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November 27, 2024

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rsm

《Can central banks read the future of inflation and output and thus stabilize inflation?》

Why not simply adapt to nominal inflation through indexation of income and savings, thus preserving real purchasing power no matter what nominal prices do?

Would inflation adaption contradict the control instinct which underlies current mainstream economic models? .

Laban

I'm sure it'll be really easy to detect coercion post-mortem ;-)

For many people there's a real tension between the value of a parent's property - wildly inflated over the last 30 years - and the very hefty cost of care home fees, which can swallow an inheritance at 70k+ a year.

Combine that with the increasing number of children who don't like their parents very much (see Guardian problem page comments for details) and you have a recipe for trouble.

Blissex

«are there sufficient safeguards against people being influenced into taking their own lives?»

The "libertarian" theory of "consent", abortion and of euthanasia is simply that of "freedom of contract" where in a free and competitive market individual market participants must have the freedom of entering into any contracts regarding their property which includes their bodies, so for example freedom of contracting about organ removal of body termination or sexual use.

My impression looking at those who support the "libertarian" theory of "freedom of contract" extending to the body is that it is meant as a subtle way to reintroduce "freedom of contract" where bodies or more technically "obligations of service and obedience", can again be used as collateral for debt, as it could for most of history.

Blissex

«tension between the value of a parent's property - wildly inflated over the last 30 years - and the very hefty cost of care home fees, which can swallow an inheritance [...] and you have a recipe for trouble.»

Euthanasia has become more salient because it has become the new frontier as to "freedom of contract" ideology after "consent", gay marriage, abortion, transitioning, but I suspect also for another reason.

Every time an affluent tory property owner passes on some new tory voters are created among the heirs: typically the property is sold and the heirs use their share of the estate for the deposit on another property each, because they have long learned that only property, and as much property as possible, is worth investing into.

Boris Johnson: «I think the vast majority will want to put their pots into the market with the greatest yield over the past 40 years – and that is property»

Chief Economist of the BoE: «Haldane believes that property is a better bet for retirement planning than a pension. “It ought to be pension but it’s almost certainly property,” he said. “As long as we continue not to build anything like as many houses in this country as we need to ... we will see what we’ve had for the better part of a generation, which is house prices relentlessly heading north.”»

Laban

Blissex - we build vast numbers of houses, we just import people at a faster rate than we build. Boris and Rishi - nearly a million a year before you count illegals.

rsm

Blissex, if my father purchased a house in 1980 for $100k and it is worth $2.1 million today, would he have been better of investing the $100k in an S&P 500 index, which (according to your favorite online S&P 500 total return calculator) would have turned into $5.2 million today (or $15.8 million with dividends reinvested)?

Blissex

«we build vast numbers of houses, we just import people at a faster rate than we build»

Consider how much prosperity that has brought: lower labor cost inflation and higher property incomes for many english citizens and higher wages and better housing for many immigrants. It is a win-win ;-).

«a house in 1980 for $100k and it is worth $2.1 million today, would he have been better of investing the $100k in an S&P 500 index, which (according to your favorite online S&P 500 total return calculator) would have turned into $5.2 million today (or $15.8 million with dividends reinvested)?»

I guess that works by disregarding taxes, rents and survivor bias in the S&P 500 and the comparison with the UK share index...

https://www.ons.gov.uk/visualisations/nesscontent/dvc241/FTSE_Chart1/FTSE_Chart1.html

But the better insight is that when it comes to inflating asset prices the Fed can do more for the S&P than the BoE can do for UK property, even if both try very hard to achieve the "wealth effect" as it is non-inflationary :-).

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