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JAQUE ALERA
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Posted - 2008.09.20 18:24:00 -
[1]
I have thoroughly enjoyed the past 11 months of playing this game. Due to world events beyond my control it is time to focus on RL.
I am offering this character to the person who watches this link and offers the most interesting/intelligent commentary on what they learned. I will also pay the transfer fee.
Understanding economics
Jaque(16 million sp) has a security status of 5.0.
Faction standing over 8.0 with Gallante and Minmatar.
Under 5.0 with the other 2 factions.
Wallet is positive 200 million.
Over 2 billion in ships, modules and other assets.
Account is paid through March 8, 2009.
Fully specced in exploration and drones.
Gallante frigate 5 and cruiser 5. Love my 2 Ishtars.
Tech II/faction fitted on all my ships. Ishtars, Helios(sisters launcher), Dominix(2), Myrm, various other tech 1 ships.
Your comments have to illustrate a clear understanding of ALL the material presented in this 3 hour long presentation. The winner will be picked on Sunday, Sept 28th.
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JAQUE ALERA
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Posted - 2008.09.20 18:24:00 -
[2]
I have thoroughly enjoyed the past 11 months of playing this game. Due to world events beyond my control it is time to focus on RL.
I am offering this character to the person who watches this link and offers the most interesting/intelligent commentary on what they learned. I will also pay the transfer fee.
Understanding economics
Jaque(16 million sp) has a security status of 5.0.
Faction standing over 8.0 with Gallante and Minmatar.
Under 5.0 with the other 2 factions.
Wallet is positive 200 million.
Over 2 billion in ships, modules and other assets.
Account is paid through March 8, 2009.
Fully specced in exploration and drones.
Gallante frigate 5 and cruiser 5. Love my 2 Ishtars.
Tech II/faction fitted on all my ships. Ishtars, Helios(sisters launcher), Dominix(2), Myrm, various other tech 1 ships.
Your comments have to illustrate a clear understanding of ALL the material presented in this 3 hour long presentation. The winner will be picked on Sunday, Sept 28th.
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Death4free
Caldari
ADAMA Corps
Intrepid Crossing
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Posted - 2008.09.20 18:25:00 -
[3]
sucks that you cant pass on account payments :(
Eve information kiosk
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Death4free
Caldari
ADAMA Corps
Intrepid Crossing
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Posted - 2008.09.20 18:25:00 -
[4]
sucks that you cant pass on account payments :(
Eve information kiosk
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Shigsy
Heretic Militia
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Posted - 2008.09.20 18:34:00 -
[5]
I learned that economics is boring as ****
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Shigsy
Heretic Militia
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Posted - 2008.09.20 18:34:00 -
[6]
I learned that economics is boring as ****
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Taua Roqa
Minmatar
Groping Hand Social Club
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Posted - 2008.09.20 18:41:00 -
[7]
i learnt that this is no time to be playing computer games ;oP
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Mutabae
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Posted - 2008.09.20 18:45:00 -
[8]
God, someone listen to the lecture just so we can have one less tinfoil hatted player posting... please?
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Cmdr Sy
Appetite 4 Destruction
The Firm.
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Posted - 2008.09.20 18:58:00 -
[9]
It's only tinfoil until you lose your job. 
Shame to see anyone go in these circumstances, I have seen some good people come and go over the years due to changing financial priorities.
EVE CCG Trinity Booster |
emepror
Gallente
X.E.N.O.
THORN Alliance
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Posted - 2008.09.20 19:16:00 -
[10]
basically it seems to give a history of america's economy and how the current problems are happening and it also explains the "3 e's" which from this are basically
-economy
- demographics (ageing pop)
- national failure to save (pretty much current US economy state)
- exponential money (growing and growing amounts of money along with its uses)
- bursting credit bubble
-energy
-peak oil ( gona run out eventually)
-enviornment
-climate change ( our global presence on the world)
-food production (from what i heard in one part could mean a lower standard of living)
Nothing in Eve is guaranteed, aside from the fact that you will die. |
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SirSpectre
Gallente
Dark Sky Industries
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Posted - 2008.09.20 20:23:00 -
[11]
Pretty sure giving away an account is against the EULA. Could pay $20 and transfer the character though.
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Sig here. ---> X |
MotherMoon
Huang Yinglong
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Posted - 2008.09.20 20:32:00 -
[12]
wait you ENJOYED playing eve?
then what will you do in 3 years when you want to come back?
don't give away your account... :( Maybe like give away some isk or something.
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Benco97
Gallente
The Star League
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Posted - 2008.09.20 20:41:00 -
[13]
Don't give anything away, none of us deserve it.
