A fraction of fractional reserve

Bank panic.

Remember Trump is a Boomer.

That would help the welfare cliff. Otherwise starving seniors will burden their kids, who can’t work those hours – less revenue instantly.

Capital gains should be taxed the same or actually more than wages, since they did nothing to produce that money unlike an actual job. More popular would be to swap them around, make the CG tax rate the new income tax for all (provide incentive for ambition) and the old income tax rate uppermost becomes the new CG tax. You need to encourage people to work, not to park fiat debt into foreign companies that AREN’T HIRING domestic workers (i.e. no revenue or remittance into oblivion). Buybacks show how fake stocks are. Those CG gains are pixie dust. Turn AWAY from the iceberg! You don’t have enough lifeboats!

All bank accounts you ‘think’ you own, you don’t. Even the rich people are extended a credit line of X, called fountain pen money. Deposit, real, is written up as CREDIT aka debt.

Cultural individualism and businesses

https://www.ecfed2018.unican.es/wp-content/uploads/2018/06/Empreendedorismo-20180530-Daisy.pdf
Individualism, Culture and Entrepreneurial Opportunities*

brb altering history

The present paper evaluates the effect of living in an individualistic society on
entrepreneurial opportunities, using cross-country data from the GEDI. Individualism
is one of the five cultural dimensions proposed by Hofstede (2001) and it is considered
by intercultural psychologists the main dimension of cultural variation. For individualism is a cultural trait that emphasizes freedom and rewards one’s own personal
achievements, it increases the propensity to open new businesses and realize own ideas,
despite the possibility of failure. So as to prevent reverse causality between individualism and entrepreneurial activity, we use the frequency of blood types and other
genetic data as instruments. The data show a positive and highly significant effect
of individualism on entrepreneurship, even after controlling for education, religion,
fertility, unemployment, the ease of doing business, networking, among others.

Economists try to pretend the race-culture connection isn’t important but….

I screencapped.

Look at ‘lil Venezuela down there, I wonder what will happen to them?

This is why Trump doing the trade war is a genius move. THIS.

In countries with more individualistic cultural characteristics, they have a predominance of individuals seeking potentially better opportunities to conduct an initial business, as well as characteristics with a greater perception of entrepreneurial opportunity. Similarly, Figure 5 suggests that countries with
more individualistic cultures often have greater opportunities to start a business. As for example, Canada, United States, Great Britain and Australia. The ten countries with the highest GEI index in 2017 were: the USA, Switzerland, Canada, Sweden, Denmark, Iceland, Australia, the United Kingdom, Ireland and the Netherlands.

I wonder what THEY have in common.

1950s GDP: not race (only) but cultural individualism.

Therefore, it measures the quality of entrepreneurship, as we are concerned with the quality of entrepreneurship: the entrepreneur driven by opportunities that generate commercial success. The definition of entrepreneurship that we will adopt is related to job creation and growth through innovation.

aka GDP, real ingroup gains

No, Asians can’t take over capitalism. That can literally never happen.

They’re collectivists, they get crony capitalism, they’ll fuck it up.

We just have to survive that.

I wonder what this figure indicates…

Yes.

You’ve got me.

Yes, this is definitely my opinion.

My educated opinion.

As you can see, I am very jelly.

Thus, the most appropriate model for the analysis of the effect of entrepreneurial activity on individualism is that of column (5).

Considering the above-identified situation of a possible endogeneity between the variables, instrumental fractional variables were included for the econometric analysis. This process requires variables that are related to individualism, but not to entrepreneurial activity.
This hypothesis is sufficient so that the causal relation can be established in the proper direction. Thus, for individualism we use the blood distance of Mahalanobis and the pathogenic genes according to Gorodnichenko and Roland (2017). In table 2, the individualism and each possibility of instrument: distM-UK and mean of pathogens, which are, respectively, Mahalanobis blood distance between the country in England and the mean of the presence of the nine genes pathogens considered relevant to Murray’s individualist collectivist analysis: leishmaniasis, trypanosomes, malaria, schistosomiasis, filaria, leprosy,dengue, typhus and tuberculosis.

My opinion, clearly.

I magically altered their blood, to lie.

I can do that.

The relationship is negative, because it suggests that the closer to the entrepreneurial country, the more individualistic the culture will be.

