Oh, you live in the same world, he understands the world much better than you do of-course. He is wrong thinking that government can 'buy' the rations to redistribute them. The rations will have to be taken away directly by force, there will be no buying involved, other than that he is correct... Until the moment that the producers find a way to eliminate that theft. They are the ones with the productive capacity and the capital required, so they will come up with a way to do that and then... genocide.
The reason USA is in a depression (and it is) is the ignorance that is permeating the society based on the collectivist ideology that is permeating this/. story.
Wealth is created by those who produce. Wealth is traded between the productive people, a sale is only meaningful when there are sides that are exchanging the products they created with each other. To tax 100 people who are producing so that 1000000 people who are not producing can use the confiscated money to 'buy' products from the firs 100 people is theft but not trade. It does not in any way imaginable improve the situation of the first 100. They are best off by only trading among each other.
You are avoiding that simple truth at all costs because there is nothing at all that you can say that changes it.
The government violence used to confiscate from the first 100 to allow the 1000000 to 'buy' from the 100 prevents the 1000000 from creating something of value to trade, thus making the 1000000 not just useless but also undesirable burden that are allowed to exist only until such time that the 100 come up with a way to eliminate the threat.
Since the 100 have all of the production capacity, they can and will come up with a way to eliminate the threat. Your ideology leads to genocide.
There should be nothing of the sort and there is nothing of the sort. Ability to save more and more is the ability to invest more and more into things that people desire and people's desires are limitless. You lack imagination but not everybody else does. Living a longer and a healthier life is a desire of humans, to achieve that the expense is overwhelming by today's standard. To be able to prolong life by tens, hundreds, thousands, millions, billions, trillions of years is impossible today, the expense is overwhelming. To learn more about every part of the universe the expense is overwhelming today. You clearly do not understand or see the link between production and savings and between gaining new physical abilities and knowledge. Not everybody is as blind as you are.
Ha ha ha, it is trivial to consume. Producing is hard, producing makes one wealthy, wealthy of the product, the asset, the result of the labour. Trading is important if you want to exchange result of your labour for result of labour of others. Selling to those, who are not producing, but get money from you via taxes is not trading.
Selling is trading, if there is no trading then the sale is a loss. A sale between a producer and a non producer is a loss. To gain, you have to trade with other producers. If you want to argue on something then argue on this, this is the most central point of my argument: trading means exchanging produced goods, if one side produces and the other side does not, then there is no trade, and selling under those conditions is a loss. If you produce and you are taxed, so that your own money is used to 'buy' from you by a non producer, that is a loss that is even greater..
The bounds are only in your head. There are no upper bounds on peiple's desires nor should their be. Your ideology of theft and redistribution is to bring everybody else down to your level, it is anti freedom, anti humanist.
UBI is theft and redistribution, just like every other idea that rakes more from some to buy the mob with the promise of easy life. No, I don't buy into any notion of collectivist theft and redistribution regardless of how they dress it up and what they name it. It is still theft and it is not trade.
If there are 2 people on the planet, one is producing food and the other is doing nothing, but he has a gun and is taking the food produced by the first, then it is clearly an armed robbery and clearly there is no trade. Just because it is a few billion people who might produce nothing, who have government with guns to rob from a few thousand producers, does not change the equation.. The producers only trade with other producers. To sell something to a person, whose money came from the taxes imposed upon the producers does not mean to trade, it means to exchange ones own money for ones own product. Might as well not sell at all, this avoiding the taxes, avoiding the product from being taken away forcefully. Might as well only barter with other producers and might as well not support those, who are robbing you.
Switzerland just voted against their idiotic idea of UBI 78% against. They get it.
Any collectivist robbery is just that and must be stopped or it will destroy the system entirely and in case of automation this means this: the military and the police can be automated as well. Taking down a very large crowd with flying, driving, running robots may just be possible this time, so previous threats that created collectivism through violence in the first plave may eventually be negated.
Automation brought down the food prices 200 years ago to the point where only a few could feed everybody and did so but in an honest exchange.
Automation is taking down other prices and will keep doing so ( government created inflation none withstanding) that an honest exchange will still be possible.
