Lecture 101
1. Gross, Domestic Product
a. GDP = V x M1
b. 25.74t = 1.29 x 19.82 x 1012 (t)
c. Velocity was 15 as recently as 2008 before housing crisis
2. Sectorial Balances
a. S + (Imp - Exp) = I + (Gov Spend – Rev)
b. S = consumer or demand side wealth
c. I = Foreign and domestic supply side excess profit
3. Capital Divergence / Global Trade
a. Decreases Demand Side Wealth (Middle Class)
b. Decreases economic Volume (productivity)
c. Increases Supply Side Investments & Oligarchs
d. Increases Government Spending
4. Elasticity of Demand
a. Calculates sales volume / price change
b. Critical Margin
c. Company w/ narrow margin raises price.
5. Inflation
a. Government spending
b. Credit easing
c. Low interest rates
d. Restricting fossil fuel production
e. COVID lockdown, pent up demand
f. Inherent instability of inflation
6. FED Failure
a. Phillips Curve, supply & demand
b. Reluctant return to Work, 2/3 stay home
c. Depressed private sector. Thriving supply side
i. Contradiction, pent up and depressed
ii. Non-discretionary vs discretionary
iii. Decreased sales, increased prices
7. Productivity, Velocity, Tighten M1
a. Small increase in Velocity = > GDP
b. Decrease government spending
c. Ways to increase activity
8. Staged Layoffs of non-productive
a. Unemployment in measured weekly number
b. Thus, the Phillips Curve for dis-inflation
c. Productivity from previously non- productive
9. Gold Standard (Conjecture)
a. What might happen? $1,000 = 1 oz gold
b. Might the government declare a J’oublie to discharge debt ?
The Devil promises a utopia of worry-free egalitarianism beckoning you to an Orwellian hell of despondency. Its a matter of giving or taking. Work for your family and community supporting the common good, or take from the wealth of those who produce and promise benefits to those who do not and those destroyed by the theft of their own creation.
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