Table 3 includes some more control variables, particularly related to institutions and their long-run effect on development. Precisely due to their persistence, it is important to separate the effect of culture from institutions as good as possible, although this it is a difficult matter and still an ample field of research (Gorodnichenko and Roland 2017; Spolaore and Wacziarg 2013)

Muh opinion, clearly.

I’m just jealous of cultures that enslave their children to make my phone.

Table 4 repeats our preferred estimation, the fractional probit instrumental variable model,
for a number of subsamples. On the one hand, the sample is divided into countries that
experienced European colonization and those that did not. The former may have suffered
a mixture of cultures that is not captured by the genetic data. Therefore, if any, we expect
the effect of individualism to be stronger and more precise in the latter subsample.

To sum up, we find remarkably few differences in the magnitude of the individualism index
across the estimations in tables 3 and 4. In fact, the point estimate is not statistically
different from the baseline regressions in table 2 and in all of the seven estimation do
we obtain a positive and significant effect of individualism on the opportunity to start a
business.

The argument for muh civic nationalism, muh brain drain immigration is a pack of lies.

They are not the same as us.

The present paper evaluated the hypothesis that individualism can influence the entrepreneurial activity, accounting for cross-country differences in education, religion, fertility, unemployment, ease of opening a company and networking. The data shows a strong and remarkably robust relationship between living in an individualistic culture and entrepreneurship.

Things libertarians pretend to give a shit about.

The West is WEIRD – nobody else.

Although one should be careful in interpreting our results as causal, our estimates of fractional probit instrumental variable approach suggests a plausible interpretation of this relationship. We explored other potentially important channels in determining entrepreneurial activity.
The effect may potentially be confounded by geography, climate conditions, or through European colonization, as well as through persistent institutions, such as the risk of expropriation. In addition, the influence of the culture dimension of individualism was tested separately for each group of countries belonging to the OECD or not. It was concluded that the effects remained positive and significant, confirming the validity of the results and of the instruments.
Finally, the perceptions of the opportunity to start a business are different from society
to society, so the origin of these differences and their influences is important. Thus, this
article thus complements the studies on entrepreneurship (Pinillos and Reyes (2011), Liñán
and Fernandez-Serrano (2014), Dheer (2017), Doepke and Zilibotti (2014), Laskovaia et al.
(2017) and Nikolaev et al. (2018).

Ya snooze, ya lose.

Price controls don’t work

Not in Argentina, not ever.

How many centuries before we get this?

http://captaincapitalism.blogspot.com/2019/07/price-controls-do-not-compensate-for.html

FYI

related to prior “UBI” topic

http://captaincapitalism.blogspot.com/2019/07/do-humans-have-value-in-ai-world.html

We live already in a high IQ (code- High-tech) society.

Any low IQ populations, white or not, will fail.

This is not a maybe, if or but.

WILL fail.

It is inevitable.

Make investments of time and money based on that fact.

This is as much a natural law as gravity making stuff go down. The technical term is a dysgenic shift, as a tragedy of the commons impair the overall functioning of the organism, civilization.

Do not waste your time helping the low IQ, especially if they hate you, unless you’re related, and even then – it would make more logical sense to help yourself so you’re in a stronger position to help them later, when they actually really need it.

Let the idiots fail, they will regardless and pretending to care or help will just allow them to blame (or possibly sue) you. The Left’s now public unpopularity is largely due to compassion fatigue.

Only work to protect the culture and things the future ideally needs and wants. Don’t dawdle.

Their failure (check national IQs to check your expectations) will be chalked up to isms and ists and ‘bigots’ oppressing them (the same bigots who never invited them here, and they’re free to leave to greener pastures) when it’s the natural failure in a meritocracy (and no, quotas may stem the tide but make the water level bigger once the dam finally bursts).

Nobody is guaranteed success but this cult of equalism and equality of outcomes is weakening those already on the edge, the cusp of idiocy.  Do not let it weaken you nor the character of any you care for.

2 economic facts based on evolutionary biology;

You CANNOT replace humans like interchangeable cogs. [Globalization is wrong and doomed.]

You CAN, however, replace the low IQ with machines. [The Industrial Revolution says, hello?]

We can survive this, but we have to be clever. Expose missionaries/”activists” wherever you find them, the globalist outgroup-helping model might already have killed us. Christians have no obligation to help most of the (non-Christian, thereby anti-Christian/Satanic) world, including CHINOs. Christian rules for Christian folks. God also said not to engage in wrath, nor obstruct his Will and “helping” in many cases the historic enemy to embolden them against us (zero sum) might be considered wrathful treason.

