K y'all. Want to fix the economy? Start buying what you need to change the world, not what you want. Read my post about saving the world if you don't think I'm bananas already.
Love you all.
And yes, economics is pseudoscience. A smart philosopher named Kuhn would agree.
okay there are over 500 trillion (yes, that's trillion with a t) worth of financial derivatives in existence. these circulate in a 'shadow economy' and basically just represent power. that's a crapload of money to destroy.
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Anonymous2011-03-07 6:07
>>10
they're doing quite well destroying it on their own right now. the only reason they stil exist is because the governments bailed them out with taxpayer's money.
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Anonymous2011-03-08 0:07
>>11
So if there were no bailouts there would be no derivatives trading happening whatsoever right now? Hmm.. sounds legit.
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Anonymous2011-03-08 1:29
The gigantic shit-hole that the dollar is in right now is unimaginable. We as dollar-holders are going to be fucked very soon. History always repeats itself. This time it's going to be a more dramatic recurrence. Get ready for a shit-storm. Get ready to be poor, malnourished, fearing for your life and for the well-being of your loved ones, etc. It's coming soon.
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Anonymous2011-03-08 3:46
we do continually destroy money... we have politicians with the cheque books
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Anonymous2011-03-08 7:23
The bigger problem with inflation isn't the continual devaluation of the dollar but the uneven increase in prices.
Inflation benefits those who can use the dollars first- wall street, banks, government contractors, etc.
The new money increases demand and therefore producers will raise their prices. Those who get the money first can buy goods at the a lower price. Those at the bottom of the food chain must pay for the inflated prices while their income has not adjusted.
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Anonymous2011-03-08 8:37
Economics isn't pseudo-science, if it were then the economy would be a 100% chaotic system, when you go out to buy a loaf you'd accidentally buy a dancing pink frog and receive $10000000 from the cashier. The problem is economics is highly politicized, all these bailouts, excessively low interest rates and wildcat state bank money printing are due to statism and they get away with it because of an elaborate propoganda network that gets democrats to push for keynesianism and republicans to push for corporatism, in reality both the fed and the corporations are 2 cheeks of the same ass.
Realistically though we will never be free of corruption, if we got rid of them we'd just end up replacing them with similar institutions with a different name out of necessity, we benefit from an economy of scale and we need an administration of scale. What we need is extreme evolution, a pragmatic revolution in which corrupt individuals are removed as they would in a revolution while the institutions themselves are not destroyed in some hissy fit but rather totally restructured so that we can have nice things, like direct democracy and complete government and corporate transparency, and those nice things are set in stone such that any attempt to circumvent them is blatant.
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Anonymous2011-03-10 21:14
>>Economics isn't pseudo-science
Prove it.
>>if it were then the economy would be a 100% chaotic system
Prove it isn't.
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Anonymous2011-04-12 15:40
Good thread bump
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Anonymous2011-04-13 9:08
>>17
Maybe I should clarify, economics is partially chaotic and partially pseudo-scientific, there are some things we can't predict and there are corrupt economists who conjur up logical fallacies to justify the actions of their employer, this doesn't mean it's totally defunct, it just means we have to factor in it's limitations.