How The Economic Machine Works


#1

I would like to share this video with you and maybe you will learn something about economy


How The Economic Machine Works by Ray Dalio

A New Look At The Modern Homestead
ETN Friends HappyOur
#2

I will watch. Let me take a shower first. I stink.
Not a Etn shower though. :blush:


#3

Thanks @Jernej
Very good easy to understand the basics .
I was fortunate enough to have majored in economics.
Some people of today don’t have this sort of knowledge.
Great topic, thankyou.
:chipmunk::chipmunk:


#4

Yes those are really basic. But I like the simple way of explanation.
I still think that majority of people investing in crypto does not have basic knowledge.


#5

Yes I agree.
My 26 year old just says" Huh daddyo?"
Anything that is not right in front of her or in a
Screen is not relevant.
It should be compulsory in schools to learn the basics.


#6

The you posted is good, but at the same time it doesn’t explain the scam behind the scenes on a FIAT system, check this video out and your mind will blow:


#7

Really nice video thank you for sharing.


#8

That’s a very well done video @Jernej, thanks for sharing!

His 3 points at the end are truly priceless to understand and put into practice. I always tell people to get/ learn whatever they can from whatever job they’re in at the moment, even if it’s short term or they don’t like it. You never know what skills you will use down the road to “increase your productivity.”


#9

Thanks makes it easy to understand. :sunglasses::+1:


#10

One thing I’d like to touch on is this part:


Only taking debt when it can provide for you was the gist of it, don’t remember exact wording.

In the case of getting a mortgage to buy a house/ property, it’s all about turning that property from a consumer (of your money) to a producer (somehow it works/ earns for you.) Whether that’s growing your own food, keeping chickens and selling eggs, doing an air bnb with part of it, lots of possibilities. Doesnt have to be a full blown business, and you don’t have to be limited to only one side hustle.