at meetings. He is the one who knows the right solution to everything, if he can only make his subordinates come up with it. And he has a human side, he loves children, so he does not let them freeze to death. Thank you great leader.