Thursday 9, December 2021
Charity giving
A recent Econtalk podcast was with a founder of Give Directly. The idea of this is beautifully simple: money you give to the charity ends up directly in the hands of a very poor person. There are no NGOs involved. No goverment officials are involved. No millenium development goals are measured. The charity does not to bear the cost of a ridiculously overvalued official exchange rate. No tariffs or bribes need to be paid to deploy the funds. No presidential family members get contracts to build over-priced infrastructure. It’s just money paid via one of the several African digital wallets.
Simples!
Wrap
Risk assets reversed some of their moves over the last three days. There seems to be no obvious trigger. Some meme stocks hammered. Tesla puked: down over 6%, but will probably bounce back. Bitcoin is back where it was in February. I doubt if many retail traders have made money this year.
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