Wealth Economics
@steveroth.bsky.social
Entrepreneur, progressive sometime 1%er. (Tax me more.) Addictive reader: trash to tomes. National-accounting & econ geek. Evolution and Shakespeare dweeb. Besotted father. From MO; show me the #s. https://wealtheconomics.substack.com/about
No, its obviously the fault of all those frugal chinese, "saving." Just ask Bernanke.
November 26, 2025 at 3:36 PM
No, its obviously the fault of all those frugal chinese, "saving." Just ask Bernanke.
:slaphead emoji: If you receive $s from another acct & hold them (“save”), zero increase in total deposits. If you xfer them to another account instead, like to buy something, ditto.
November 25, 2025 at 8:14 PM
:slaphead emoji: If you receive $s from another acct & hold them (“save”), zero increase in total deposits. If you xfer them to another account instead, like to buy something, ditto.
Why deposit banks and lending banks should be totally separate.
Banks hold ppl's deposits FBO: "for benefit of" the depositors. They're trustees, administrators, service providers.
But they can *lend* those deposits w/o sharing the interest payments with the actual owners of those deposits?
Banks hold ppl's deposits FBO: "for benefit of" the depositors. They're trustees, administrators, service providers.
But they can *lend* those deposits w/o sharing the interest payments with the actual owners of those deposits?
November 25, 2025 at 6:31 PM
Why deposit banks and lending banks should be totally separate.
Banks hold ppl's deposits FBO: "for benefit of" the depositors. They're trustees, administrators, service providers.
But they can *lend* those deposits w/o sharing the interest payments with the actual owners of those deposits?
Banks hold ppl's deposits FBO: "for benefit of" the depositors. They're trustees, administrators, service providers.
But they can *lend* those deposits w/o sharing the interest payments with the actual owners of those deposits?
Has anybody published a tally of how many big left vs right X accounts are not US-based?
November 24, 2025 at 5:35 PM
Has anybody published a tally of how many big left vs right X accounts are not US-based?
Yeah I (like Piketty) think of Jane Austen novels w/ their middle-class ppl in their comfortable parlors. Have some capital in gilts @ 3%, they're okay.
But there's that constant terror lurking, if they fall out of that propertied class somehow into the pit below, they'll never come back...
But there's that constant terror lurking, if they fall out of that propertied class somehow into the pit below, they'll never come back...
November 24, 2025 at 4:40 PM
Yeah I (like Piketty) think of Jane Austen novels w/ their middle-class ppl in their comfortable parlors. Have some capital in gilts @ 3%, they're okay.
But there's that constant terror lurking, if they fall out of that propertied class somehow into the pit below, they'll never come back...
But there's that constant terror lurking, if they fall out of that propertied class somehow into the pit below, they'll never come back...
You might think about it differently if you knew this... mpra.ub.uni-muenchen.de/113564/
November 24, 2025 at 3:53 PM
You might think about it differently if you knew this... mpra.ub.uni-muenchen.de/113564/
Right. Even though, by the NIPA saving measure, the bottom four quintiles have been spending more than their income for a ~quarter-century.
Enquiring minds... mpra.ub.uni-muenchen.de/113564/
Enquiring minds... mpra.ub.uni-muenchen.de/113564/
Spending by Bottom-80% U.S. Households Is Persistently Greater than Income. What Funds the Deficit? Munich Personal RePEc Archive
mpra.ub.uni-muenchen.de
November 24, 2025 at 3:44 PM
Right. Even though, by the NIPA saving measure, the bottom four quintiles have been spending more than their income for a ~quarter-century.
Enquiring minds... mpra.ub.uni-muenchen.de/113564/
Enquiring minds... mpra.ub.uni-muenchen.de/113564/
Oops sorry, correct link: mpra.ub.uni-muenchen.de/113564/
Spending by Bottom-80% U.S. Households Is Persistently Greater than Income. What Funds the Deficit? Munich Personal RePEc Archive
mpra.ub.uni-muenchen.de
November 24, 2025 at 3:31 PM
Oops sorry, correct link: mpra.ub.uni-muenchen.de/113564/
November 24, 2025 at 3:24 PM
Has somebody tallied these up in a table? Source? Thanks.
November 24, 2025 at 2:13 AM
Has somebody tallied these up in a table? Source? Thanks.
👍👍👍 Limited series in general are the best because they're novel-length. And, the writers know where the beginning, middle, and end are. But this one's especially good.
November 23, 2025 at 8:58 PM
👍👍👍 Limited series in general are the best because they're novel-length. And, the writers know where the beginning, middle, and end are. But this one's especially good.
No luck here thru my Univ of WA lib acct which gives access to almost everything...
November 23, 2025 at 5:33 PM
No luck here thru my Univ of WA lib acct which gives access to almost everything...
Assume 38K more native-born, working-age Americans each month*, and an equal # of new jobs.
That's def low, near-zero employment growth. And equivalent spending a.k.a. GDP growth?
* Average of the steady, solid, pre-covid & esp pre-2025 population data series — 2008 through 2019.
That's def low, near-zero employment growth. And equivalent spending a.k.a. GDP growth?
* Average of the steady, solid, pre-covid & esp pre-2025 population data series — 2008 through 2019.
November 23, 2025 at 4:48 PM
Assume 38K more native-born, working-age Americans each month*, and an equal # of new jobs.
That's def low, near-zero employment growth. And equivalent spending a.k.a. GDP growth?
* Average of the steady, solid, pre-covid & esp pre-2025 population data series — 2008 through 2019.
That's def low, near-zero employment growth. And equivalent spending a.k.a. GDP growth?
* Average of the steady, solid, pre-covid & esp pre-2025 population data series — 2008 through 2019.
Any change if you start feeding her at four every day?
November 22, 2025 at 10:49 PM
Any change if you start feeding her at four every day?
👍👍👍 Why d'ya think, when ("free-market" Republican) congresscritters set up private-sector MA, they made it so hard for people to switch back to traditional Medicare?
Cuz healthy ppl will buy $0-premium MA then get sick and find out they're effed, and want to jump to real, traditional MC insurance.
Cuz healthy ppl will buy $0-premium MA then get sick and find out they're effed, and want to jump to real, traditional MC insurance.
November 22, 2025 at 4:26 PM
👍👍👍 Why d'ya think, when ("free-market" Republican) congresscritters set up private-sector MA, they made it so hard for people to switch back to traditional Medicare?
Cuz healthy ppl will buy $0-premium MA then get sick and find out they're effed, and want to jump to real, traditional MC insurance.
Cuz healthy ppl will buy $0-premium MA then get sick and find out they're effed, and want to jump to real, traditional MC insurance.