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The author John Aziz
John Aziz
I am interested in global trade dynamics, debt dynamics and the flow of credit, moneyness and currencies, unclearing markets, futurology, civil libertarianism, drone warfare, market democracy, solar technology, ecology, the psychology of bubbles, behaviourism, Bayesian statistics, subjectivism and a whole load of other stuff.

John Aziz: Azizonomics

Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t

Money has three principal functions: as a medium of exchange, as a store of value, and as a unit of account. Secondary attributes that have aided the adoption of various forms of money include interestingness (“Ooh! Look how shiny that gold is!”), uniform divisibility, portability, resistance to counterfeit, and imposeability. That last one is important, because it is what makes state-backed fiat currency the dominant form of money in the world. The U.S. government is territorially and...

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Don’t Tolerate The Trumpists

Armed with his famously short temper, and the kind of weapons of mass destruction that America once went to war to prevent men like him from obtaining Trump is quite possibly the man that will end civilization as we know it. His supporters are an unfortunate mix of three groups. (All three groups, of course, have some overlap). First, wealthy people, who care mostly for tax cuts and whether the president is deferential to big business. Second, not-so-wealthy suckers suckered by Trump’s...

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Yellen: “There Will Be No New Crisis In My Lifetime”

Via Reuters: U.S. Federal Reserve Chair Janet Yellen said on Tuesday that she does not believe that there will be another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash. “Would I say there will never, ever be another financial crisis?” Yellen said at a question-and-answer event in London. “You know probably that would be going too far but I do think we’re much safer and I hope that it will not be in our lifetimes...

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Trump’s Awful Tariff Plans Will Hurt America

He plans a 35% tariff on goods manufactured by American firms abroad: The U.S. is going to substantialy reduce taxes and regulations on businesses, but any business that leaves our country for another country, — Donald J. Trump (@realDonaldTrump) December 4, 2016 fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S. …… — Donald J. Trump (@realDonaldTrump) December 4, 2016 without retribution or consequence,...

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Immigration Makes Us More Prosperous

This is a really important fact that people don’t talk about enough: McK & IMF: #immigrants (living not where born) account for 3.4% of world pop but produce 9.4% of world output/$6.7tn https://t.co/tcFELcPYid — Linda Yueh (@lindayueh) December 1, 2016 That is a huge gap. Immigrants’ economic output is almost three times their weight as a proportion of the population, a difference that adds up to $3 trillion annually. Why would this be the case? Well, immigrants are typically pretty...

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Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed

To all who argued the financial world would’ve collapsed without the bailouts: The political world is collapsing now because of the bailouts — Emanuel Derman (@EmanuelDerman) June 25, 2016 The bigger picture of the early 21st century follows: Western nations experienced a massive blowout bubble of leverage, irrational exuberance, and Hayekian pseudo-money creation. Yet this money was not going to overwhelmingly productive causes. The real output of the Western world did not follow...

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Why will people colonize space?

Noah Smith over at Noahpinion does a rundown on why Firefly doesn’t really resonate with him. I agree with his take: But in Firefly, why do we – meaning the crew of Serenity – go to space? It’s not for a higher purpose. There’s no science being done, no galaxy being saved. The show’s theme song may be about freedom, but unlike many of the people around them, Mal and his crew aren’t colonists. They aren’t going to found a new, more liberal republic on the virgin soil of a distant world....

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Beyond Good And Evil

It is tiring to hear voters complain about having to stump for a lesser evil. The whole notion of purity in life — but especially in politics — is Manichean at best, and sophomoric at worst. Every choice in life and politics is a shade of grey. Pretending that any political candidate is anything other than a mesh of good and ill — much of it unintentional — is facile. Bernie Sanders and Jill Stein and Gary Johnson are shades of grey. Policies that appear to be unadulteratedly pure and...

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Britain Is Finished

On the 23rd of June, Nigel Farage says we got our country back. This couldn’t be any further from the truth. The UK’s decision to leave the EU is the UK’s death knell. I don’t mean to speak in cliches, but goodbye Great Britain, and hello Little England. Every region in Scotland voted to stay in the EU. If the UK leaves, this is a direct violation of the will of Scottish voters. Scottish independence — and possibly Irish reunification, given that a majority of Northern Irish voted to stay...

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