UBI will create an impossible situation of complete theft, where the producers are forced to provide to non producers for nothing, no exchange at all. Money taken from the producers used to 'buy' from the producers is theft, not trade. It would be best for all to recognize this and remove government from money manipulation, from business and labour regulation, from welfare redistribution, getting rid of income and wealth taxes completely, so that people can save and start and run their own businesses, creating new ideas for production that others want. People will find things to produce, font use government violence to break their legs and to give them crutches, just step away and let them create on their own.
Ha ha ha ha, in a female dominated western world there is 0 chance that the crying will not get the next politician from making a name for him or herself by promising to 'tax the rich their fair share' so that Suzy with her 5 kids gets welfare (oh, sorry, UBI) money for each one of them.
UBI is theft and redistribution, just like every other idea that rakes more from some to buy the mob with the promise of easy life. No, I don't buy into any notion of collectivist theft and redistribution regardless of how they dress it up and what they name it. It is still theft and it is not trade.
If there are 2 people on the planet, one is producing food and the other is doing nothing, but he has a gun and is taking the food produced by the first, then it is clearly an armed robbery and clearly there is no trade. Just because it is a few billion people who might produce nothing, who have government with guns to rob from a few thousand producers, does not change the equation.. The producers only trade with other producers. To sell something to a person, whose money came from the taxes imposed upon the producers does not mean to trade, it means to exchange ones own money for ones own product. Might as well not sell at all, this avoiding the taxes, avoiding the product from being taken away forcefully. Might as well only barter with other producers and might as well not support those, who are robbing you.
Switzerland just voted against their idiotic idea of UBI 78% against. They get it.
Any collectivist robbery is just that and must be stopped or it will destroy the system entirely and in case of automation this means this: the military and the police can be automated as well. Taking down a very large crowd with flying, driving, running robots may just be possible this time, so previous threats that created collectivism through violence in the first plave may eventually be negated.
Automation brought down the food prices 200 years ago to the point where only a few could feed everybody and did so but in an honest exchange.
Automation is taking down other prices and will keep doing so ( government created inflation none withstanding) that an honest exchange will still be possible.
UBI will create an impossible situation of complete theft, where the producers are forced to provide to non producers for nothing, no exchange at all. Money taken from the producers used to 'buy' from the producers is theft, not trade. It would be best for all to recognize this and remove government from money manipulation, from business and labour regulation, from welfare redistribution, getting rid of income and wealth taxes completely, so that people can save and start and run their own businesses, creating new ideas for production that others want. People will find things to produce, font use government violence to break their legs and to give them crutches, just step away and let them create on their own.
Producing makes you wealthy. Selling means trading. Trading with others for what they produce. If they do not produce but get their money from you via violent redistribution then you are not trading, you have your wealth (the product of your work) confiscated.
If there are 2 people on the planet, one is producing food and the other is doing nothing, bit he has a gun and is taking the food produced by the first, then it is clearly an armed robbery and clearly there is no trade. Just because it is a few billion people who might produce nothing, who have government with guns to rob from a few thoisand producers, does not change the equation.. The producers only trade with other producers. To sell something to a person, whose money came from the taxes imposed upon the producers does not mean to trade, it means to exchange ones own money for ones own product. Might as well not sell at all, this avoiding the taxes, avoiding the product from being taken away forcefully. Might as well only barter with other producers and might as well not support those, who are robbing you.
Switzerland just voted against their idiotic idea of UBI 78% against. They get it.
Speed of light limit prevents disconnect between cause and effect and no complex system could self organize without a stable cause and effect rule set being enforced. There wouldn't be anything around if backward time travel was possible yet stars and planets and life exists, thus time flows in one direction and cause and effect link satisfies the requirement and this requires a maximum on the speed of light to exist.
Really, those are the worst in your opinion? How about Marx, Lenin, Mao, Stalin, Hitler, FDR, Hoover, Quadaffi (or however you spell it), Putin? Genocides, wars, murders, kidnappings, rapes, robberies, death, destruction.... How about stupidity, collectivism of all forms, types and shapes, ignorance, idleness? Governments are the epithome of the worst collectivists systems, religions, and we are mentioning Kardashiand and Trump?
But seriously, the Matrix was a great movie but it makes a bad religion and a bad belief system. What Musk is saying is akin to any other religion out there and his 'proof' is as good as a 'burning bush' or a talking snake.
