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Who died and left the US $7B?

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Re: Who died and left the US $7B?

#551

Post by gradschoolfail »

aebtebeten wrote: post #216
defrost wrote: post #78

Earlier quoted context omitted.

Feudal systems are better described as local organised threat of violence. There are castle strongholds, control of choke points, a lower strata that are required to work the land and pay tithe upwards to the military heirarchy. Feudal systems have existed in times and locations where there was little need for military defense against external forces, they persist in form as a polite, polished, chivalrous bikie club…

> Warrior nobility systems farm farmers A farm is a system with many living beings, but most of the benefits accrue to those we call the farmers. A farmer farm is a called a fief ( feudum in latin), so it's no surprise that under feudalism most of the benefits accrue to those who have control over heaps of feuda. Would it be true that under capitalism most of the benefits accrue to those who have control over heaps o…

Morally speaking, is ((profitnegative externality) (speculationliquidity provision)) a tautology i could get any of u curious about?

It motivates a search for the mystical beast: Marxist financier (not the pastry?)

(Not to mention elucidates the boney/HF-inspired principle of intertwining* (wrt scaling — CENDEC, decentralizing by centralizing — marxist-financing-in-itself))

*https://archive.is/FxHSl

https://news.ycombinator.com/item?id=40603483

Re: Who died and left the US $7B?

#552

Post by lazide »

SR2Z wrote: post #521
lazide wrote: post #513

Earlier quoted context omitted.

This is the ‘fuck anyone trying to pass anything to their children’ element which most parents will (rightly) got WTF at.

The exemption is several million dollars. I don't mind if people get mad when anything more than that is taxed.

That is not what the prior comment I was addressing said. Maybe implied, but that’s different.

Re: Who died and left the US $7B?

#553

Post by hgomersall »

VirusNewbie wrote: post #550
kelseyfrog wrote: post #549

Earlier quoted context omitted.

How would you halve the money supply?

it's a thought exercise. I'm asking if you think that would the consequences be?

Between 2008 and 2020 M2 pretty much doubled and prices barely moved anywhere. This was intentional policy for the purpose of increasing inflation which stayed doggedly around zero. What does this tell us? Pretty much nothing because money supply is a useless measure.

What would happen if we halved it? Dunno, but to achieve that, stuff has to happen, and depending on that stuff, you might get price changes. I expect if the gov engaged in QT to achieve it, very little would happen.

Re: Who died and left the US $7B?

#554

Post by aebtebeten »

gradschoolfail wrote: post #551
aebtebeten wrote: post #216

Earlier quoted context omitted.

> Warrior nobility systems farm farmers A farm is a system with many living beings, but most of the benefits accrue to those we call the farmers. A farmer farm is a called a fief ( feudum in latin), so it's no surprise that under feudalism most of the benefits accrue to those who have control over heaps of feuda. Would it be true that under capitalism most of the benefits accrue to those who have control over heaps o…

Morally speaking, is ((profit negative externality) (speculation liquidity provision)) a tautology i could get any of u curious about? It motivates a search for the mystical beast: Marxist financier (not the pastry?) (Not to mention elucidates the boney/HF-inspired principle of intertwining* (wrt scaling — CENDEC, decentralizing by centralizing — marxist-financing-in-itself)) * https://archive.is/FxHSl https://news.y…

Defo! (but not necessarily a tautology: there are models where it's false, it just happens to be true both for Marxists and for financiers — or have we some axioms which would make these models inconsistent?)

Note that 1984's Inner Party, despite not owning anything, benefits from everything; compare Plato's Guardians: https://news.ycombinator.com/item?id=24069572 (or Номенклатура?)

On a straight CenFi note, even Cicero is more subtle than he'd appear by my contextless quote in https://news.ycombinator.com/item?id=41796726 ; he may have enlisted Cato to frown upon usury, but I take http://www.perseus.tufts.edu/hopper/text?doc=Perseus%3Atext%... as implying that he smiles upon clipping coupons: Sed ut pecuniae non quaerendae solum ratio est, verum etiam collocandae, quae perpetuos sumptus suppeditet...

[the distinction between ownership and benefit in both code and common law jurisdictions has its roots in roman law, but unless either of you are really interested I'm not going to delve in that graveyard]

EDIT: HF? Our Ford?

EDIT2: for an SAP advertorial, I like TLTF! pigs acorns etc.

Re: Who died and left the US $7B?

#555

Post by hgomersall »

willcipriano wrote: post #543
hgomersall wrote: post #534

Earlier quoted context omitted.

So no, you don't understand it?

So, its implemented then?

