News for hackers. Stuff that matters.
Re:SVB Depositors, Investors Tried to Pull $42B Thursday by eru on Friday March 10, 2023 @11:37PM (#35105408)
You might like to read up on the very basics of accounting. There's lots of other interesting concepts there.

See https://martin.kleppmann.com/2011/03/07/accounting-for-compu... for an intro.

Re:SVB Depositors, Investors Tried to Pull $42B Thursday by orwin on Saturday March 11, 2023 @02:36AM (#35106299)
Just a small comment on this:

To me, accountants have a better grip on reality than economists. It's an accountant who taught me real economics (I was originally pursuing a math degree with economy as a 'minor' (not really how it's working in my country but close enough)). I had to unlearn some of what I learned in my first year, but I had a way better grip on how money work after that (and decided to create value and changed course).

Re:SVB Depositors, Investors Tried to Pull $42B Thursday by eru on Saturday March 11, 2023 @02:49AM (#35106365)
Yes. Well, carpenters have an even better grip on reality.

Accountants and economists are doing different things. Both fields are useful, and there's some small overlap between the two.

Many people could benefit from learning some 'rationalised' accounting, ie accounting without the accumulated historical accidents and tax dodges. (Those are also interesting. But less as a description of a reality, and more in the same vein that the Talmud is interesting.)

Re:SVB Depositors, Investors Tried to Pull $42B Thursday by orwin on Saturday March 11, 2023 @07:44AM (#35107857)
But orthodox economic theory goes against most thing i learned. To be honest, i really thought it didn't matter, that macroeconomics was on its own, and that economists are valid expert to listen to. We were still in eurozone crisis, and while i thought "This plan doesn't make much sense" when the Troika laid out what Greece should do, GDP and socioeconomic markers were not stuff i learned or cared about.

And then like 5 years ago, i learn about MMT, read about it, disagree on some points, but it overall make much, much more sense and si way closer to reality than Friedman theories to me. It seems like macroeconomics do follow the stuff i learned when i wanted to become a quantitative analyst or whatever (i only wanted to do math tbh, and didn't follow finance classes that much).

And then during Covid we have all those "expert" economists who start to talk everywhere. But now, i am sure they are talking out of their own asses. They had now idea of what production is. The simple idea that production is linked with energy is novel for them. They probably are useful, like sociologists are useful, but i'd like to hear them on medias as much as i hear sociologists. Or even less, since i do think sociologists have real-world application to their thesis, for harm reduction during stampede. Let's say as much as medievalists historians.

Re:SVB Depositors, Investors Tried to Pull $42B Thursday by kevin_thibedeau on Saturday March 11, 2023 @11:20AM (#35109678)
The experts are the ones who engineered decades of low interest rates so their buddies can get cheap loans and play financial games with the economy. They've never been trustworthy.
Re:SVB Depositors, Investors Tried to Pull $42B Thursday by eru on Saturday March 11, 2023 @10:07PM (#35116048)
MMT is both novel and correct. The problem is that the novel parts aren't correct, and the correct parts aren't novel.

Have a look at https://www.econlib.org/library/Columns/y2021/Sumnermodernmo... for MMT.

I suggest having a look at market monetarism. See eg https://marketmonetarist.com/2015/07/14/the-euro-a-monetary-...

What kind of orthodox economy theory have you had a look at?