Oh, and by the way, fractional reserve banking has merits if the lending standards are not out of whack with the reality, which is what happens when a government removes gold as money and then prints paper and then pretends that it has something that it can 'bail out' banks who made bad loans with. So then everybody blames the banks that they take very simple and calculated steps that are completely rational under those conditions: they make as many and as dangerous bets as they can get their hands on. Because WHY NOT? NOTHING and NOBODY is imposing the lending standards, in fact the opposite is the truth: government says: the hell with the lending standards, we want 'everybody to own a home' or 'everybody to have a college education' or maybe 'everybody to have a particular type of a car or any other product'.
The banks see it for what it is: a no lose situation. Whether the bank makes money or loses money on these very dangerous bets, the bank never actually loses money, it's called a moral hazard for a reason.
With gold (or really, with any actual productive backing for money) there can be no more backing than there is actual gold or whatever it is that needs to be mined/produced before even a government can make ridiculous claims that it 'stands behind all debts, including bank debts'. The insanity of what passes for so called 'mainstream economic and fiscal policy' today is actually very obvious but apparently not so obvious for the vast majority of the population, which is why they are always surprised, always behind the curve when the economy gets hit with these massive destructive events that are absolutely unavoidable but also absolutely predictable (except for the exact timing). Then 'the capitalism' gets the blame when the reality is that capitalism in a free market would not allow paper money to exist as a concept because nobody would take that money.
Oh, sure, you can be on 'gold standard' and have fake coins and there is still expansion of the money supply (gold) by mining it, however no government can print gold and actually get away with it, which is why all governments suspend and get rid of the gold money just before they start really printing to buy favours, to buy power from the mob, basically to buy the population and power.
Gold is not as arbitrary as anything else, gold has enough properties to make it money and keep it money for thousands of years. Now PAPER, that's arbitrary.
In your dreams it is '1-2%'. Inflation is the expansion of the money supply and the money supply is expanded every day based on the fake 'insurance' from government for every form of new debt that is created on daily basis. Expansion of the money supply also takes place every time the Fed creates new money to buy USA bad long term debt and various assets (operation QE, operation twist, buying mortgages, etc.)
Inflation is rampant, the 1-2% nonsense is just that - nonsense, inflation is double digits and this is what destroyed the USA productivity over the last 40, no soon 50 years, since 1971 default on the dollar.
How to fix what? How to fix the unbearable inflation? Well, get back to recognizing that gold is money and force the government to live within its means, which means reducing taxation by a gigantic amount as well as almost completely eliminating the entire socialist welfare state.
That's how you 'fix it'. You cannot prevent people from hiring in other countries, good luck with that, you'll have no companies left within your borders at all.
On the so called 'main street economists', who are nothing more but mouth pieces for politicians who want to 'provide easy solutions' through impossible promises and thus eventually through inflation (money printing).
On robotics in the labour market, relative value of labour via capital investment and the role of government in destroying jobs by making labour too expensive to hire.
On SS and other ponzi scams ran by governments and on reasons for deflation being a desired situation compared to inflation. Those who think people will stop buying stuff they need today just because next year it may cost a couple of percent less are blind to the point that they don't see that people prefer to get into debt today (credit card debt as an example, annualized 20% debt) to buy what they want/need right now, so they are willing to pay this premium today just not to wait for tomorrow, so those arguments are nonsensical on their face.
/. moderators wouldn't know a troll if one bit them on the dick. Here is a clue: MightyMartian is a troll.
I am not a libertarian, I am an anarcho capitalist, however I am quite certain that there is nothing about libertarians that makes them more or less likely to 'despise and/or fear women'.
Ha ha ha, because national and transnational governments have a track record of knowing prices of thing, of being able to work within budgets, not to underrepresent, not to underestimate, not to be corrupt? Where is this science.... scratch that word, where is this fiction you are getting high on?
The companies that mine and sell you fossil fuels make a profit, sure, but you are the ones actually benefitting from the use of these fuels. How does it make any sense whatsoever to tax these companies or to force them to collect extra money from the consumers? By what authority can you force a company that mines and sells a resource to collect more money from a consumer, when everything I'd done globally?
'Externalities' are meaningless, pricing in a free market is the only source of meaning. You are going to steal that money from that consumer and do what with it? Build nukes via government? If you want nukes built ( and I do want nukes build, I believe that nuclear is some of the cleanest power we can get) get rid of government interference in nuclear power research and generation.
That's expected. Wall Street has been addicted to easy money for the last two decades. You can thank Alan Greenspan for that.
