Pro-God, Pro-Human Life, anti-New World Order, Anti-Nefarious Secret Societies, Pro-Civil Liberties, anti-Torture, anti-National ID Card, Pro-Family, Anti-Neo Conservativism, Pro-Net Neutrality, Pro-Home Schooling, Anti-Voting Fraud, Pro-Good Israelis & Pro-Good Palestinians, Anti-Human Trafficking, Pro-Health Freedom, Anti-Codex Alimentarius, Pro-Action, Anti-Bigotry, Pro-9/11 Justice, Anti-Genocide, and Pro-Gun Control. My name is Timothy and I'm from the state of Virginia.
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Sunday, March 11, 2012
Economic Debate
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Study japan with a 200% + GDP how do they do it. Why haven't there interest rates blown up as predicted by the Austrian school.Why haven't they entered hyperinflation as predicted. Why is there debt still being bought up ( let me guess gun point right). The answer lies in understanding soft currencies
yes, corruption is ramped. This is what happens historically from the concentration of wealth.From the Romans to modern times. Are trying to blame this on the current monetary system. As if under a gold system there isn't corruption?
IN the US 15 million people joined the unemployed in a matter of a year. You are saying that these people all of a sudden lost their ability to produce and have therefore lost their "capital". That,s even more idiotic then most Austrian theories. There out of work because a loss of demand not their ability to work. Just insane
It also redefines capital. Capital and labor are two different things. Labor must Labor because they have no capital
This is not how a modern banking system works. Banks create money by creating claims on base money(deposits). Only the Government (fed) can issue base money. Since bank deposits are several magnitudes higher than reserves, banks increase M3 money supply . However settlement is always reconciled in reserves.Increase in reserves lag increases in deposits( claims on reserves). This proves that deposit expansion occurs, then the FED in reaction increase reserves.
So you're saying if I produce 10,000 cars and do not use them. I'm more well off than the cave man who left the raw materiel in the ground. By this definition cave men were wealthier than us as they "saved' all those raw materials. wealth is the production and use of tangible goods.My standard of living does not increase if I produce tangible products and do not use them they could just as well never be taken out of the ground.
Libertarian lady : " We're for eliminating just about every regulation since 1916"
Tarpley : " What about Child labor laws"
Libertarian Lady : " Im talking about Financial regulations".
This lady is a lying sophist, she claims she's against ALL regulations, & then when caught about it, she lies through her teeth & says im talking about financial regulations. Austrians/ Libertarians are against Child labor laws, its a fact. These people are nothing but obfusctors of facts.
-A Person
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Carla Howell says around 32:30ish " there's never real deregulation, they just keep adding to more regulation"
This is the key to Austrian economics, if empirical reality is different than your idealog then you ignore and imagine reality to fit your perspective. It's really more cult than a serious body of study.
danceparty80 1 week ago
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As has been said, great moderation. I'm amazed people buy into this "libertarian" mumbo jumbo of mixing liberty with social catastrophe...
Webster, the intellectual giant as usual. I hope he'll be on more often.
Libertarians always try to cloak their hatred of social security, medicare, medicaid by saying that you have to preserve them "for now" in order to restore economic order and get a recovery. But occasionally, their hatred shines through. Look at Howell's reaction when Webster says "economic rights." The disdain and the smug attitude make it clear that Libertarians have no intention of preserving any of those programs, regardless of what the condition of the economy is.
It's hard to debate someone (schiff) who can't understand a that a non convertible currency issuing nation can't run out of money. And that financial savings come from borrowing not the other way around. One person's financial savings is another person's financial liability. When Schiff can't get these elementary concepts it does little good to debate him. He guaranteed hyperinflation in a year of QE1 = no credibility
Jimbo permalink
Libertarians, at the end of their ideological progression, want the “state to wither away”. Strange, but I recall Marxism stating, among other things, the same thing, the goal of the “state to wither away”, after some period of “adjustment” (it never happens). Both are unrealistic. Both are utopian, ideology driven world-views.
Please see Frederick List and the American System (a 19th century U. S. political-economy theory) where the government did have a role, and, under that system import tariffs were a principle component. And, under the ‘American System’, first promoted by Alexander Hamilton (too bad, there is evidence he had links to European bankers) and continued through the 19th century by Lincoln, advocated by Heny Clay, and others, the United States became the strongest economy in the world.
This is a fact.
Libertarians believe in so-called “free trade”, but “free trade” promotes labor arbitrage, Arbitrage is the nearly simultaneous purchase of a good or asset in one market where the price is low, and sale of the same good or asset in another market where the price is higher. This creates an international ‘race to the bottom’ that the Money Power is uniquely situated to take full advantage of, thus, principally labor is devalued, causing purchasing power & demand to decrease.
Libertarians want government to be only a “referee”, neutral in terms of outcome, but a totally free market almost invariably has the strong (or those willing to cheat, steal, and be morally ruthless) prevailing over the weak. The Money Power is strong in relationship to individuals (the Money Power has demonstrated, time and again, it is willing to “cheat, steal, and be morally ruthless” to conquer & dominate those that are will not “cheat, steal, and be morally ruthless” because of moral & ethical constraints. In other words, Libertarians, being utopians, ignore human nature, and, thus, in their ideological system, those that are willing to “cheat, steal, and be morally ruthless” rise to the top of the economic heap and end up oppressing others.
Groups, by and large, will prevail over individuals, thus, the Money Power (a very powerful group) will prevail over individuals in the economic race.
Yes, in the Libertarian system, monopoly capitalism ends up being the final result or simple cartel capitalism, which isn’t much different from monopoly capitalism in terms of the welfare of the individual.
To preserve the Free Enterprise System, a competitive system of choice and individual initiative, you need government to be more than a neutral “referee”.