[cryptome] Pastebin Economics

  • From: "douglas rankine" <dmarc-noreply@xxxxxxxxxxxxx> (Redacted sender "douglasrankine" for DMARC)
  • To: Cryptome Mailing List <cryptome@xxxxxxxxxxxxx>
  • Date: Sat, 8 Jul 2017 00:35:24 +0100

see url: https://pastebin.com/thSBPz58

Interesting...so much for privacy, secrecy and democracy. Mix it with AI and algorithms.

Just to let you know, Dear Colleagues, and all those Nigerian "get rich quick" numbers game specialists..., I invest in the London Stock Exchange, and have done so for over 20 years. It is my hobby, I became interested when I became a union official, a shop steward, and, to find out more about the company, for whom I worked, I purchased £50 worth of its shares, so that I got access to their annual reports. I never looked back. The Managing Director was consternated when I went along to a meeting with him and told him how much money his company was making and how it took advantage of its tax breaks. I didn't last long, but long enough to cost him lotsadough....;-)

I was Treasurer of an Investment Club for about 10 years, inspired by the book, "The Beardstown Ladies Investment Club" a book, which I found out later, made more money on the sales of the book than they ever did investing! See url: https://en.wikipedia.org/wiki/Beardstown_Ladies

I, and my colleagues, found AI and black boxes and algorithms absolutely fascinating, particularly when the US Stock Exchange and the UK LSE moved over to allowing billions of transactions per day. Companies fight one another in paying the highest fees to get as close to the NYSE as they can so that they can shorten the time, and therefore gain an advantage over their competitors. Quantitative Easing, and its use as a tool for overcoming, or at least putting off a financial crisis for a while, smashed all of my previous Marxist views of the economy, my attitudes and opinions regarding economics. Did you know, for instance, that a small amount, of inflation, only one or two percent is considered as good for any economy? Why? Because over time, it reduces debt. What a gem of a principle to learn!...:-)

I used to consider myself as a Marxist, I studied economics closely, I believed in it, tried to put it into action; but then, like Jesus Christ and those who followed him, and who considered themselves as Christians, I realised that most of it was total bunkum. What is most important, in the economic field, as in many others, is, what works. Pragmatism is key. Interest rates, savings, accumulation of capital via the pension funds, inflation as a tool of capitalism to extend its survival? Quantitative Easing, who gains and who loses? Who cares? Making money is what is important, fuck the world, fuck the environment, fuck the poor, fuck the old age pensioner, and fuck the starving.

Just a few thoughts on our present economic dilemma.



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  • » [cryptome] Pastebin Economics - douglas rankine