- why should "I" thank him? He is the worst excuse for a banker there was.. before Bernanke and then before Yellen.
When the feds raise interest rates in June, expect another stock market correction to take place. When that happens, I'll be buying up my favorite stocks at lower prices in my retirement accounts.
- right, you think there will be an interest rate hike, we'll see, I don't think there will be one but if this one happens it will be reversed quickly since the Fed is not data dependent, they are stock market dependent.
The gloom-and-doom stories sells The Wall Street Journal, but I based my financial decisions on facts and not emotions. If that makes me an ignorant fool, so be it.
- who exactly at the WSJ was actually on top of the housing bubble? Sure, sure, facts and emotions, did you short the tech market before the 2000 crash? the housing before 2008? Are you short the USA dollar and bonds today (at least by not being in them)? Your so called facts and emotions are based on government propaganda or are you actually looking at economic data? The answer is obvious.
You know, before you open your mouth you should truly stop once in a while and think what it is that you are trying to say in the first place. What 'sustained growth' are you talking about? Where is this supposed 'sustained growth', 'sustained growth' in what? In debt? Sure. In inflation (money printing)? Sure. In bubble formation? Ok.
Sustained growth in production, which is what economy is? No. There is no growth in productive output, which is clear from the bloody yearly trade deficits that USA has been running for over two decades now. USA least productive in its recorded history today, only surviving on the welfare provided by the Chinese and the like, who are feeding, clothing the country as well as providing it with almost every other modern manufactured good. It is China that is sustaining economic growth, America is sustaining growth of debt, inflation and misery, not productivity.
Tuesday, December 8, 2015 Labour force participation rate 62.5, which was 1/10 of a percent from the lowest level since mid 70s. Biggest surge, 300,000 part time jobs created rather than full time jobs Janet Yellen 'was looking for improvement of the job market'. How is that an improvement. Manufacturing ISM number on that day was at a 6 year low Service sector ISM number was below estimates Retail sales were abysmal Consumer confidence was falling everything was pointing to a slowing economy
Then on the 16th of December the Fed raised the interest rates by 0.25 percentage points. Then in January of 2016 the market had the biggest decline since 2009 responding to a mere 0.25% rate 'hike' (which wasn't even a hike, it was a move in 'range', which actually moved the interest rate by about 0.15 since the previous range was 0-0.25, the new range is 0.25-0.5, the actual number in the old range was about 0.11-0.18 or so).
The Fed is not looking at the economic data at all, the reason they raised the interest last December had nothing to do with the economy, it was pure politics. The Fed was promising a rate hike for such a long time it had to save face. Yellen floated the idea of a rate hike for about a month or so before they raised it, the markets didn't move much, so they raised it just to make it look like they can reduce the Fed's balance sheet. Reducing the Fed's balance sheet is impossible without a massive interest rate hike, which will hit should the Fed start selling the long term bonds they are holding, especially after the operation 'twist' (selling short term bonds and buying long term bonds from the sellers, effectively switching a large portion of the Treasury debt to a short term, variable rate mortgage).
Basically the Fed is in a box, it wants to look like it can get out of it but in reality if it does try it will annihilate the ability of the USA Treasury to pay even the interest on the debt, never mind the principal.
AFAIC you are an ignorant fool, not any different from all the ignorant fools who didn't understand the economy before 2008 and thus couldn't see the clear signs of a bubble that was about to burst. The next one is in the USA debt, which will lead to a currency crisis. Enjoy your blissful ignorance before the reality hits.
Slashdot Mirror
Oh, you live in the same world, he understands the world much better than you do of-course. He is wrong thinking that government can 'buy' the rations to redistribute them. The rations will have to be taken away directly by force, there will be no buying involved, other than that he is correct... Until the moment that the producers find a way to eliminate that theft. They are the ones with the productive capacity and the capital required, so they will come up with a way to do that and then ... genocide.
The reason USA is in a depression (and it is) is the ignorance that is permeating the society based on the collectivist ideology that is permeating this /. story.
Wealth is created by those who produce. Wealth is traded between the productive people, a sale is only meaningful when there are sides that are exchanging the products they created with each other. To tax 100 people who are producing so that 1000000 people who are not producing can use the confiscated money to 'buy' products from the firs 100 people is theft but not trade. It does not in any way imaginable improve the situation of the first 100. They are best off by only trading among each other.
You are avoiding that simple truth at all costs because there is nothing at all that you can say that changes it.
