I. V. M. Anyway, I think actually what you can do is you can use it to scratch your back I think that's a useful thing.
Have you heard of the butt-free stick? Butt-free stick. It's exactly what you think. It's exactly what you think.
And in Japan, that highly ingenious country, they have done away with the need to use your hands with the selfie stick and they've sort of made a selfie boot where you attach a phone to a horrible appendage on your shoe and then you just lift your leg and you take photos of it. Exactly. So, I think that's the demographic in Japan who has shoes and who knows martial arts enough to hold it in the 90 degree. Maybe that's our term, nothing about this would be a problem because now this is the two things that he loves, selfies and yoga.
So, this might actually be the perfect product for our esteemed group-rotting Prime Minister who is currently in Russia. I think, I think, I think he travels so that his butts learn of new places. You know, like when he made a, you remember that comment that he made in Canada, Canada and India are like the two A-B in A plus B whole square for me. You know something, I'm very, very impressed because I recently got, I hired a guy because he looked at a smile.
But an engineer who wasn't able to expand A plus B whole square, he didn't know the expansion. It's very nice. So, there's awesome. So, there's some sort of stuff in the background.
I'm sure the search is for people who have gone up a mile. No, but I think jokes about, for whatever you might think about Modi and I have a lot of complaints against him because I thought, you know, he would be downsizing government. They really haven't been downsizing government to me. I thought they would be.
But in international relations, they have done from the absolutely, absolutely dramatically well. I think, you know, he has a big hoorah for him, whatever side of the coin you are. Since we are on the topic of things abroad, something happened with the Fed recently, which I'm not able to back my head around in Tari Maan. So, I don't think it's going to be able to back the Fed around.
So, there is this little scene in the S Prime Minister, which, the episode is something about Jim Hacker facing the pound. There's been a run on the pound and it's a crisis and he's had to face a lot of angry questioning in parliament. So, he comes back and he's very angry and he's telling his principal private secretary, says, you know, I had to face the most terrible questioning. I really wonder, why would Humphrey do anything?
So, Humphrey should have warned me about this. So, what would he say, I'm afraid Prime Minister, so Humphrey doesn't understand economics so well. He did read the classics, you know. So, he refers to the fact that Humphrey specialized in Greek and Latin.
This is one of the works of Frank, who is the permanent secretary of the treasury. So, he says, I'm afraid Prime Minister, he's had an even greater disadvantage. So, what's the problem? He's an economist.
So, that's the problem. Economics is the last guy to figure out what is happening. And a lot of things that do is very apostrophe. So, they won't say anything.
They won't tell you whether the price is going to go up or go down. But if it goes up, they'll tell you a set of reasons. You know, it's one of them because there's the girl, the shipping and the girl, the Iran, the dynamics for the Iran and the Islamic State and all that and the other. And they'll offer you the same things if the price goes down as well.
So, actually boys and girls, if you want to have a great career doing things that nobody can question, you should be a macro economist because they can get away with anything. Basically, BuzzFeed writers are the better vocabulary. Absolutely. So, what the Fed is doing is this.
They are going to increase the interest rates which are close to the value. All right, what's the Fed? Yes. The Fed is the Fed who is a, which is headed by a lady named Jianati alam.
And before that, it was the United States of America. So, in the old glory days, it was headed by this guy named Alan Greenspan, who was legendary for mumbling. So, it was called Alan's speaker, Greenspan's speaker, something like that. So, there were entire consultants who decided what this guy was talking about.
I'm sure that on Greenspan, the works has been made many times. But even it has a industry of justice. So, yeah, put a Greenspan in the works. So, anyway, he is, the general consensus is he messed up things really bad.
And Ben Banank, you know, sort of said things right, he pulled down the interest rate on the thinking that if interest rates were zero, people wouldn't put money in the bank, correct, right? Because you put money in the bank primarily because you want to get some of it. And they would much rather invest it elsewhere and spend their money. So, all that was happening and the economy revived and started showing signs of, you know, going up.
