highly aggressive, I'm thinking Xtrix — Yohan
He was pretty maniacal before Streetlight left. Streetlight was a bad influence. — Tate
Nah, he's like Streetlight in that he loses his mind if you disagree with him. — Tate
He is authoritarian, he is patronizing, he acts in bad faith. And now that he's a moderator, we can't do anything against that. — baker
He tells people to kill themselves. And he's getting away with it. — baker
as I long for death,
Then why are you still around? I don’t mean this to be callous — and I’m not encouraging suicide — but genuinely curious. If you long for nothingness, why keep going? — Xtrix
at its essence government is predicated on violence and coercion — Tzeentch
it is a deeply flawed method of organizing human coexistence — Tzeentch
So here, the term 'libertarian' means the opposite of what it always meant in history. 'Libertarian' throughout European history meant 'socialist-anarchist.' The worker's movement--the socialist movement--sort of broke into 2 branches, one statist, one anti-statist. The statist branch led to Bolshevism and Lenin and Trotsky and so on; the anti-statist branch, which included left-Marxists like Rosa Luxumberg, kind of merged with a big strain of anarchism into what was called 'libertarian socialism.' So 'libertarian' in Europe always meant 'socialist.' Here, it means ultra-Ayn Rand or Cato Institute or something like that. But that's a special US usage...
Financial regulation of the financial sector was done after the '29 crash and usually referred to laws like the Banking act of 1933 (the Glass-Steagal act). Bretton Woods refers to a currency system where the dollar was pegged to gold and other currencies to the dollar and was done after WW2. — ssu
Won't he die someday? — 180 Proof
Wrong. Please know the reality. — ssu
Not in the quantity now they would have had to. The simple fact is that the Federal Reserve was the largest buyer of this huge increase in debt until the start of this year. — ssu
Really? Tell me just what single owner is bigger? — ssu
You seem to think the Fed prints money and that’s what the Congress uses to send checks.
Actually, yes. — ssu
Last year (2021) the US federal government collected $4.05 trillion in revenue. It spent the government spent $6.82 trillion. Hence the federal government spent $2.77 trillion more than it collected, resulting in a deficit and new debt.
Who do you think bought that new debt? Who suddenly had a lot more US treasury securities? Think. — ssu
The Federal Reserve is the largest single owner of US treasuries. — ssu
A "thin connection" counted in trillions. :snicker: — ssu
And what is so hard for you in understanding a sentence like above: " the U.S. Federal Reserve has significantly ramped up its holdings of Treasury securities as part of a broader effort to counteract the economic impact of the public health emergency." — ssu
What makes you so confident about that? What mechanisms do you believe were at play that caused this success? Why were these successful policies later abandoned?
"Figure it out yourself" won't do. — Tzeentch
You suggest to view these men as inhuman monsters that reduce human beings to cogs in a market machine — Tzeentch
Can you explain to me the economic mechanism that ensured, as you say, no major crashes took place during this period, and why we are not utilizing this mechanism today? — Tzeentch
I truly hope you don't view classical liberalism as espousing such a view. — Tzeentch
If you want to minimize the role of the central banks, be my guest. But that's nutty in this World, in my view. — ssu
If the government cannot cover it's expenses by tax revenues, it can turn to the central bank, which either buys government bonds to finance this or simply prints more money to cover the expenses. — ssu
it's about both monetary policy and events like Russo-Ukrainian war. And monetary policy here is actually linked to the COVID response. — ssu
Let's keep the conversation honest. The birth of the United States was a period full of conflict and wars against nations that were at that time much more powerful. To just chalk that all up to "small government" is very convenient for you, and in my opinion bereft of any reason. — Tzeentch
Ups and downs is the nature of economics. It's exactly the desire to forcefully stop that fluctuation that makes government interventions so problematic. — Tzeentch
Imperfect man will always need some government, but too often we forget that its the same imperfect man that takes the reigns in government. — Tzeentch
If you argue that inflation doesn't export itself in a globalized world, you are simply going against the facts. — ssu
The global economy has had low inflation and low interest rates for many years. Before the financial sector and the central banks caused asset inflation. — ssu
The Fed’s policies move asset prices. That’s it. Fiscal policy— the government giving it checks, etc. — has some effect, sure. But it does not account for the higher prices of oil and gas.
Umm, I think you have not studied economics. — ssu
I do like to debate issues with you and don't want to be irritating or condescending. — ssu
So I'll give you an example of just why monetary policy and fiscal handouts do effect things like price of oil. — ssu
Second question: If we agree that at least some would spend a lot more than before, do you think that their increased spending would create "supply chain issues" or not? — ssu
They seemed to have worked well for the United States and its capitalists in the era between its conception and the second world war in which government expenditure was about 3-5% of GDP. — Tzeentch
And this accounts for inflation in Mexico, Brazil, Russia, Argentina, Canada, South Africa, and India?
Partly yes, — ssu
No. The reason you see inflation everywhere is due to factors that have nothing — zero — to do with monetary policy.
This is simply wrong. — ssu
What then do you think the reason is? — ssu
For libertarian or classic liberal ideas to be considered responsible for our current predicament, when the US government hasn't embodied those ideas for a very long time and has essentially moved in the opposite direction uninterrupted. — Tzeentch
You really think that the ECB multiplying the monetary base many times over won't in the end create inflation? — ssu
Especially when this was started by the Trump administration, you think it's just a right-wing talking point? — ssu
Sorry, but nobody is talking about the Modern Monetary Theory now in economic circles. For obvious reasons. — ssu
I don't think what created this massive transfer of wealth is a result of classical liberal ideas.
It seems to me the result of big business jumping into bed with corrupt, bureaucratic government in an unholy alliance against the common man - crony capitalism. — Tzeentch
You've got it exactly backwards. — Tzeentch
Except that his actions were based on an official decree by the highest leader in his religion. He wasn't just some nut job who was scribbling manifestos and getting messages from his dog. — Hanover
I also think it's a stretch to claim he's just one guy who happened to be Muslim and this act wasn't consistent with many to believe being Muslim requires of them. — Hanover
That said, leadership matters and how they react and steer the ship can have profound consequences. And do note that my concerns rest in how leadership has responded and how they've resorted to their theology in responding, or not responding — Hanover
But if you genuinely think the problem of inflation can be dealt with giving more assistance (which is basically printed money) to the people who will use it, then I assume Joe Biden will be happy with you. — ssu
Was the attack on Salman Rushdie consistent with mainstream Muslim theology? — Hanover
You do understand that assisting ordinary people (by printing a lot of money) was partly the cause of the inflation now? — ssu
Governments have been trying to solve socio-economic issues for ages, and they always fail. While not necessarily fixing the problems, the free exchange of goods and ideas has done more to improve the lot of the common man than any attempt by governments. — Tzeentch
I only have a problem when people want to banish it from any public forum. — schopenhauer1
Creating joy is not an obligation. Not creating harms where it didn't have to take place is. — schopenhauer1
It's anti-suffering. — schopenhauer1
Tell that to my fellow senior citizens on fixed incomes. :roll: — jgill
The bill is expected to pass the Senate next month, after the Labor government secured reluctant support from the Australian Greens, which had pushed for a higher target. And it is being hailed as the most significant piece of climate legislation in a decade, while also being criticized for not going far enough.