The government violence used to confiscate from the first 100 to allow the 1000000 to 'buy' from the 100 prevents the 1000000 from creating something of value to trade, thus making the 1000000 not just useless but also undesirable burden that are allowed to exist only until such time that the 100 come up with a way to eliminate the threat.
Since the 100 have all of the production capacity, they can and will come up with a way to eliminate the threat. Your ideology leads to genocide.
There should be nothing of the sort and there is nothing of the sort. Ability to save more and more is the ability to invest more and more into things that people desire and people's desires are limitless. You lack imagination but not everybody else does. Living a longer and a healthier life is a desire of humans, to achieve that the expense is overwhelming by today's standard. To be able to prolong life by tens, hundreds, thousands, millions, billions, trillions of years is impossible today, the expense is overwhelming. To learn more about every part of the universe the expense is overwhelming today. You clearly do not understand or see the link between production and savings and between gaining new physical abilities and knowledge. Not everybody is as blind as you are.
Ha ha ha, it is trivial to consume. Producing is hard, producing makes one wealthy, wealthy of the product, the asset, the result of the labour. Trading is important if you want to exchange result of your labour for result of labour of others. Selling to those, who are not producing, but get money from you via taxes is not trading.
Selling is trading, if there is no trading then the sale is a loss. A sale between a producer and a non producer is a loss. To gain, you have to trade with other producers. If you want to argue on something then argue on this, this is the most central point of my argument: trading means exchanging produced goods, if one side produces and the other side does not, then there is no trade, and selling under those conditions is a loss. If you produce and you are taxed, so that your own money is used to 'buy' from you by a non producer, that is a loss that is even greater..
The bounds are only in your head. There are no upper bounds on peiple's desires nor should their be. Your ideology of theft and redistribution is to bring everybody else down to your level, it is anti freedom, anti humanist.
UBI is theft and redistribution, just like every other idea that rakes more from some to buy the mob with the promise of easy life. No, I don't buy into any notion of collectivist theft and redistribution regardless of how they dress it up and what they name it. It is still theft and it is not trade.
If there are 2 people on the planet, one is producing food and the other is doing nothing, but he has a gun and is taking the food produced by the first, then it is clearly an armed robbery and clearly there is no trade. Just because it is a few billion people who might produce nothing, who have government with guns to rob from a few thousand producers, does not change the equation.. The producers only trade with other producers. To sell something to a person, whose money came from the taxes imposed upon the producers does not mean to trade, it means to exchange ones own money for ones own product. Might as well not sell at all, this avoiding the taxes, avoiding the product from being taken away forcefully. Might as well only barter with other producers and might as well not support those, who are robbing you.
Switzerland just voted against their idiotic idea of UBI 78% against. They get it.
Any collectivist robbery is just that and must be stopped or it will destroy the system entirely and in case of automation this means this: the military and the police can be automated as well. Taking down a very large crowd with flying, driving, running robots may just be possible this time, so previous threats that created collectivism through violence in the first plave may eventually be negated.
Automation brought down the food prices 200 years ago to the point where only a few could feed everybody and did so but in an honest exchange.
Automation is taking down other prices and will keep doing so ( government created inflation none withstanding) that an honest exchange will still be possible.
UBI will create an impossible situation of complete theft, where the producers are forced to provide to non producers for nothing, no exchange at all. Money taken from the producers used to 'buy' from the producers is theft, not trade. It would be best for all to recognize this and remove government from money manipulation, from business and labour regulation, from welfare redistribution, getting rid of income and wealth taxes completely, so that people can save and start and run their own businesses, creating new ideas for production that others want. People will find things to produce, font use government violence to break their legs and to give them crutches, just step away and let them create on their own.
Ha ha ha ha, in a female dominated western world there is 0 chance that the crying will not get the next politician from making a name for him or herself by promising to 'tax the rich their fair share' so that Suzy with her 5 kids gets welfare (oh, sorry, UBI) money for each one of them.
UBI is theft and redistribution, just like every other idea that rakes more from some to buy the mob with the promise of easy life. No, I don't buy into any notion of collectivist theft and redistribution regardless of how they dress it up and what they name it. It is still theft and it is not trade.
