And you would be correct, if people drilled down into the data you'd see the birth rate drops off massively by 2nd/3rd gen when they hit the modern world.
It's the Amish and Mennonites that seem to retain people well by having it be optional.
America is more likely to be Amish than anything else if we got solely by the trend.
I'm with you in that except the nothing of value has been created, which I would tweak to nothing new of value has been created.
I've spent more than an hour with the tools, ChatGPT and SD being my two big buckets and it's great for productivity within some areas, mostly in fast mockup/art and creative writing, mostly fiction level.
I've use it to format and transform my own work, and as a tool it's useful.
Like any of these tools, early adopters get an edge for a bit and then the market adoption rolls out and we equalize.
I see it mostly filling in the 80% of the easy stuff, with humans stepping in for that last 20%, which has been my approach with good success.
However the hype train around it has gone past annoying and into downright scammish/spamish marketing.
Oh I could tell you work in finance, that was obvious from the language usage and technical terminology.
I'm not going to write an essay to refute this, we shouldn't have to as the results are obvious, aka how's that Big Mac index doing on the 10y.
Do you know who Henry Duncan was, what his value prop was, and how/why it died?
The end game was inevitable, and very senior people were ignored in the 80s when the flaws where pointed out.
What you have stated here, I would argue it is the perception people have of what transpired, you saved the banks but are you really saying there was no cost, and if so where did the value generation come from and at who's expense?
We are talking about different points of view, and I do realize what I'm saying can be viewed as a critique of your value, and many more like you, however I'm not.
I understand, and agree with you, that like yourself many many people have been doing amazing work to keep the financial networks flowing.
The critique is with erosion of purchasing power of our store of value, the average person is not a wall street guy and didn't understand that Henry's value prop died in 1971 and how to store value completely changed.
| but am always surprised by the populist hot takes from folks so far removed from the system
Why are you surprised, serious question. The system isn't straight forward and there are elements that are just straight up dishonest, and unless you work in the industry you won't really understand all these things.
I would argue that the networks are designed this way now, versus how they used to work and this is where people's understanding of how it's supposed work, and the disconnect you see, derives from.
> Tax payers” paid nothing, and benefited from the recovery from the disorderly Lehman collapse and the credit squeeze that caused. There’s a lot of speculation that the relatively mild inflation the US experienced post pandemic was due to all the QE and other moves the government and governmental bodies did, as well as pandemic stimulus
This is completely wrong and naive, please let us know what agency you work for.
You say stuff like that with an references, for the record everytime the money printer is run the tax payers, aka bag holders, pay out the ass.
Saying the inflation is mild is not agreed with, where are you getting that from?
And it's all open source!
I'm with you on this, OP is being egocentric and playing a zero sum game which it clearly isn't.