Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

MAGA's March Toward a Command Economy

insights.som.yale.edu

Post reply on HN
Print view View original

11–16 of 16 posts

Re: MAGA's March Toward a Command Economy

#11

Post by pjmlp »

bediger4000 wrote: post #4

I think it's good that we as a nation found Trump to make these decisions, to decide winners and losers in the market, to set interest rates and so forth. Trump makes the decision, and it's done and good, no media frenzy, no court cases, no endless congressional hearings. Just a very few dispassionate, factual articles. The voting populace is happy, the Supreme Court is happy, job creating billionaires are happy. It…

Are there already audiences in place where the plebeian are allowed to expose their problems to the monarch in expectation to get a solution for what troubles their souls?

Re: MAGA's March Toward a Command Economy

#13

Post by aredox »

WalterBright wrote: post #10
aredox wrote: post #8

Earlier quoted context omitted.

[flagged]

I'm not defending what Trump is doing with this. I am simply amused that the left wing academics thought that what the Democrats do is promote free markets. They greatly interfere with the operation of the free market. They're just doing it in a different way. See rent control, for just a tiny example.

[flagged]

Re: MAGA's March Toward a Command Economy

#14

Post by chiefalchemist »

toomuchtodo wrote: post #3
chiefalchemist wrote: post #2

> Trump’s assault on free-market capitalism is anything but conservative As long as we have the heavy-handed Federal Reserve - tilting the game to pick winners and losers - we don’t have free-market capitalism. Funny enough, I heard an interview with Robert Reich early today about his new book. I didn’t hear the full interview but in the time I listening he didn’t get close to naming the Fed. I was dumbfounded. The t…

Sound comment, but a couple of points. There is no such thing as an absolute free market capitalistic system in existence today. Each system has thumbs on the scale in different ways to encourage different outcomes ("picking winners and losers") in some capacity. And while the Fed pulls the levers, trust is the foundation. Trust in consistency, the rule of law, and property rights. This is why US treasuries were cons…

That’s a solid point about the bond market. I’ll have to work it into my paradigm.

We’re on the general same page (i.e., conventional wisdom is wrong) but I have a counter-point.

Yes, trust is important. Those who have been favored and enriched by the Fed trusts that it will continue to do so (for them). Sum that up over time and we have what we have:

- wider and wider financial inequality

- more money and assets in fewer hands

- excessive federal gov debt

- more frequent bubbles of some sort

- etc.

I’m not so sure the bond market is at fault.

Re: MAGA's March Toward a Command Economy

#15

Post by chiefalchemist »

aredox wrote: post #9
chiefalchemist wrote: post #2

> Trump’s assault on free-market capitalism is anything but conservative As long as we have the heavy-handed Federal Reserve - tilting the game to pick winners and losers - we don’t have free-market capitalism. Funny enough, I heard an interview with Robert Reich early today about his new book. I didn’t hear the full interview but in the time I listening he didn’t get close to naming the Fed. I was dumbfounded. The t…

[flagged]

Let’s sum up the Fed’s accomplishments:

- wider and wider financial inequality

- more money and assets in fewer hands

- excessive federal gov debt

- more frequent bubbles of some sort (that lead to bailouts by taxpayers and consumers)

- etc.

What do we propose then? Keep lying to ourselves? Keep doubling down on insanity?

Re: MAGA's March Toward a Command Economy

#16

Post by aredox »

chiefalchemist wrote: post #15
aredox wrote: post #9

Earlier quoted context omitted.

[flagged]

Let’s sum up the Fed’s accomplishments: - wider and wider financial inequality - more money and assets in fewer hands - excessive federal gov debt - more frequent bubbles of some sort (that lead to bailouts by taxpayers and consumers) - etc. What do we propose then? Keep lying to ourselves? Keep doubling down on insanity?

What do you propose? Putting the economy under direct control of a "very stable genius" who is a know conman who managed to bankrupt a casino? State Economy à la Turkey/Türkiye?
Post reply on HN