91–98 of 98 posts
Earlier quoted context omitted.
Yup mine too and on top of that everything has gotten smaller and shittier in quality too. I really wish they would have met the banks collapse. That would have done wonders for fixing this inflation. Nope us wage slaves will continue to lose.
If the bank collapsed you'd lose because the bank has your paycheck in it.
Earlier quoted context omitted.
Physical and human capital is all still there. Who cares. https://youtu.be/HuepiJcMKoQ
The human capital certainly wouldn't be there since they'd all quit when they don't get paid for weeks.
Earlier quoted context omitted.
Precious metal coins is a concept that the ancient Greeks introduced and the Romans spread across their empire. Ancient Egyptians didn't use precious metals. They used something far more mundane. You are a farmer? You bring your harvest of corn to a storage house and receive a receipt of your deposit on a clay tablet. But here is the thing. Storing grains is expensive and they don't last forever, so the depositors ar…
I love how one can make an example (gold coin) to illustrate an issue (debasement) to receive a long lesson about the example being incorrect instead of discussing the issue. I never said "gold is the solution", and in fact my example is about how governments historically debased gold coins. An egyptian government can also "debase" grain. Just issue fake receipts for unexistent grain, and buy things with them at curr…
I don’t see the problem here. Does the government have any intention of paying it back? What would happen if all created money was payed back?
Seems more like created money/governmental debt needs to stay so people have something in their pockets to actually pay for something.
Earlier quoted context omitted.
To me it is increasingly critical to separate capitalism from free market. They have gone together for some time, but in the end capitalism aims to crush free market when it benefits the capital. State is needed to stop too much consolidation from occurring and prevent monopolies where alternatives are sensible.
I don't agree. It is state intervention that causes consolidation and monopolies. A free market keeps monopolies in check.
Earlier quoted context omitted.
> As if those are unrelated concepts. They are. A slow/moderate increase in prices (even 20% a year) has nothing in common with “the salary you've received on the first of the month has lost most of its value by the end of the month”, the social and economic causes and consequences of these two events are completely different. > that the common sense understanding of inflation It's only “common sense” because Milton…
I'm listening to the audiobook "The Price of Time" right now and it gives chapter after chapter of empirical evidence. Friedman was absolutely not the first economist to notice the connection between monetary supply and inflation. Locke wrote against artificial low interest rates in the 18th century.
In a pre-industrial economy, the total economic output is essentially fixed (crop production, which makes the vast majority of the economic output, mostly depends on the weather) and supply is always the decisive factor in an economy.
In industrial economies however the economic output mostly depends on the demand: if there's demand for something, then the industries will just ramp-up production to fit the demand (be it for smartphones or aircraft carriers like in WWII). In this regime, you don't really have monetary-induced inflation, until the industrial output can't follow for some reason (in most cases, the output in actually decreasing, meaning that stopping money emission won't solve the issue either, and you need to actively contract the economy to curtail inflation (like Volcker did after the oil shocks) or just slow it down a bit to wait until the problem sorts itself out, à la Jerome Powell).
Earlier quoted context omitted.
I don't agree. It is state intervention that causes consolidation and monopolies. A free market keeps monopolies in check.
This claim is baffling to me. Are you saying without state intervention Amazon wouldn't just buy out every potential competitor or drive them out of business using currently regulated tactics?
[0] - https://en.wikipedia.org/wiki/List_of_mergers_and_acquisitio...
Earlier quoted context omitted.
This is supply and demand: https://twitter.com/stuartbdonovan/status/166414741287168409... Your new land has to be insurable, not in a fire/flood zone, get roads and utilities built out to it, and has to not already have local land-use busybodies zoning it R-1 or inventing brand new weird design requirements.
>Your new land has to be insurable, not in a fire/flood zone, get roads and utilities built out to it, and has to not already have local land-use busybodies zoning it R-1 or inventing brand new weird design requirements. At the same time, none of these things other than roads/utilities are a requirement in my country and housing is still rising in price much, much faster than anything else + wages.
(Some countries like the UK don't have this because it's even _worse_. There are no written requirements of what's legal to build, because nothing at all is legal to build without convincing a planner to allow it.)