theprestige
Penultimate Amazing
I'm not even talking about contentment.Yeah, for contentment it is definitely best not to know or think too much about what your tribe does.
I'm not even talking about contentment.Yeah, for contentment it is definitely best not to know or think too much about what your tribe does.
Vonnegut might call it a granfaloon, defined in Cat's Cradle as "false karass". That is, it is a group of people who affect a shared identity or purpose, but whose mutual association is meaningless, i.e. "the Communist Party, the Daughters of the American Revolution, the General Electric Company—and any nation, anytime, anywhere."I am in two minds about this.
On the one hand, the availability of national borders is what has kept the world comparatively safe. On the other hand it brings a whole lot of problems.
A Flag is just a sticker to make it easier to distinguish on territory from another on a map - any feelings beyond that are artificially created.
I think the world would benefit from a lot more zones of free movement of people and money like in the EU: people literally don't think much about traveling to other member States, as money, most laws, mobile phone contracts, driver's licenses etc.etc. work everywhere the same; you might not even notice that you've crossed a border.
Nation States as a rule shouldn't take themselves so seriously.
They are, after all, entirely artificial constructs.
I am an American. My father was involved in the Omaha Beach assault on D-Day. He was in the Navy aboard an LST transporting tanks ashore. His cousin or my cousin once removed was in the Army 26th Infantry Division that fought its way across Europe He died near Schevenhütte, Germany during the Battle of Hurtgen Forest.How do you feel when you see your national flag?
How much of your standard of living has been contingent on your country installing friendly dictators, imposing "free" trade on countries with less developed economies, proxy wars, etc.?
I don't think any person from a developed country should feel anything but shame in what their national flag represents.
Dump the king, change the date, replace the flag.I judge people who display our flag in their garden or window. Other than that, I don't mind it but they should come up with something less colonial, but that probably won't happen unless we ever ditch the monarchy.
If they have paid back the principal (even once, let alone many times), then they are out of debt by definition.Write off debt that developing countries have already paid the principal back many times over?
Make the flag itself the new king!Dump the king, change the date, replace the flag.
Compound interest doesn't work that way.If they have paid back the principal (even once, let alone many times), then they are out of debt by definition.
So they never paid back the principal at all?Compound interest doesn't work that way.
Or maybe the salty Saltire?The Butcher's Apron? Go figure.
Off the Gregorian calendar? But what to?Dump the king,
change the date, replace the flag.
They have in many cases paid back the amount of the principal many times over. The policies forced on these countries to repay debt rather than invest in public goods such as healthcare and education make it very difficult for them to ever grow their economies enough to clear the debt. This is deliberate. The countries have resources we want and colonialism ended, so instead we use the World Bank, IMF and WTO to keep them subordinate.So they never paid back the principal at all?
Do you regard this as a plot devised by a group of rich nations to oppress poor ones rather than as a phenomenon which emerges when each acts in their own interests?They have in many cases paid back the amount of the principal many times over. The policies forced on these countries to repay debt rather than invest in public goods such as healthcare and education make it very difficult for them to ever grow their economies enough to clear the debt. This is deliberate. The countries have resources we want and colonialism ended, so instead we use the World Bank, IMF and WTO to keep them subordinate.
When poor countries act in their interests by trying to develop their own industries they have their regimes changed through covert and sometimes overt means.Do you regard this as a plot devised by a group of rich nations to oppress poor ones rather than as a phenomenon which emerges when each acts in their own interests?
I did a little poking around and found that LDCs typically pay between 5% and 8% on their debt:They have in many cases paid back the amount of the principal many times over. The policies forced on these countries to repay debt rather than invest in public goods such as healthcare and education make it very difficult for them to ever grow their economies enough to clear the debt. This is deliberate. The countries have resources we want and colonialism ended, so instead we use the World Bank, IMF and WTO to keep them subordinate.
At 5% it would take 20 years for the interest cost to equal the principal; at 8% it would take 12.5 years. So in order for those countries to have paid the amount of the principal many times over we must be talking about over 100 years.Developing countries’ average interest cost on external borrowing is three times higher than that of developed countries (Figure 1). In the low interest environment of the last decade, developed countries borrowed at an interest cost of an average of 1 percent. Least developed countries (LDCs), which have increasingly tapped international markets in recent years, borrowed at rates over 5 percent, with some countries paying over 8 percent.
Compound interest doesn't work that way. 5% compound would take ~15 years for the interest to equal the principal and 8% only ~9 years.I did a little poking around and found that LDCs typically pay between 5% and 8% on their debt:
At 5% it would take 20 years for the interest cost to equal the principal; at 8% it would take 12.5 years. So in order for those countries to have paid the amount of the principal many times over we must be talking about over 100 years.
Only if they haven't paid a penny in interest or principal, which is not your argument as I understand it.Compound interest doesn't work that way. 5% compound would take ~15 years for the interest to equal the principal and 8% only ~9 years.
So a loan taken out in the 1970's (~40 years ago) has 2.7 and 4.4 doubling times at 5% and 8% interest, respectively.