If there are 2 people on the planet, one is producing food and the other is doing nothing, but he has a gun and is taking the food produced by the first, then it is clearly an armed robbery and clearly there is no trade. Just because it is a few billion people who might produce nothing, who have government with guns to rob from a few thousand producers, does not change the equation.. The producers only trade with other producers. To sell something to a person, whose money came from the taxes imposed upon the producers does not mean to trade, it means to exchange ones own money for ones own product. Might as well not sell at all, this avoiding the taxes, avoiding the product from being taken away forcefully. Might as well only barter with other producers and might as well not support those, who are robbing you.
Switzerland just voted against their idiotic idea of UBI 78% against. They get it.
Any collectivist robbery is just that and must be stopped or it will destroy the system entirely and in case of automation this means this: the military and the police can be automated as well. Taking down a very large crowd with flying, driving, running robots may just be possible this time, so previous threats that created collectivism through violence in the first plave may eventually be negated.
Automation brought down the food prices 200 years ago to the point where only a few could feed everybody and did so but in an honest exchange.
Automation is taking down other prices and will keep doing so ( government created inflation none withstanding) that an honest exchange will still be possible.
UBI will create an impossible situation of complete theft, where the producers are forced to provide to non producers for nothing, no exchange at all. Money taken from the producers used to 'buy' from the producers is theft, not trade. It would be best for all to recognize this and remove government from money manipulation, from business and labour regulation, from welfare redistribution, getting rid of income and wealth taxes completely, so that people can save and start and run their own businesses, creating new ideas for production that others want. People will find things to produce, font use government violence to break their legs and to give them crutches, just step away and let them create on their own.
Producing makes you wealthy. Selling means trading. Trading with others for what they produce. If they do not produce but get their money from you via violent redistribution then you are not trading, you have your wealth (the product of your work) confiscated.
If there are 2 people on the planet, one is producing food and the other is doing nothing, bit he has a gun and is taking the food produced by the first, then it is clearly an armed robbery and clearly there is no trade. Just because it is a few billion people who might produce nothing, who have government with guns to rob from a few thoisand producers, does not change the equation.. The producers only trade with other producers. To sell something to a person, whose money came from the taxes imposed upon the producers does not mean to trade, it means to exchange ones own money for ones own product. Might as well not sell at all, this avoiding the taxes, avoiding the product from being taken away forcefully. Might as well only barter with other producers and might as well not support those, who are robbing you.
Switzerland just voted against their idiotic idea of UBI 78% against. They get it.
Speed of light limit prevents disconnect between cause and effect and no complex system could self organize without a stable cause and effect rule set being enforced. There wouldn't be anything around if backward time travel was possible yet stars and planets and life exists, thus time flows in one direction and cause and effect link satisfies the requirement and this requires a maximum on the speed of light to exist.
.Has anyone ever noticed that Elon is an anagram of "Neo L" ?
Surely that's a clue that we're living in a matrix.
Has anyone ever noticed that Elon is an anagram of "Neo L" ?
Surely that's a clue that we're living in a matrix.
- deja vu.
Would that be free wheels as in beer can be free or are we talking about free willies?
Really, those are the worst in your opinion? How about Marx, Lenin, Mao, Stalin, Hitler, FDR, Hoover, Quadaffi (or however you spell it), Putin? Genocides, wars, murders, kidnappings, rapes, robberies, death, destruction .... How about stupidity, collectivism of all forms, types and shapes, ignorance, idleness? Governments are the epithome of the worst collectivists systems, religions, and we are mentioning Kardashiand and Trump?
But seriously, the Matrix was a great movie but it makes a bad religion and a bad belief system. What Musk is saying is akin to any other religion out there and his 'proof' is as good as a 'burning bush' or a talking snake.
Oh, and by the way, fractional reserve banking has merits if the lending standards are not out of whack with the reality, which is what happens when a government removes gold as money and then prints paper and then pretends that it has something that it can 'bail out' banks who made bad loans with. So then everybody blames the banks that they take very simple and calculated steps that are completely rational under those conditions: they make as many and as dangerous bets as they can get their hands on. Because WHY NOT? NOTHING and NOBODY is imposing the lending standards, in fact the opposite is the truth: government says: the hell with the lending standards, we want 'everybody to own a home' or 'everybody to have a college education' or maybe 'everybody to have a particular type of a car or any other product'.
The banks see it for what it is: a no lose situation. Whether the bank makes money or loses money on these very dangerous bets, the bank never actually loses money, it's called a moral hazard for a reason.
