Sat Oct 05, 2019 1:31 pm
JereFuzz wrote:TraceItalian wrote:JereFuzz wrote:Wrapping up "Between Debt and the Devil" by Adair Turner. It was published in 2016 and is another "crash of 2008 and its consequences" book. Nevertheless, it's a good one and it argues that credit expansion was good when it was used for capital investments that had a rate of return greater than the cost of interest and added significant efficiencies to an economy. But the financial/credit system expanded rapidly and now credit is used primarily for non-productive consumer spending (housing/toys/etc.). After the 2008 collapse, the economy is now hung over with debt overhang. Lowering consumer spending to pay down debt leaves a "hole" in the economy. This is filled with government spending. Hence, private (mortgage) debt that sunk the economy in 2008 has been transferred to the public sector. What's not clear is what to do next. The debt/GDP ratio was 62% in 2007. Today it is 108%. Consumer debt/GDP fell in the years following the 2008 collapse but it is now going up again. Anyway, interesting stuff.
I just got doene with it last night, but have you read Capitalist Realism? It kinda dovetails that. Plus, his mentor is batshit insane, so thats fun
Well, Capitalist Realism looks very interesting after reading about the author. I am familiar with zero books and have a bunch of them on my “to read” list. So I assume you are referring to Zizek as the mentor. He’s entertaining but I haven’t delved into his works. I see CR is at my local B&N ... i’ll pick it up.
Sat Oct 05, 2019 6:58 pm
Sun Oct 06, 2019 5:33 am
Sun Oct 06, 2019 7:14 pm
Mon Oct 07, 2019 7:33 am
Mon Oct 07, 2019 1:10 pm
weebles wrote:Also just zoomed through both of the Kingkiller Chronicles books. Interesting story, interesting world, but falls into that trope of an all-powerful lead character whose only flaw is his arrogance/being a dumbass. Kind of like the Stormlight Archive in that sense.
Mon Oct 07, 2019 3:03 pm
Tue Oct 08, 2019 12:11 pm
TraceItalian wrote: (what's the male equivalent?)
Tue Oct 08, 2019 5:41 pm
coldbrightsunlight wrote:Started The Last Days of New Paris yesterday.
I'm enjoying it a lot, very imaginative and evocative writing so far.
Tue Oct 08, 2019 6:37 pm
Wed Oct 09, 2019 9:41 pm
TraceItalian wrote:weebles wrote:Also just zoomed through both of the Kingkiller Chronicles books. Interesting story, interesting world, but falls into that trope of an all-powerful lead character whose only flaw is his arrogance/being a dumbass. Kind of like the Stormlight Archive in that sense.
I liked the first book alright, but the second one seemed too Mary Sue (what's the male equivalent?) in certain parts and just got a bit weird to me. I ended up hopping over to The Heroes by Joe Abercrombie if you've not checked that out, and that was a cool book. Very surface level and silly, but well written and a very enjoyable read.
Thu Oct 10, 2019 10:41 am
Fri Oct 11, 2019 12:20 am
dubkitty wrote:haven't been reading shit lately other than Twitter and the You Must Get Them All blog which is sequentially reviewing the Fall discography, but i ordered Homage to Catalonia and The Society of the Spectacle for reading while i'm on vacation. at this point i can't really get into anything that lacks timely socio-political content.
Sat Oct 12, 2019 11:29 am
Fri Nov 01, 2019 9:17 pm
TraceItalian wrote:JereFuzz wrote:TraceItalian wrote:JereFuzz wrote:Wrapping up "Between Debt and the Devil" by Adair Turner. It was published in 2016 and is another "crash of 2008 and its consequences" book. Nevertheless, it's a good one and it argues that credit expansion was good when it was used for capital investments that had a rate of return greater than the cost of interest and added significant efficiencies to an economy. But the financial/credit system expanded rapidly and now credit is used primarily for non-productive consumer spending (housing/toys/etc.). After the 2008 collapse, the economy is now hung over with debt overhang. Lowering consumer spending to pay down debt leaves a "hole" in the economy. This is filled with government spending. Hence, private (mortgage) debt that sunk the economy in 2008 has been transferred to the public sector. What's not clear is what to do next. The debt/GDP ratio was 62% in 2007. Today it is 108%. Consumer debt/GDP fell in the years following the 2008 collapse but it is now going up again. Anyway, interesting stuff.
I just got doene with it last night, but have you read Capitalist Realism? It kinda dovetails that. Plus, his mentor is batshit insane, so thats fun
Well, Capitalist Realism looks very interesting after reading about the author. I am familiar with zero books and have a bunch of them on my “to read” list. So I assume you are referring to Zizek as the mentor. He’s entertaining but I haven’t delved into his works. I see CR is at my local B&N ... i’ll pick it up.
Nah, I mean the gibbering moonbat Nick Land, who has such a hard on for capitalism that he believes that it will only be perfect by becoming a Lovecraftian entity that destroys humanity