Eventually you may want to come back if things get better so just leave eve and hope for the best.
 Originally by: P'uck
You're a DUMBASS - bold italic underline at the VERY LEAST.
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Saint Lazarus
Spiorad ag fanaiocht
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Posted - 2008.09.20 21:17:00 -
[14]
You just want to make someone watch 3 hours of pure shit dont you?
either that or just a test of how far will people go to get free stuff
-----------------
My EvE Comic
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Akita T
Caldari Navy Volunteer Task Force
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Posted - 2008.09.20 21:34:00 -
[15]
Edited by: Akita T on 20/09/2008 21:43:02
Originally by: JAQUE ALERA
I will also pay the transfer fee.
[...]
Account is paid through March 8, 2009.
You do know that the transfer fee is for character transfer, not account transfer, don't you ?
The only person that can benefit (in a non-EULA-breaking way) from the 5+ remaining pre-paid months is you and only you.
Of course, you could grow the character 5 months and transfer it at 21-ish mil SP to somebody at the end of February 2009.
__
P.S. I sped through the intro and first two chapters... he's not saying (yet) anything I wasn't already saying for years too
Well, at least I'm intrigued by his claims that we COULD do something about it... to me, it seems unavoidable for the sole reason that people seldom act against their own personal (or close family) best short-term interest... a "tragedy of the commons" if you will, but on a global scale.
So... I might actually watch this and point out exactly where he's wrong (not as a concept, but as a "thing he says we must/can do".
_
SHOPS || Mission rewards revamp || better nanofix
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EnslaverOfMinmatar
Yarsk Hunters
DeaDSpace Coalition
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Posted - 2008.09.21 00:10:00 -
[16]
sell your junk/char and send the isk to me.
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dr doooo
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Posted - 2008.09.21 00:18:00 -
[17]
You can lead a horse to water etc above. I've watched as far as chapter 12 so far. Nearly gave up after the first 3 or 4 chapters, the guy was coming across as a bit of a dunce (or assuming his audience was) , but it definitely gets more interesting.
Obviously the old doom sayers go back as far as Malthus and beyond, and I remember learning at school over 20 years ago about the inevitable eventual downfall of the current economic system due to the reasons he outlines. I'd forgotten about it to be honest, but he does put a pretty good case so far as to a future time scale.
I'll definitely make the time to watch the rest tomorrow, and probably make the time to move my $ inheritance out of USA on monday (lol) .. although I should have done that last week ... 10 years ago now that I think about it.
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Eternal Error
Exitus Acta Probant
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Posted - 2008.09.21 01:36:00 -
[18]
You're going to have to somehow prove to me that you don't just want to make a bunch of people watch a three hour video.
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Akita T
Caldari Navy Volunteer Task Force
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Posted - 2008.09.21 01:43:00 -
[19]
While I did bother watching the rest too, I can safely say that I could have just skipped to chapter 19 and not missed much (other than actual numbers, the concepts behind were absolutely nothing new nor revolutionary, and they're explained as if it's middle school teaching material).
And the kicker : the one and only thing I WAS interested in, that is, his claims that you could actually do anything about it... well, they're not there YET... "chapter 20 : coming Soon™... heh".
_
SHOPS || Mission rewards revamp || better nanofix
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Norwest
Prima Civitas
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Posted - 2008.09.21 03:15:00 -
[20]
Watched through from chapter's 1 through 19. Very clearly lays out a lot of economic principles fairly well, though it is clearly targeted at people who haven't touched/looked at the subject in depth nor at all, before.
Concepts he explains include the basics of compound interest, linking of surplus to growth vs. prosperity (and that growth != prosperity). He explains the current monetary system quite well, and goes on to outline the relation between debt and inflation. The definitions of assets, liabilities and their relation to debt is addressed later on as well.
Once the ground work for these concepts is laid down, he runs through a brief history of the US economy (quite neat to note the current fiat currency system is less then 40 years old), and outlines the current debt situation.
The last portion of the information involves simplified and understandable definitions of a market bubble, peak oil and peaks in other commodities, and a brief outline on energy budgeting - and through that into the diminishing returns due to the later half of the 'peaks'.
All in all it was a fairly interesting session, and personally, cleared up a couple points of the US economy I was fuzzy on. Speaking as a Canadian, it defiantly worthwhile information to have about our largest trading partner. I found the most interesting section was concerned the statistics tweaking, while the most helpful one concerned the layout and definition of 'bubbles' and 'peak commodities' - terms you hear tossed around in the media all the time, but rarely defined well (or at all).