With gold (or really, with any actual productive backing for money) there can be no more backing than there is actual gold or whatever it is that needs to be mined/produced before even a government can make ridiculous claims that it 'stands behind all debts, including bank debts'. The insanity of what passes for so called 'mainstream economic and fiscal policy' today is actually very obvious but apparently not so obvious for the vast majority of the population, which is why they are always surprised, always behind the curve when the economy gets hit with these massive destructive events that are absolutely unavoidable but also absolutely predictable (except for the exact timing). Then 'the capitalism' gets the blame when the reality is that capitalism in a free market would not allow paper money to exist as a concept because nobody would take that money.
Oh, sure, you can be on 'gold standard' and have fake coins and there is still expansion of the money supply (gold) by mining it, however no government can print gold and actually get away with it, which is why all governments suspend and get rid of the gold money just before they start really printing to buy favours, to buy power from the mob, basically to buy the population and power.
Gold is not as arbitrary as anything else, gold has enough properties to make it money and keep it money for thousands of years. Now PAPER, that's arbitrary.
In your dreams it is '1-2%'. Inflation is the expansion of the money supply and the money supply is expanded every day based on the fake 'insurance' from government for every form of new debt that is created on daily basis. Expansion of the money supply also takes place every time the Fed creates new money to buy USA bad long term debt and various assets (operation QE, operation twist, buying mortgages, etc.)
Inflation is rampant, the 1-2% nonsense is just that - nonsense, inflation is double digits and this is what destroyed the USA productivity over the last 40, no soon 50 years, since 1971 default on the dollar.
It's their goddamn company, they should be able to fire anybody at any moment in time and hire anybody (if they want to).
How to fix what? How to fix the unbearable inflation? Well, get back to recognizing that gold is money and force the government to live within its means, which means reducing taxation by a gigantic amount as well as almost completely eliminating the entire socialist welfare state.
That's how you 'fix it'. You cannot prevent people from hiring in other countries, good luck with that, you'll have no companies left within your borders at all.
Who da fuk do you think you are? A free person in the land of other free people???????????? What are you smoking?
I am just going to link to some of the previous discussions, so that this one does not take place in the vacuum.
On the Japanese destroying their currency and causing a massive economic downturn. In the same discussion on the idiotic idea that government devaluing currency is 'good for exports'. It's only 'good for exports' in the way that lowering your pay makes your work cheaper, why should government be the one providing discounts on your labour on your behalf?
On the Fed causing more bubbles with inflation (money printing) to make it look like the economy is doing OK, when in reality all they are doing is eventually raising everybody's prices by destroying the value of currency.
On the so called 'main street economists', who are nothing more but mouth pieces for politicians who want to 'provide easy solutions' through impossible promises and thus eventually through inflation (money printing).
On population size, cartels and nonsensical ideas of central planning of those.
On robotics in the labour market, relative value of labour via capital investment and the role of government in destroying jobs by making labour too expensive to hire.
On SS and other ponzi scams ran by governments and on reasons for deflation being a desired situation compared to inflation. Those who think people will stop buying stuff they need today just because next year it may cost a couple of percent less are blind to the point that they don't see that people prefer to get into debt today (credit card debt as an example, annualized 20% debt) to buy what they want/need right now, so they are willing to pay this premium today just not to wait for tomorrow, so those arguments are nonsensical on their face.
On IRS and the Fed
On jobs going to India.
On the connection between government devaluing money of a nation and recessions/depressions.
On China being more free economically speaking than the USA and much of the rest of the world.
On Bitcoins.
On the coming US bonds and dollar crash.
On why it is dangerous to provide jobs in the USA.
On raising suicide levels in Japan due to economic problems.
On government being a consumption item and why it is bad to borrow for consumption.
On 'going cashless'.
On junk US bonds.
On 'trickle down' economics.
'Healthy people' in an 'unhealthy market'.
It's funny though, different messengers of the same message can get different moderation, but sometimes weirdly enough they let their guard down...
/. moderators wouldn't know a troll if one bit them on the dick. Here is a clue: MightyMartian is a troll.
I am not a libertarian, I am an anarcho capitalist, however I am quite certain that there is nothing about libertarians that makes them more or less likely to 'despise and/or fear women'.
Ha ha ha, because national and transnational governments have a track record of knowing prices of thing, of being able to work within budgets, not to underrepresent, not to underestimate, not to be corrupt? Where is this science.... scratch that word, where is this fiction you are getting high on?
