Clem Fon

"The AI infrastructure build-out is so gigantic that in the past 6 months, it contributed more to the growth of the U.S. economy than /all of consumer spending/" - @mims.bsky.social

My takeway is that The US has gone ALL IN BET OF THE 21st Century on AI, while China has gone all in on green tech

Beyond interbanking settlement technological improvement, cbdc is, at best, a weird PR strategy and, at worst, an absurde oxymoron

Children of Ruin - Wikipedia

I have a decade old belief that when octopuses will learn to socialize and, subsequently, live longer and create societies, they will be ripe to succeed us after self extinction. And this is also the plot of the great scifi novel I'm reading now en.wikipedia.org/wiki/Childre...

Now we need this with l équipe newspaper for even more vintage style

Yes. Eric monnet on the history of french monetary "circuit"

Say what you want about shadow banking, Big4 & all other financial capitalism institutions, this is a an another level of crookedness

That's around a swimming pool per year per investor for their brillance in finding an original concept & an original name, that's well deserved, the reward is worth the risk

"Les cordonniers sont souvent les plus mal chaussés". Academic publishers & professional associations are often black holes vis à vis political and economic governance. Discrepancy btw ivts & shareholders fees are often gigantic. But this! If I was volunteering for any EPSA stuff, I'd be furious

@jvtk.bsky.social on why price controls & proper anti-trust competition policy would fare much better than monetary policy to keep prices low

Also, how do you say you are surprised (& maybe sad) that you didnt have to raise unemployement & suppress labor power to control inflation in central bankery? You say "We would have been prepared to accept more economic pain [to battle inflation] but luckily we didn’t have to,”

ECB beat inflation without heavy economic costs, says departing hawk Veteran Dutch policymaker says central bank would have taken ‘more pain’ to tackle post-pandemic price rises if it had to

Under their current design, central banks mainly keep prices stable by raising interest rates, lowering workers' bargaining power, suppressing wages' growth & crushing demand. If they beat inflation without damage it means that they don't have much impact www.ft.com/content/3f9e...

That's a good question. My instinct would be that as long as u can buy anything that could be included in your average/regular consumer basket (ie HICP) you're money. Limitations would almost exist only if bc law systems do not overlap perfectly with payment systems

Yes they can, but isn't the singleness test only meaningful in times of stress, when these conditions are not necessarly met? ie you are money only if you keep your vallue more or less at par with your most stable safe asset when everyone freaks out?

Ben ouais, faut pas louper le train de l'IA, le retard technologique de l’Europe et tout ca, on va pas commencer à écouter les wokistes de la BCE qui veulent sauver le climat.

Are stablecoins money? And are parallels to the era of Free Banking any good?

BIMBAMBOUM "The BIS thinks stablecoins fail the test of singleness. If you’re a crypto bro living in your mom’s basement, failing the test of singleness may be the dream. Among central bankers, it’s the stuff of nightmares." www.ft.com/content/f462...

Ok, this is a much better tradition than weird dresses and hats. But, I'm wodneringabout the symbolic dimension of PhD supervisors painfully towing their (former) Phd student. Role inversion or metaphor of the past years? 😜

Sans trop de surprises, plus on est vieux et plus on est de droite, plus on est intolérant.

Nouvelle actualisation d'indice super importante, notamment face à l'ultra focalisation intellectuelle et médiatique sur la montée des valeurs d’extrême droite chez "certains" (hommes) jeunes

Fridges' techonologcal innovation seems a constant proxy for financial bubbles. I use the case of internet connected fridges to explain the dynamics of bandwagon jumping, typical of financial manias.

billbennett.co.nz/internet-fri...

Behold, here is the IA connected fridge.

How hard is it to find a date when you vote radical right? Stuart Turnbull-Dugarte and Alberto López Ortega explore what our dating choices reveal about democracy. While liberal circles assume radical-right supporters are socially shunned, experimental eviden...

When voting or when dating, conservatives tend to be more lenient and aligned with more far right wing figures than center left ones, threatening the sanitary cordon on which our liberal democracies rely for their survival theloop.ecpr.eu/how-hard-is-...

But, but, the channels of transmission of monetary policy, rational expectations and propensity to save, nichts davon, gar nichts? 😰😰😰😰😰😰

South Korea gender divide update 😲

Young men lean right by 50 points
(74% conservative vs 24% centre-left)

Young women lean left by 22 points
(58% centre-left vs 36% cons)

Nous recrutons à Bruxelles 🇧🇪

@contexte.com recherche un(e) journaliste pour couvrir les sujets environnementaux. Votre mission quotidienne sera de vous plonger dans la machine européenne pour décrypter comment les institutions européennes légifèrent dans le domaine, comment elles sont influencées ⬇️

Auhtors found a very high sensibility between answers and the number of questions/prep work asked to respondants. In other words, what determine most answers to the suvey was how respondants were surveyed. IMO, this kind of bias is a killer for policy-related use of such surveys

Finally, my main source of skepticism is related to what happens within the black boxes of polls/survey. My fav article about that is actually an ECB working paper www.ecb.europa.eu/pub/pdf/scpw... .

I have more pbtic examples of usung surveys/mini public for such niche specialised topics than good ones in my head but maybe it's my own perception bias

I'm also thinking about a study design where two public opinions play a prisonner game, operationalised with polls asking regular citizens how would they act towards a given coutnry when there is a 200pts spread between sovies interest rates.

yes, you are right, if it's about citizens trust for example, low information is not an issue. Now, I'm thinking about some studies claiming that cbs would engage (or not) in some policy directions depending on public opnion alignement (Q example: do you think it's a good idea that cb go green)

I see more & more pol eco research using representative mini publics/polls to operationalise their research on public opinion and central banking. Now, look at the answers to these questions-testing knowledge and tell me whether any poll on cbs would mean anything given very limited knwoledge?

Conversly, could the € become the new international currency only by emitting more € denominated safe debt? Without military coercion and being a top currency used in the tax heaven laundry machine? Is there a trade-off between monetary ethics and becoming an international currency?

Could $ become the XXth currency without forcing regime changes and dollarization in South America? Without being the currency for recycling petroroubles in City's tax heavens?