Tags: hyperinflation, gold, A look at hyperinflation, and how it is exagerrated [ Add Tags ]
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advancedatheist | Posted: Jan 26, 2010 - 18:07 |
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Level: 3 CS Original | "Net worth" assumes a functioning society to produce the goods and services you'd need. In these collapse fantasies, not only would production shut down, but also health care, law and order and the ability to travel out of harm's way -- like in Port-au-Prince, in other words. You know, these Austrianists sound like luddites and nihilists at times. Why does Austrian crankonomics attract tech people who in other contexts consider themselves futuristic thinkers? | |||||
#61 | [ Top | Reply to Topic ] |
Agent Matt | Posted: Jan 27, 2010 - 19:36 |
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Genuine American Monster Level: 70 CS Original | Because tech people are often so isolated from humanity that preaching about society needing more selfishness sounds like a good thing. That and the whole social retardation thing. | |||||
#62 | [ Top | Reply to Topic ] |
Edward L Winston | Posted: Jan 27, 2010 - 19:43 |
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President Dwayne Elizondo Mountain Dew Herbert Camacho: porn star and five-time ultimate smackdown wrestling champion! Level: 150 CS Original | I always thought that nerdos like ultra-free markets because they think quoting Ayn Rand and believing that payroll tax is ultimate tyranny makes them look smart. ...or if they didn't go to college, then read "quoting Ron Paul" | |||||
#63 | [ Top | Reply to Topic ] |
advancedatheist | Posted: Jan 27, 2010 - 21:40 |
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Level: 3 CS Original | You could view taxes as a necessary charge for maintaining the capital we inherit just from living in the U.S. Some blogger pointed out that a Haitian who gets a job in the U.S. automatically earns a lot more money and enjoys a better quality of life, even if he does the same sort of work he did in Haiti. He'd certainly benefit from a better relationship with the government in the U.S. as long as he obeys the law. For example, American cops wouldn't shake him down regularly because the greater tax base can afford to pay them decent wages, provide health insurance and offer a pension. Poor countries with weak taxing power like Haiti have notoriously corrupt and abusive officials who don't hesitate to prey on their impoverished countrymen to supplement their low incomes because they can get away with it; they don't try to shake down their rich elites because the elites hold the real power in the country and employ private security forces to keep it that way. Yet libertarians want to make the U.S. more like a Third World country, where I guess their chauffeurs would drive them between gated communities and shiny new highrises in armored limousines, while they complain about all the poor people on bicycles and donkeys blocking traffic. | |||||
#64 | [ Top | Reply to Topic ] |
Edward L Winston | Posted: Jan 27, 2010 - 22:12 |
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President Dwayne Elizondo Mountain Dew Herbert Camacho: porn star and five-time ultimate smackdown wrestling champion! Level: 150 CS Original | But advancedatheist, freemarketiers would argue that a "true freemarket" as yet to exist and therefore other countries can't be used to evidence (read: YOU'RE DOING TO WRONG!) | |||||
#65 | [ Top | Reply to Topic ] |
advancedatheist | Posted: Jan 27, 2010 - 22:54 |
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Level: 3 CS Original | When will libertarians realize how stupid they sound by referring to their fantasy lives as "evidence" of how a pure free market society would work? | |||||
#66 | [ Top | Reply to Topic ] |
scitops | Posted: Jan 28, 2010 - 16:07 |
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Level: 4 CS Original | Check this out. Peter Schiff thinks him running for US Senate is the equivalent of American soldiers going to fight the Nazis during World War II. | |||||
#67 | [ Top | Reply to Topic ] |
scitops | Posted: Feb 04, 2010 - 01:50 |
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Level: 4 CS Original | I just noted another contradiction with the Austrians. I saw Peter Schiff screaming we don't save enough. However if he and his Austrian friends think the dollar is going to collapse why should we bother saving? Go out and spend those dollars on booze, crack, and hookers because it will cost $1 million to buy a loaf of bread. In fact if most people believed Schiff (and his own followers actually thought about what they believed in), malls would look like the recent crowded stores in Venezuela after Chavez announced that the currency would be devalued. I read the HDTVs sold out in minutes because Venezuelans believed hyperinflation was coming. | |||||
#68 | [ Top | Reply to Topic ] |
advancedatheist | Posted: Feb 04, 2010 - 09:35 |
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Level: 3 CS Original | >I saw Peter Schiff screaming we don't save enough. Perhaps Schiff meant that we don't save enough gold. Though Bertrand Russell pointed out the absurdity of digging gold out of the ground in, say, South Africa, and then reburying it in Fort Knox. | |||||
#69 | [ Top | Reply to Topic ] |
advancedatheist | Posted: Feb 05, 2010 - 10:34 |
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Level: 3 CS Original | BTW, don't savings add to the supply of funds available for fractional reserve lending, which Austrianists denounce? | |||||
#70 | [ Top | Reply to Topic ] |
Edward L Winston | Posted: Feb 05, 2010 - 13:12 |
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President Dwayne Elizondo Mountain Dew Herbert Camacho: porn star and five-time ultimate smackdown wrestling champion! Level: 150 CS Original | So what you're saying is: interest is an inside job? | |||||
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