Coolkidbozzy [he/him]

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Joined 5 years ago
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Cake day: July 27th, 2020

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  • from the reddit post:

    "I began almost as soon as we got into the conference room,’ FDR told [U.S. Secretary of Labor] Frances Perkins. 'I said, lifting my hand to cover a whisper (which of course had to be interpreted), Winston is cranky this morning, he got up on the wrong side of the bed. A vague smile passed over Stalin’s eyes, and I decided I was on the right track…I began to tease Churchill about his Britishness, about John Bull, about his cigars, about his habits. It began to register with Stalin. Winston got red and scowled, and the more he did so, the more Stalin smiled. Finally Stalin broke out in a deep, hearty guffaw, and for the first time in three days I saw light. I kept it up until Stalin was laughing with me, and it was then that I called him Uncle Joe. He would have thought me fresh the day before, but that day he laughed and came over and shook my hand.

    a lib like FDR would have fit in with us



  • Leah Fahy, an economist at the London-based research firm Capital Economics, expects deflation to persist through at least the end of 2026. She told me that in the absence of structural reforms, “it looks pretty likely that supply will continue to outpace demand.” The risk is that China tumbles into a long-term deflationary spiral that saps growth, much like the one that contributed to Japan’s “lost decades,” starting in the 1990s. To avoid that fate, policy makers need to reform China’s economy to encourage more consumption than investment and let market forces cull bloated industries.

    embrace xiaohongshu thought

    But China’s leaders do not seem ready to pursue these changes. Instead, the Communist Party’s latest five-year plan, a draft of which was drawn up at a party conference in October, seems to promise yet more state-led investment in manufacturing and technology, ensuring the supply glut may well persist for years to come.

    wait I thought they were talking about encouraging domestic consumption as a main point of the plan

    ohhh this economist is just ideologically against state subsidies for core industries lmao