"implemented"? What does that mean? MMT accurately describes the monetary operations and fiscal constraints of a sovereign government (i.e. with their own currency) and from which you can predict outcomes with a high degree of reliability.

Insomuch as "implemented" means using the policy prescriptions (specifically, the job guarantee), there are no countries doing that, but various real world experiments have touched on it.

Japan had done things differently (albeit from a different perspective of mainstream economics) and is a good test case for the MMT model, especially given how many bet against the yen (and lose), implying the mainstream models are struggling there.

Re: Who died and left the US $7B?

#556

Post by VirusNewbie »

VirusNewbie wrote: post #550
kelseyfrog wrote: post #549

Earlier quoted context omitted.

How would you halve the money supply?

it's a thought exercise. I'm asking if you think that would the consequences be?

>Between 2008 and 2020 M2 pretty much doubled and prices barely moved anywhere

Except Real estate prices more than doubled. Also the Dow went from ~11k to 32k . So almost triple.

Re: Who died and left the US $7B?

#557

Post by logifail »

tsimionescu wrote: post #522
logifail wrote: post #512

Earlier quoted context omitted.

"VAT is... - an indirect tax on the vast majority of goods and services - borne by the final consumer, not by businesses - charged as a percentage of the sales price and collected fractionally at every stage of production and distribution - neutral, as the tax borne by the final consumer is the same regardless of the length of the supply chain" https://taxation-customs.ec.europa.eu/taxation/vat_en

VAT (and sales taxes) are absolutely paid by the company, not by the consumer. I as a consumer don't need to keep track of my purchases and pay VAT on them at the end of the month or year. Companies instead keep track of their sales and need to pay the associated VAT to the state every month. And the final consumer of a good can also be a business, in which case VAT is still paid for that good. For example, if you bu…

> VAT (and sales taxes) are absolutely paid by the company, not by the consumer [...] companies instead keep track of their sales and need to pay the associated VAT to the state every month

Businesses collect it on sales to their consumers (output VAT) and offset any VAT they've paid to their suppliers (input VAT) and the balance is paid to the state.

As that taxation-customs.ec.europa.eu article states: "VAT is borne by the final consumer, not by businesses."

(Source: I've been personally registered for VAT, I've worked for companies who were registered for VAT, I've had customers who were registered for VAT).

Re: Who died and left the US $7B?

#558

Post by vanjajaja1 »

t0mas88 wrote: post #269
vanjajaja1 wrote: post #148

Earlier quoted context omitted.

reminds me of the way dubai auctions off the 3 digit car license plates, then hotels do things like only letting low number license plates park out front

Brilliant move, then use the money to support those that are less well off. You can have the ultra-rich bragging about how much they paid, while those that need it most are benefitting. A real win-win.

yep, iirc on the huberman podcast on testosterone it even said that the competition that's decided by society has an impact on t-levels. societies that make prosocial / win-win games for men obv end up better off

Re: Who died and left the US $7B?

#559

Post by hgomersall »

VirusNewbie wrote: post #556
VirusNewbie wrote: post #550

Earlier quoted context omitted.

it's a thought exercise. I'm asking if you think that would the consequences be?

>Between 2008 and 2020 M2 pretty much doubled and prices barely moved anywhere Except Real estate prices more than doubled. Also the Dow went from ~11k to 32k . So almost triple.

And yet the price of a cabbage stayed exactly the same. Oh, we also had close to zero interest rates, might that have something to do with peoples' appetite for higher mortgages and shares over bonds?

Re: Who died and left the US $7B?

#560

Post by lowkey »

bdndndndbve wrote: post #185
lowkey wrote: post #182

Earlier quoted context omitted.

Amd this is why there are no mid-sized family businesses remaining in Canada, except for the occasional farm. Billionaire oligopolies are all that remain as only they are sustainable in the tax farm once known as the great white north.

Billionaire oligopolies are everywhere, this isn't a uniquely Canadian problem. TFA points out we live in an era of Gilded Age inequality.

I come from a province that is wholly owned by a billionaire family. They own all industry, all media, and basically every (barely) living wage job outside the government. Look up the Irving family.

Billionaires may not be a uniquely Canadian problem, but the lack of a wealthy middle of entrepreneurs and reasonably wealthy individuals is uniquely Canadian.

Canadians cheer at taxing the rich and as a result end up with a “middle-class” that is barely getting by, a billionaire class that rules the Kingdom, and nothing in between.

Canada is designed to support Oligopolies. It does so in the media, food distribution, telecom, insurance, banking and virtually every industry in the country. This is an intentional policy decision of punishing entrepreneurs and pushing us out of the country. Look at the recent wealth taxes and the national response to them as an example.

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