Money Supply – Exploding Inflation

[Arraya]

[quote=markmax33]

Arraya,
If I pointed you to an Austrian model that protected from major failures and led the most prosperous country through 200 years of unprecedented growth into the biggest super power ever known would you use that as evidence that model worked or would you just shrug your shoulders and disregard it?
[/quote]

huh? Are you are pointing to this rise of the US as empirical evidence of Austrian economics working?

[quote=markmax33]
If the fed had let the tech bubble burst and didn’t blow up the housing bubble we would have MASSIVE GROWTH BY NOW AND WOULD HAVE EASILY ECLIPSED WHERE WE WERE! Don’t you get it? When you let a sector fail, the people leave and get retrained and the rest of the economy is fine. If you blow up a bigger bubble you crush more people. The next bubble is currency bubble and that destroys everyone.[/quote]

Again, this is a statement based on loose correlations of things that sometimes happen under certain circumstances – that’s it.

If we did not have the housing bubble we have no idea what would have happened. In my estimation if we did not have the bubble and the war we would have been in depression along time ago.

[markmax33]

[quote=Arraya][quote=markmax33][quote=Arraya]It’s a tautology – it goes back to the same conclusion of intervention = makes things worse – without being the slightest empirical.[/quote]

This is the flaw in your argument. There are hundreds of pieces of empirical evidence that prove this. I’ve listed them on the blog and you haven’t looked at one of them because you have blinders on. We will never get anywhere until you are ready to look at and consider empirical evidence.[/quote]

Maybe our definitions of empirical evidence is different.[/quote]

Well I have an Engineering, my father has a PHD in meteorology and my mother has a masters in physics. I was raised in a family of science and numbers. I know empirical data. 775 currencies and history that has repeated itself hundreds of times = valid empirical data. How much data do you need for it to be empirical sir?

[Arraya]

[quote=markmax33][quote=Arraya]
I say it will get much worse and it has zero to do with what the Fed is doing now, or at least very little.[/quote]

The fed loaned $16T and they have no power? How much would they have to print in order to have influence? The GOV only makes $2.5T per year in taxes remember…[/quote]

Who said they don’t have influence? Though, I will say, I think you have it backwards – the Fed does not control the market and market controls the Fed.

I said their “printing” can not be measured in “making things worse”.

[Arraya]

[quote=markmax33]

Well I have an Engineering, my father has a PHD in meteorology and my mother has a masters in physics. I was raised in a family of science and numbers. I know empirical data. 775 currencies and history that has repeated itself hundreds of times = valid empirical data. How much data do you need for it to be empirical sir?[/quote]

And that is the nature of money – collapse and crisis are built into it. How this is evidence that what the Fed is doing is making things worse, I’m not sure? It looks to me like the system will naturally collapse by it’s own inertia and the fed is just there slowing it down. It’s systemic NOT due to a bad policy or organization

[markmax33]

EXACTLY – for most of our early years we didn’t have a central bank. Our rise was directly do to monetary policy.

[quote]
If we did not have the housing bubble we have no idea what would have happened. In my estimation if we did not have the bubble and the war we would have been in depression along time ago.
[/quote]

If the Austrian school of economics was able to predict the housing bubble and there was evidence of that, would you even listen to those guys? If the Austrians predicted the financial bubble, would you even listen to them? How many times do they have to be right before the event occurs to be empirical data? Please give me a number.

[markmax33]

[quote=Arraya][quote=markmax33]

Well I have an Engineering, my father has a PHD in meteorology and my mother has a masters in physics. I was raised in a family of science and numbers. I know empirical data. 775 currencies and history that has repeated itself hundreds of times = valid empirical data. How much data do you need for it to be empirical sir?[/quote]

And that is the nature of money – collapse and crisis are built into it. How this is evidence that what the Fed is doing is making things worse, I’m not sure? It looks to me like the system will naturally collapse by it’s own inertia and the fed is just there slowing it down. It’s systemic NOT due to a bad policy or organization[/quote]

No sir, it is the nature of Keynesian economics.

[Arraya]

[quote=markmax33]EXACTLY – for most of our early years we didn’t have a central bank. Our rise was directly do to monetary policy. [/quote]

Again, extremely loose correlations does not equal a scientific rule. We also had wide open land, abundant with natural resources and a consecutive boom economy(cattle, gold, silver, railroads oil(the US was the saudi arbia of the 40s ). It was the industrial revolution. Making a comparison regarding a central banks positive or negative role in the economy is futile.

