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Cake day: March 17th, 2024

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  • Super layman’s explanation ahead, there is a high chance of me getting something wrong here:

    Very broadly, inflation can be caused by there being more money to spend than there are goods to buy with it.

    If there’s €10 in the system that is available to be spent and an amount of goods that was worth €5 yesterday, the goods are probably going to be worth €10 now.

    When a bank gives a loan to someone, it effectively creates new money. This doesn’t need to involve actually making new money in the sense of a mint or even a central bank. If I possess €100 of actual physical cash and I give €50 loans to five people, that’s totally fine so long as I can rely on no more than two of them actually requiring hard cash at a time before they pay me back. So now I have essentially “created” €150 more than there was before. And so long as everyone trusts that I can actually show up with €50 on demand, they can act as if they have the €50.

    The central bank’s interest rate is what the central bank will pay me if I keep my €100 deposited with them. If that’s 5%, I’ll have €105 next year. As such, I will only offer loans if I expect to make more than €5 off of them once they are all repaid.

    So if the interest rate is 21%, you are gonna need a hell of a business plan to be able to beat what I’d get by just leaving my money with the central bank. I am now unlikely to lend any money unless someone can persuade me that they’ll beat 21%. As such, I’m no longer loaning money out to all of those five people. Only two of them have plans that are that good. Now, there is way less money available to spend than there was in the other scenario, because two people have €50 each instead of five. If the amount of goods to buy stays constant, then by the principal from the very start of this mess there is less inflation. Buyers don’t have more money to spend, and prices remain lower.


  • Skua@kbin.earthtoWorld News@lemmy.world*Permanently Deleted*
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    15 days ago

    Strictly speaking there aren’t term limits for the UN Secretary General. By convention it’s five years per term, two terms max. Guterres is currently three years into his second term.

    Honestly though I’m not sure that him attending the BRICS thing is a bad move. Surely his job is to try to foster discussion across hostile lines? I don’t know what his actual conduct at the conference was, but I can definitely imagine that an attempt to push for peace is within plausibility




  • Finland isn’t a big country in population terms, but it’s still over five million people. Looking at a population pyramid it looks like there are about 300,000-400,000 children in the stated age range in the country. I’m pretty sure you could find six people to support damn near anything if you get to choose from 300,000

    Also, though, they all already spoke Russian. That doesn’t mean they’re somehow genetically predisposed to imperialism or some shit, but it does suggest that they’re more likely than most to have some pre-existing cultural connection to Russia


  • The aeticle should have said, but it’s OPHI’s Multidimensional Poverty Index. It checks the following:

    • Nutrition
    • Child mortality
    • Years of schooling
    • School attendance
    • Cooking fuel
    • Sanitation
    • Drinking water
    • Electricity
    • Housing
    • Assets

    These are grouped into three categories (health, education, and standard of living) and each category is a third of the total score. Each indicator is an equal portion of the score for its category. If a household lacks access to at least a one third of the total after that weighting, it is deemed to be in poverty

    So, as an example, if Household A has the health aspects covered (nutrition and child mortality), has access to education but their children don’t actually attend, and does okay on the standard of living indicators (the last six) except for a lack of electricity, they would not count as being in poverty. If, however, their neighbours in Household B also lacked reliable access to cooking fuel and sanitation, Household B would count.








  • Given the fact that they’re pretty much producing everything for western economies and is recently industrialised China is actually doing fine. They emit a lot less per person than the average European while producing goods for 2x their population.

    From your own source, the EU emitted 5.6 tonnes per person in 2022. It doesn’t show per capita numbers for China, but it does show a total value of 10,613,171,000 tonnes for 2022. Divide that by 1.412 billion for China’s population and you get 7.5 tonnes per person

    Consumption-based emissions, to account for the balance of imports and exports in China and the EU, do put Europe’s per-capita emission above China’s. But it’s by 10% in 2021, and the trend shows the gap narrowing year on year as China’s net emissions increase and Europe’s decrease.

    The investment they’re making into clean power is great. It just doesn’t cancel out the simultaneous expansion of fossil fuel usage.