Western success was, in fact, White IQ success, with higher IQs across the board in many nations than we have now (even among just whites, a lot of stupids are breeding because they’re irresponsible). This dilution effect, combined with increased pressure on infrastructure and demand for common goods i.e. housing, will reduce the standard of living without corrective measures (aka nothing less than MASS deportations) in short order, due to population density.

Population density is DEATH.

It is the death of r-selection.

Resources are always scarce, especially in the colder, more tribal climes of the West. Whites and our high trust genetics are simply kin on a smaller, more select level than overall race. That is likely amenable to change if Europe needs to rally together post-crop failure.

See the places of global pop density? Don’t fucking move there.

People will also hemorrhage out of those areas the more serious the situation looks. Of those residing in the West to plunder and pillage, they are unlikely to go all the way home so… that’ll be fun. Normalcy bias will make the low IQ think they can wait out the storm/s.

Encourage meritocracy, prepare for minor food shortages (remember – shipping would be the first thing to go with an economic slowdown) and do not engage in pathological altruism.

There is no downside to following this advice.

Ten years of food is ridiculous but 6 months? Do-able. A year, like the Mormons is the goal. Supplementing your food and saving money buying in bulk is better than nothing.

It takes the average human 3 weeks to starve, longer if infrequently fed.

I do not know, haven’t the foggiest what could kick this off, maybe lots of little, seemingly innocuous things – but nobody does. That’s why it’s a black swan – our current system of 150 years is crumbling and that’s never happened before. Stay safe. Look at population charts.

Could be 1 year, could be 3. All I know is I’m glad I don’t live in Asia, especially with all these weather events. California too. They have in common prostitution, greed, deceit and infanticide – do those incur God’s wrath?

If a population will not cull itself and limit reproduction in their homeland, Nature steps in. A lot of virulent disease is coming from Asia and it’s actually riskier for us than African ones due to population density and commonality of air travel (which most Africans can’t afford).

This has been Global(ist) Threat 101. Let globalization (and multiculturalism) go quietly into that good night. I’ll believe it’s over ten years later. Don’t be drawn into it or out by it – false positives of recovery are a classic historical way to draw out the prepared or savvy… to kill and rob them.

UK K-shift

I’ve never posted exact numbers, have I?

Let me show you your debt slavery.

https://www.ukpublicspending.co.uk/breakdown

70% extra taxes – the going rate for dysgenics. Oh, you’re paying for it.

45% top tax rate not including other stuff.

I include the calculations for the morons who’ll dispute maths.

70*0.45 = 31.5%

over a third of your time working is slaving away for people who don’t want to.

Like we do?

Sorry Susan, we’re not supporting your ability to watch Loose Women and bitch about your grandkids. Tough titties that you paid for wine and cruises over retirement savings. Guess you should’ve thought about that when you voted for Labour without waver the past half a century.

But wait, there’s more!

There’s a reason I’m so optimistic this country will literally run out of shekels before we can be replaced fully.

Millennial exhaustion!

Plan on a 50 year ‘career’?

50*.315

15.75 years working like a slave because Barry the Boomer won’t get off his arse.

That’s right.

I am this way because of statistics and facts.

I crunched the numbers one day and the results were in, literally Hitler.

Can you use a calculator? When did you decide to become a shitlord?

Go Galt and grow your own food, you won’t eat litres of pesticide per year and you’ll have saved more money than if you ‘worked’ and got taxed to pay for food that will also be taxed. While supporting the EU. Where the companies are taxed. However, if you can get the fruit of their labour on steep sale, dehydrators are worth the money plus free seeds.

https://tomclothier.hort.net/page05.html

Also great for making bar fruit.

Better food, less money, more free time. Problem?

Look at every expense necessary for life like this. Through the filters of time and tax.

Do not fund your own replacement.

Now you catch my drift, back to UK official stats.

https://www.ukpublicspending.co.uk/spending_chart_2010_4UKb_00t
Yes, this is sustainable waste.
https://www.ukpublicspending.co.uk/year_spending_2020UKbt_17bc1n_001040#ukgs302

Don’t look at the statistics.

https://www.ukpublicspending.co.uk/uk_national_debt_analysis
It’s immigrants, but blame the economy. For the economy.

“In 2005 the UK National Debt was less that £0.5 trillion.

