Viewing profile — penny500

There's no reply button for me underneath your threads initially until some time passes. I guess that's how HN works for some. I'll respond to your latest comment here. > If you sa…

tiredofcareer, thanks for calling me stupid. This conversation has surely turned professional. It's quite funny when you espouse economically illiterate statements, then question t…

This is completely economically illiterate. China is a developing country. As a result, it uses less electricity than its developed counterparts. As China grows, it will be using m…

Do you have a more objective source?

Calm down. No one put words into his mouth. You, however, did put words into my mouth, which I find quite astonishing. Those windmills currently cover 1 million people. The world h…

Denmark's population is smaller than New York City by a couple million. The US would need a massive, massive number of windmills.

What would incentivize people to actually go into research if that were the case? Our best would all be bankers, lawyers, and mobile app developers.

Are you serious? Just because you're not Keynesian, it doesn't mean you do not believe in a central bank. Milton Friedman believed in a central bank.

"mainstream media" != "mainstream economists" I'd prefer the opinions of PhD economists with a special emphasis on currency transactions over yours or anyone else's, actually.

Mainstream economists aren't central planners. I don't mean just economists from both administrations. I meant mainstream economists from every school on the US News and beyond.

Can you elaborate on your thesis so I know what you're specifically referring to?

That's not how quantitative easing works. Quantitative easing doesn't fire up the printing presses. Bernanke can add $2 trillion into the system within 15 minutes, and no paper mon…

"It is being used as a currency" Do you have a source for this? As far as I know, and I know this is a theory but I suspect a good theory, people used bitcoin as a currency when it…

Once you secure the system however, the costs of increasing currency into that system is trivial.

Krugman isn't being a political partisan hack here. Every mainstream economist from the Republican and Democratic administrations agree that a currency backed similarly to gold (as…

How much does it cost to change bits of data on a computer? That's what happens with quantitative easing. Bernanke isn't calling up the printing presses to print $2 trillion in pap…

It's certainly not being used as a currency, its original intention. It's being used by speculators to get rich. Sure you might find a few examples of buyers and sellers using bitc…

What specific law are you referring to that forces Main Street to invest in 401Ks?

That's how Wall Street works. You give money to Wall Street, and Wall Street in turn chooses to distribute the money to technology or research companies like Google or Merck (or ev…

How so?

"There are always 2 parties to each transaction and one makes the money that the other one loses." Completely false. Wealth is not fixed. There can be two winners, which often happ…

Mainstream economists believe in free markets, and they also understand market failures and moral hazard. Government failure also exists.

Because for Wall Street to succeed, Main Street must fail? Why would Main Street transact with them at all if that were the case?

Well, you'd have to increase the salaries of Congress to that level, and that is probably politically unfeasible.

How is "regulation makes us less competitive" a straw man argument? If your Singaporean or European competitors operate under a set of different and less stringent rules, that woul…