The companies that mine and sell you fossil fuels make a profit, sure, but you are the ones actually benefitting from the use of these fuels. How does it make any sense whatsoever to tax these companies or to force them to collect extra money from the consumers? By what authority can you force a company that mines and sells a resource to collect more money from a consumer, when everything I'd done globally?
'Externalities' are meaningless, pricing in a free market is the only source of meaning. You are going to steal that money from that consumer and do what with it? Build nukes via government? If you want nukes built ( and I do want nukes build, I believe that nuclear is some of the cleanest power we can get) get rid of government interference in nuclear power research and generation.
That's expected. Wall Street has been addicted to easy money for the last two decades. You can thank Alan Greenspan for that.
- why should "I" thank him? He is the worst excuse for a banker there was.. before Bernanke and then before Yellen.
When the feds raise interest rates in June, expect another stock market correction to take place. When that happens, I'll be buying up my favorite stocks at lower prices in my retirement accounts.
- right, you think there will be an interest rate hike, we'll see, I don't think there will be one but if this one happens it will be reversed quickly since the Fed is not data dependent, they are stock market dependent.
The gloom-and-doom stories sells The Wall Street Journal, but I based my financial decisions on facts and not emotions. If that makes me an ignorant fool, so be it.
- who exactly at the WSJ was actually on top of the housing bubble? Sure, sure, facts and emotions, did you short the tech market before the 2000 crash? the housing before 2008? Are you short the USA dollar and bonds today (at least by not being in them)? Your so called facts and emotions are based on government propaganda or are you actually looking at economic data? The answer is obvious.
Sure sure, hyperbole. Like I said here, enjoy your blissful ignorance before the reality hits.
You know, before you open your mouth you should truly stop once in a while and think what it is that you are trying to say in the first place. What 'sustained growth' are you talking about? Where is this supposed 'sustained growth', 'sustained growth' in what? In debt? Sure. In inflation (money printing)? Sure. In bubble formation? Ok.
Sustained growth in production, which is what economy is? No. There is no growth in productive output, which is clear from the bloody yearly trade deficits that USA has been running for over two decades now. USA least productive in its recorded history today, only surviving on the welfare provided by the Chinese and the like, who are feeding, clothing the country as well as providing it with almost every other modern manufactured good. It is China that is sustaining economic growth, America is sustaining growth of debt, inflation and misery, not productivity.
Tuesday, December 8, 2015
Labour force participation rate 62.5, which was 1/10 of a percent from the lowest level since mid 70s.
Biggest surge, 300,000 part time jobs created rather than full time jobs
Janet Yellen 'was looking for improvement of the job market'. How is that an improvement.
Manufacturing ISM number on that day was at a 6 year low
Service sector ISM number was below estimates
Retail sales were abysmal
Consumer confidence was falling
everything was pointing to a slowing economy
Then on the 16th of December the Fed raised the interest rates by 0.25 percentage points. Then in January of 2016 the market had the biggest decline since 2009 responding to a mere 0.25% rate 'hike' (which wasn't even a hike, it was a move in 'range', which actually moved the interest rate by about 0.15 since the previous range was 0-0.25, the new range is 0.25-0.5, the actual number in the old range was about 0.11-0.18 or so).
The Fed is not looking at the economic data at all, the reason they raised the interest last December had nothing to do with the economy, it was pure politics. The Fed was promising a rate hike for such a long time it had to save face. Yellen floated the idea of a rate hike for about a month or so before they raised it, the markets didn't move much, so they raised it just to make it look like they can reduce the Fed's balance sheet. Reducing the Fed's balance sheet is impossible without a massive interest rate hike, which will hit should the Fed start selling the long term bonds they are holding, especially after the operation 'twist' (selling short term bonds and buying long term bonds from the sellers, effectively switching a large portion of the Treasury debt to a short term, variable rate mortgage).
Basically the Fed is in a box, it wants to look like it can get out of it but in reality if it does try it will annihilate the ability of the USA Treasury to pay even the interest on the debt, never mind the principal.
AFAIC you are an ignorant fool, not any different from all the ignorant fools who didn't understand the economy before 2008 and thus couldn't see the clear signs of a bubble that was about to burst. The next one is in the USA debt, which will lead to a currency crisis. Enjoy your blissful ignorance before the reality hits.