Throughout, the author expound a fairly pessimistic view of the economy in it's current form. Personally, I agree with him (as I did before I viewed the session). The continued trend of massive debt vs. the current rise of actual income is unstable, and I believe something will unbalance the system, and that something is bound to change - of course, the question is when and how, and we have no way to know the answer to that - especially looking at the current political climate and willingness of most people to put their heads in the sand to this sort of thing.
The author also broadly hinted at the 'things you can do' to save yourself/investment, and the hints dropped appear to involve such things as gold. The final section that is supposed to explain all the 'things you can do' is not posted on the site. That particular section is undoubtedly the most controversial portion of the whole presentation, and is where any of the author's critics would tear into him, probably ignoring the rest of the session, which to all appearances is accurate.
The lack of the last chapter shows very good marketing savy on his part, and has probably brought in fair number of people to his live, full (and pay-at-the-entrance) seminars.
*****
Rule 27: 'Don't be afraid to be the first to resort to violence.'
-The Seven Habits of Highly Effective Pirates [schlockmercenary.com] |
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Conwright
Carebear Killers Inc.
Anarchy.
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Posted - 2008.09.21 03:42:00 -
[21]
Il pretend I watched the link: It's all Gordan Browns fault. Can I have your stuff now? And does this mean we won't have to put up with your stupid nonsense posts about life and shit?
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Irulan S'Dijana
Amarr
Imperial Academy
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Posted - 2008.09.21 05:30:00 -
[22]
Chapter 1
I would agree that change is upon us, but not "economic change" per say. Where the Great Depression caused the birth of Macroeconomics I'd say this time round it's a change in the Financial systems. I think most of the problem of how we got here is that Wall St and other financial institutions expect constantly high returns otherwise the hot money would simply be invested elsewhere. e.g. a "hold" recommendation is almost a polite way of saying "sell". Combined with the importance of the stock price on executive remuneration we can see the managerial horizon of executives has been reduced from "long term growth" to "the next financial report". This naturally causes sub-optimal investment/management practices, leading to our current s**t-cake. What the next step in financial evolution is, I have no idea, but I'm willing to bet it's a change in executive remuneration policies.
Chapter 2
Umm..summation of 3 main ideas. Although the "economy" one is more US-based rather then global. E.g. China has a historical average savings rate of 60%, so obviously there's no debt problem. Interestingly ICBC is now the world's largest bank by assets, simply because all the US IBs have lost so much value . I think from memory ICBC's investment into mortgage back securities accounted for 2% or so of their assets.
Chapter 3
Umm...explanation of compounding. Not sure what anybody can comment as long as they've done high-school math.
Chapter 4
Ok..I can't do any sort of intelligent commentary. I have a finance background, so anything to do with compound interest is blatantly obvious to me. This reminds me of the puzzle ôa lily doubles in area every minute. It takes 10 min to fill up a 100m squared pond. How long does it take to fill up half the pond Answer: 9 minutes. It relies basically explains who the human mind is not naturally used to thinking in terms of exponentials.
Chapter 5
His implied assumption is that growth will not equal additions in efficiency naturally, but this is not true. Because people are greedy (more is better) and resources are limited, then new objects which do things the old objects do, but more efficiently, will be encouraged. e.g. growth of hybrid cars as a result of increased oil prices. As the costs to a country from coal power increases (e.g. medical, insurance etc) the growth of alternative sources of energy will also grow (e.g nuclear). Therefore his implication that unless we change drastically we're all screwed is a little alarmist. It's true we might not be doing enough or fast enough, but we are definitely not stagnant. Show me the profit and I'll show you the solution.
I also wonder how he defines prosperity. The very act of my spending my excess of prosperity means I'm engaging in economic activity which as a good chance of leading to growth for somebody else. e.g. Everybody in the country gets a 10% pay rise, so we all by more cake, so now the cake industry expands to meet demand → growth.
Chapter 6
Pretty much economics 101, ôwhat is moneyö, also not a new idea. During WW2 Germany was showered with currency to disrupt the economy. The locals simply reverted to using chocolate or cigarettes as currency.
Ok, I'm getting the impression this is is kinda alarmist. For well functioning economies the effect of inflation is minimal. 3-4% a year will not kill me. If I wanted to negate the effect of inflation I'd simply invest it into T-bills which historically pays out a real return of 0.5% to 1%. The T-bill is considered risk free since the government can simply print more money to pay it off if it needs. But because an increase in interest rates decreases economic activity, inflation is kept in check and people can avoid the effects of inflation. Very very simplified and not particular accurate, but my point is his little talk only really applies if you're a moron and managed to screw up the economy on a massive scale. Also if you're name is Mugabe.