And now America is seeing a period where employment is almost 95%, because unemployment is close to 5% or possibly even less. And now they feel that if anyone has a lot of money and anyone is going to go out and buy things, because there's no point in keeping it in the bank, prices are going to go up, which means inflation. And excess of inflation is something governments don't want. They don't want, it costs unhappiness among people.
So, people earn X amount of rupees or X amount of dollars a month. And then they go out expecting to find Y amount of things to buy. And they can get only Y by 2, they're really, really happy, they're going to vote you out of power. So, they want to increase the rate of interest, but they're going to increase the rate of interest very slowly.
Because the dollar is a very peculiar creature. They, America is printing $1 trillion, which is extremely large. It's, I think roughly the amount of atoms in the universe, like multiplied by 3%. But isn't that the total net worth of Apple?
Apple is a different, Apple is a different, Apple. Oh, Apple, what a company. But we will save that for another. I think we did, we did, we did, we actually set that Apple could buy out, it could bail out.
And then we had to receive the payment on 4, 9, 4, like, every single one, and then the country continues to be owned by Apple. So, you even decided to call it I agree, so something would be $1 trillion. $1 trillion, they're pumping in the money. Any other country which did that would see a decline in their exchange rate.
That's like what happened to Germany after World War II. They were a period of hyper-inflation. Zimabay is facing that poor, they hardly could get away. Zimabay, I don't think can fit in any of the zeros into their currency.
They reach that, I think that's their ceiling. So, you know there's a problem in the chicken, one genu of chicken for $17 trillion. It's like, you know, it might be something wrong with the economy. No, there's a bigger issue that when you stand in line to buy eggs, the price of eggs is tripled by the time you receive the end of the queue.
Now, that's the real problem. The Americans started pumping in $1 trillion a year. And all that lovely money, mostly went to the Chinese. It ended up in the world economy, right?
So, everything. And the price of the dollar, the exchange of dollar should have plummeted. But it didn't bid because it's the fiat currency. It's the currency that people use to trade and think, so if Russia is selling oil to South Africa, they're not trading in the ruble or the rent, they're trading in US dollars.
So, they didn't want to use dollars. The moment they used dollars goes down, they didn't crush this to buy it because they want to have taxes off their own. And the American economy, the economy was not really getting hit. And price is being stable.
There's no incentive for people to spend less. So, the Fed is betting that by raising interest rates, they at least induce a part of the economy, the part of the people who spend less than same more. But I very, very much doubt that half a percentage point is going to change any point or selling behavior. So, it's going to be a big waste of time.
What it is going to affect is the movement of money in the world. Fund managers are notoriously difficult. And they will move money in the billions for a mere half percent change. If American interest rates go up, a lot of money is likely to find it in the American bond market, which means that a lot of stock, because fund managers keep putting money into debt or stock or whatever, in emerging markets all over the world, a lot of the stock is likely to see a plug.
So, they complex and it's enormously difficult to understand. So, it doesn't be hype. So, by the sense, it's reacted to this very positively. And everybody said, oh, okay, it's a good time's back.
So, that's all the little hyperbolic isn't it? Yeah. You know, it's like this to be an old joke. I don't know if you heard it.
So, forgive me if you have. So, the joke is that Mittera was a president of France. He was a notorious fan of the extra-martical affairs. So, Goropita was telling this joke.
So, he says, Mittera has 100 mistresses. His problem is one of them has AIDS and he's probably the right of which one. And the American president who's a member of the senior Bush of the president, the mine of the world, he has his problem is he has 100 security staff, secret service agents. One of them is an assassin and Bush's problem is he don't know which one.
And Goropita said about himself, I have 100 economic advice. Only one of them has bans, my problem is I don't know which one. So, this is the entire problem with all economic commentary. One of those guys out there is right.
He knows what is happening. Probably we don't know which one. So, we'll have to get him quite.