I think that's right - higher inflation / higher rates means you're trading a higher interest payment now for lower (real) payments in future I think. But of course people have time preference

What I mean is…
Take two scenarios, one with 0% inflation and 0% interest rate, one with 5% inflation and 5% interest rate.

An investor could plausibly be indifferent between those two scenarios. A household about to renew their mortgage absolutely could not!

Just to add:
- This is for the UK (present day borders)
- Both datasets are from the BoE Millennium of Macro dataset
- Working hours are notoriously difficult to measure through time, so you have to interpret with some caution

Gilets Jaunes, but in bike jackets

It is afaik the only fancy coffee shop in the Range Rover suburbs, which have money but few shared spaces. So I think this is very much a “local monopolist in high demand area” problem, but still…

A majority of people survived the Black Death, etc.

Yep - like a kind of AI arms race

This v good piece by @dsquareddigest.bsky.social (feat. @dlknowles.bsky.social) summarises this problem well

backofmind.substack.com/p/transparen...

“The threat of climate change will not be addressed until we come up with a cleaner replacement for the coal-fired power stations”

*We replace coal power stations with a clean replacement*

“No not like that”

Blimey - I was always struck by how he hasn’t updated his view as things have changed, but can’t believe it’s the same thing since at least 2012!

My suggestion of Sweet Corn-aline was sadly rejected

I would genuinely like to know what he’d actually do about climate change instead of what he wouldn’t do

Got a menu and everything

Pizzarova!
(Think others may do it?)

Haha - classic, might have to leave it in!

It is a bit depressing how often this topic comes up 😔