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Irulan S'Dijana
Amarr
Imperial Academy
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Posted - 2008.09.21 05:30:00 -
[23]
Chapter 7
Meh..no new ideas. Standard eco stuff.
Chapter 8
The fed reserve doesn't randomly print money whenever it wants. Implying the fed reserve might be misusing it's power is like imply every doctor will sexually assault their patients. It may happen, but it's so unlikely you don't need to worry. Seriously. Besides, even if they did misuse their power, I'd rather I don't know about it, in fact, I'd rather nobody knew anything. If we don't know, there isn't a problem.
Debt > money sounds bad, but as long as you can service the loan, you're all good. The banking system is good as it is, it works. The current crisis was from a bunch of mistakes by a bunch of morons. If the ôrulesö of the financial system were followed, the borderline people who managed to get honeymoon loans would've been laughed out of the bank. But they weren't, and now here we are. The high level of defaults are not a reflection of a broken banking system.
Chapter 9
Fun bit of history. Implication that without gold standard (or some tangible convertibility) we're all screwed. This is not true. Besides, if economic collapse comes to the US, the rest of the world would simply move on. Painfully, but the world wouldn't' end. Euro or even the Chinese Yuan, here we come. (probably Euro)
Chapter 10
This guy seems to like the gold standard. The lack of physical gold/other precious metals in the world makes this untenable. Also, anybody with a shovel, iron cast and fire could conceivably make new currency, which brings up a whole new can of worms. Imagine if Rio Tinto or BHP could print their own money. Id' rather have Central banks thank you very much.
The war = inflation is very true though. However, given fiat money, we don't really have an alternative. Actually, it kinda reminds me of a first year question I had; why do we need inflation. To this day I still haven't' got a totally satisfactory answer. I can think of at least one semi-good reason though → inflation means people invest to get out of inflation which helps economic activity.
Btw, graphs 1 and 2 is pretty much the same graph. They're simply two diff graphs describing the same phenomenon.
Chapter 11
pointless
I now have a headache and should probably start on my Behavioural Economics Uni assignmet. 
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HankMurphy
Minmatar
Pelennor Enterprises
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Posted - 2008.09.21 06:05:00 -
[24]
I think I'd rather pull out my own fingernails than watch that clip
Fortunately,i can still have all your stuff.
While I'm not a Dr. of Economics, I did stay at a Holiday Inn express last night. 
the answer to life, the universe AND everything (including your 3 hour economics presentation) is: 42
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"whining and crying for nerfs and boosts aint' no way to go through life son!" |
Jana Clant
New Dawn Corp
New Eden Research
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Posted - 2008.09.21 09:34:00 -
[25]
No one's getting anything, are they? You're just torturing them with your 3-hour presentation.
Join New Eden Research today and never worry about queues again!
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Cutter Isaacson
Minmatar
Hollow World Mining Corporation
QUANT Hegemony
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Posted - 2008.09.21 10:31:00 -
[26]
Don't give away your character. I did it 2 years ago and I regret it to this day. Keep hold of it and one day when real life isn't imposing too much you can come back.
Don't make the same mistake I did.
Originally by: Haks'he Lirky
Some people should just stick to Pac Man.
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B0rn2KiLL
Black Nova Corp
Band of Brothers
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Posted - 2008.09.21 13:02:00 -
[27]
Edited by: B0rn2KiLL on 21/09/2008 13:02:15
interesting, reserved.
i will listen to these chapters when i wake up, just came back from a huge test.
first chapter was very enjoyable
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Scagga Laebetrovo
Evil Bastards
Pirate Coalition
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Posted - 2008.09.21 13:19:00 -
[28]
Looking at the stock markets I think that you'd better wait for some new theories before enticing others to learn :D
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Scagga Laebetrovo
Evil Bastards
Pirate Coalition
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Posted - 2008.09.21 13:20:00 -
[29]
Hold on a second, I'll tell you what I learned. I think you probably got hit hard by the efforts of collapsing banks?
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JAQUE ALERA
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Posted - 2008.09.21 18:48:00 -
[30]
Keep them coming. Irulan and Norwest have given honest effort and are in the lead for the character. There is no right or wrong comment. Agree or disagree with the materials offered.
I learned a long time ago that your reputation and keeping your word are the two most important signs of your character. Someone posting in this thread by next Sunday will receive this character.
My life is going away from broadband internet and computers. I have no reason to shelf this character for the future.
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