23 Mar 13
Originally posted by Metal BrainSorry, to interfere with the lesson. Of course, in a limited sense he is right, and Keynsians are right to observe temporary benefits to intentional inflation, but the benefits are fool's gold, always temporary in nature. Pain, both actual, and economic are great teachers. When physical pain is eliminated, we may continue to injure ourselves, and when economic pain is removed, we are encouraged to continue bad policy.
I am well aware that fractional reserve banking has been around since the goldsmiths. Bank panics still happened in the USA after the 2nd Bank of the US and before the FRS as well. no1 marauder seemed to be unaware of that though. He talked as if fractional reserve banking was some modern development.
He needed a history lesson, so I gave him a limited ...[text shortened]... to see where he would go with it. You ruined it for me. I wanted to show him how little he knew.
The real lesson of the Great Depression is that attempting to artificially maintain high prices, especially of labor resulted in continued and lingering unemployment.
23 Mar 13
Originally posted by Metal BrainLMFAO! Arrogant idiots seem to be a never endangered species on these forums.
I am well aware that fractional reserve banking has been around since the goldsmiths. Bank panics still happened in the USA after the 2nd Bank of the US and before the FRS as well. no1 marauder seemed to be unaware of that though. He talked as if fractional reserve banking was some modern development.
He needed a history lesson, so I gave him a limited ...[text shortened]... to see where he would go with it. You ruined it for me. I wanted to show him how little he knew.
Thanks for the "history lesson"!
23 Mar 13
Originally posted by normbenignThe economy itself is an artificial creation, a man made tool. It is not meant to inflict pain or keep the great mass of people at subsistence level or lower.
Sorry, to interfere with the lesson. Of course, in a limited sense he is right, and Keynsians are right to observe temporary benefits to intentional inflation, but the benefits are fool's gold, always temporary in nature. Pain, both actual, and economic are great teachers. When physical pain is eliminated, we may continue to injure ourselves, and when ...[text shortened]... lly maintain high prices, especially of labor resulted in continued and lingering unemployment.
23 Mar 13
Originally posted by no1marauderNobody created an economy. Economics is really human actions relating with other humans based on what thinking humans do. It can be based on force or coercion of governments, planned or manipulated economy, or it can evolve out of the free choices of free men.
The economy itself is an artificial creation, a man made tool. It is not meant to inflict pain or keep the great mass of people at subsistence level or lower.
The pain inflicted, which I spoke of, is not to keep people at subsistence levels, but rather it is the punishment that markets deliver to producers who ignore what consumers want. That pain can be relieved by government, taking the consumer's money and forgiving delinquent or idiotic producers, because they are "too large to fail". If small or large producers can behave without regard to success, and are bailed out with money confiscated from the people, they will repeat the behaviors.
You argue for the masses, but defend producers from market responsibility. Funny to see a professed libertarian so in love with Statist controls.
23 Mar 13
Originally posted by KazetNagorraGee, if you can't have comfort in debating me on the facts I guess my source of info has some merit since making fun of it is all you can do while avoiding a debate with me.
If only more people got their knowledge of banking from the Money Masters!
Maybe you could learn something from it. Oh, that's right....you rely on sources of info that simply don't exist. How is that working out for you?
23 Mar 13
1 edit
Originally posted by normbenignAgain, the Big Lie technique. Of course, I strongly opposed the bailouts as everybody on this forum, including you, know. But it's hardly surprising that you have to blatantly and falsely claim otherwise as, like most reality, it makes your dogmatic, simple minded assertions look foolish.
Nobody created an economy. Economics is really human actions relating with other humans based on what thinking humans do. It can be based on force or coercion of governments, planned or manipulated economy, or it can evolve out of the free choices of free men.
The pain inflicted, which I spoke of, is not to keep people at subsistence levels, but rath arket responsibility. Funny to see a professed libertarian so in love with Statist controls.
Since you admit that an economy is simply human action, your claim that "nobody created it" is a paradox. When this man made tool isn't performing to an optimal level, common sense and sanity suggests that humans you should try to improve it. Laissez faire doesn't work even in theory and certainly doesn't in practice which is why no society ever has or ever will rely completely on it.
I don't expect a confused anarchist like yourself to understand my philosophy since you obviously haven't read or understood Locke.
EDIT: "Markets delivering punishment" is a revealing phrase. Bernard Brodie once wrote that the right wing mindset seems to be largely based on a psychological need to punish others who don't meet the high standards that such individuals like to impose. This largely explains their policy preferences which invariably favor elites or their own racial, ethnic or other group that they self-identity with.
23 Mar 13
Originally posted by Metal BrainWhat sources are you referring to? When have I referred to nonexistant sources?
Gee, if you can't have comfort in debating me on the facts I guess my source of info has some merit since making fun of it is all you can do while avoiding a debate with me.
Maybe you could learn something from it. Oh, that's right....you rely on sources of info that simply don't exist. How is that working out for you?
FYI, I was referring to the Money Masters because today I watched the first 30 minutes of it (hoping for a good laugh), then turned it off because we were so bored with it. It was mostly a bunch of platitudes, historical inaccuracies and constant emocutting about the Fed being a private bank (oh noes!) and the Rothschild family. There was less actual content than a Michael Moore movie, and that's saying something.
23 Mar 13
Originally posted by no1marauderI have read Locke. Have you read Mises?
Again, the Big Lie technique. Of course, I strongly opposed the bailouts as everybody on this forum, including you, know. But it's hardly surprising that you have to blatantly and falsely claim otherwise as, like most reality, it makes your dogmatic, simple minded assertions look foolish.
Since you admit that an economy is simply human ac ...[text shortened]... urself to understand my philosophy since you obviously haven't read or understood Locke.
23 Mar 13
Originally posted by KazetNagorraThere is a tendency to ridicule what you find difficult to argue against.
What sources are you referring to? When have I referred to nonexistant sources?
FYI, I was referring to the Money Masters because today I watched the first 30 minutes of it (hoping for a good laugh), then turned it off because we were so bored with it. It was mostly a bunch of platitudes, historical inaccuracies and constant emocutting about the Fed ...[text shortened]... family. There was less actual content than a Michael Moore movie, and that's saying something.
23 Mar 13
Originally posted by KazetNagorraThen let's talk about the historical inaccuracies you claim exist. That is a start.
What sources are you referring to? When have I referred to nonexistant sources?
FYI, I was referring to the Money Masters because today I watched the first 30 minutes of it (hoping for a good laugh), then turned it off because we were so bored with it. It was mostly a bunch of platitudes, historical inaccuracies and constant emocutting about the Fed ...[text shortened]... family. There was less actual content than a Michael Moore movie, and that's saying something.
The Federal Reserve System is a 100% privately owned institution. That is a fact.
By all means, get the debate started. That is what we are all here for.