But then came the worldwide financial crisis of 2008 and subsequent recession.

The National Debt increased rapidly and went over £1 trillion in 2011 and over £1.5 trillion in 2016. At the end of March 2019 the National Debt was £1.80 trillion.

Obviously, they can’t do that again.

+50% in five years? Under the Tories? Fucking really?

11 years of total immigration flood, tripled national debt. Complete coincidence.

(Net immigration means nothing).

Odious debt must be repudiated. Exit tax the immvaders. Good enough for CA.

In terms of Gross Domestic Product the UK National Debt in 2005 was about 38 percent of GDP.

But in the last ten years, in the wake of the Crash of 2008 and subsequent recession, the National has doubled to over 80 percent GDP, but is leveling out as a percent of GDP. At the end of March 2019 the National Debt was 84.6 percent of GDP.”

Thanks, Labour! Commies ruin economies.

And this is what they claim as debt, not the full sum.

As previously stated, we’re screwed.

https://disenchantedscholar.wordpress.com/2018/04/25/we-are-totally-fucked/

Plus, at around 90% GDP drops anyway (known economic effect) because the populace strangely isn’t as productive…….

Huh.

Turns out THIS is our socialist utopia.

War-time debt/GDP, what kinda war do you call this?

https://www.ukpublicspending.co.uk/rev/google_vis.php?title=Total%20Debt%20As%20Percent%20GDP&year=2006_2019&sname=&units=p&bar=1&stack=1&size=800_600&spending0=36.67_37.25_38.86_49.14_65.47_72.01_75.90_79.75_82.17_83.69_83.73_86.72_86.17_84.60&legend=Public%20Net%20Debt-total&source=a_a_a_a_a_a_a_a_a_a_a_a_a_a


Austerity is a hilarious myth.

It’s right fucking there.

And note: 2009 debt/GDP is still under 50%, don’t blame Muh Recession.

Pensions are welfare, at least a UBI wouldn’t be ageist. It isn’t a military pension, you don’t earn national funds by existing. Breathing for 60 solar rotations isn’t a qualification.

Young people can’t marry, move out, have kids, because lazy bastards didn’t want to work for the last 40 years of their life, preferring to abort their kids or make immigrants pay for them. We all literally know people who’ve been retired longer than they worked, fiscally impossible to justify.

One lazy generation who didn’t even fight a war for us is disabling the future existence of our people and culture.

When the Boomers pass, this shitshow will really get on the road.

Debt jubilee for national debt?

I mean actual national debt, not reported with exclusions.

https://www.silverdoctors.com/headlines/world-news/the-debt-jubilee-the-solution-for-governments-to-avoid-the-next-economic-disaster/

What else could they do?

PAY it?

Of course, the obvious way for billions of people to pay “their” debt to like, ten people, is to arrange about two gallows’ worth of payment.

That’s the other traditional route. Answering the age-old question: how long is a piece of rope?

A culture without honour doesn’t honour others’ debts.

Bank deposits caused by banks

https://washingtonsblog.com/2014/03/bank-england-admits-loans-come-first-deposits-follow.html

Money creation.

“Money” not value or productivity.

http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

Monopoly has fewer IOUs.

Broad money is a measure of the total amount of money held by households and companies in the economy. Broad money is made up of bank deposits — which are essentially IOUs from commercial banks to households and companies — and currency — mostly IOUs from the central bank. Of the two types of broad money, bank deposits make up the vast majority — 97% of the amount currently in circulation. And in the modern economy, those bank deposits are mostly created by commercial banks themselves.

***

Commercial banks create money, in the form of bank deposits, by making new loans.

https://disenchantedscholar.wordpress.com/2018/04/25/we-are-totally-fucked/

The immigrants and foreigners in Buy to Let have gotta be my favourite.

Yes, give the nice Yiddish man your shorts. They want to make you “easy money” at their expense.

This description of money creation contrasts with the notion that banks can only lend out pre-existing money, outlined in the previous section. Bank deposits are simply a record of how much the bank itself owes its customers. So they are a liability of the bank, not an asset that could be lent out. A related misconception is that banks can lend out their reserves. Reserves can only be lent between banks, since consumers do not have access to reserves accounts at the Bank of England.

The Muslims thinking they’ve robbed us will get a nasty shock.

Those weren’t smiling white people.

Nobody screws the Jew. N O B O D Y.