[quote=markmax33]
If the Austrian school of economics was able to predict the housing bubble and there was evidence of that, would you even listen to those guys? If the Austrians predicted the financial bubble, would you even listen to them? How many times do they have to be right before the event occurs to be empirical data? Please give me a number.[/quote]

I did not need austrian economics to predict and see the housing bubble.

[briansd1]

[quote=Arraya] I want to see the global economy collapse. [/quote]

I can understand your wanting that.

But how would life be better in the aftermath of a collapse? Can you please explain what an economic collapse would achieve?

[Arraya]

[quote=markmax33]

No sir, it is the nature of Keynesian economics.[/quote]

haha – we’ve had revolutionary bubble collapse way way before Keynes was born going back to the middle ages, at least. Then again, there is all that stuff about debt Jubilees in the bible. So maybe it’s nothing that Keynes invented

[Anonymous]

[quote=briansd1]But how would life be better in the aftermath of a collapse?[/quote]

We would get to carry guns and fight crazies for the last scraps of food and gasoline…we would all cool wear black leather and the women would all be fit and tough and wear tight leather.

[Arraya]

[quote=briansd1][quote=Arraya] I want to see the global economy collapse. [/quote]

I can understand your wanting that.

But how would life be better in the aftermath of a collapse? Can you please explain what an economic collapse would achieve?[/quote]

What is collapsing? A set of arrangements. Not our resource base(though we are doing a good job in certain areas) or technical know-how to take care of human needs. We don’t NEED money to deliver and grow food. We don’t NEED money to cast an arm or make a computer – these are technical processes.

[markmax33]

[quote=Arraya][quote=markmax33]EXACTLY – for most of our early years we didn’t have a central bank. Our rise was directly do to monetary policy. [/quote]

Again, extremely loose correlations does not equal a scientific rule. We also had wide open land, abundant with natural resources and a consecutive boom economy(cattle, gold, silver, railroads oil(the US was the saudi arbia of the 40s ). It was the industrial revolution. Making a comparison regarding a central banks positive or negative role in the economy is futile.

[quote=markmax33]
If the Austrian school of economics was able to predict the housing bubble and there was evidence of that, would you even listen to those guys? If the Austrians predicted the financial bubble, would you even listen to them? How many times do they have to be right before the event occurs to be empirical data? Please give me a number.[/quote]

I did not need austrian economics to predict and see the housing bubble.[/quote]

Not a single Keynesian economist predicted it but ALL of the Austrian economists did. I don’t care about your prediction that appears to be somewhere in the middle. I’m talking about the major schools of philosophy. How many times do the Austrians have to predict things, explain why they are about to happen and then have the exact thing happen they predicted until you will listen to them? Please give me a number!

[Arraya]

[quote=markmax33

Not a single Keynesian economist predicted it but ALL of the Austrian economists did. I don’t care about your prediction that appears to be somewhere in the middle. I’m talking about the major schools of philosophy. How many times do the Austrians have to predict things, explain why they are about to happen and then have the exact thing happen they predicted until you will listen to them? Please give me a number![/quote]

Mainstream economists will never see problems. It’s the nature of economics. They are there to make excuses for the ruling class.

[markmax33]

[quote=Arraya][quote=briansd1][quote=Arraya] I want to see the global economy collapse. [/quote]

I can understand your wanting that.

But how would life be better in the aftermath of a collapse? Can you please explain what an economic collapse would achieve?[/quote]

What is collapsing? A set of arrangements. Not our resource base(though we are doing a good job in certain areas) or technical know-how to take care of human needs. We don’t NEED money to deliver and grow food. We don’t NEED money to cast an arm or make a computer – these are technical processes.[/quote]

No sir! This argument doesn’t make sense! We have empirical data that shows when a currency collapses people are fighting for food and have no resources because the internal resources of the country are all being sold and there is no value for to sell them to the people in the country because the currency is worthless. It has happened hundreds of times! How many data points do you need for proof?

Another horrible side effect is generally the military takes charge and takes everything for themselves. Look around the world it’s happening in 10 countries as we speak. The peoples’ lives are miserable and horrible when the currency collapses.

[markmax33]

[quote=Arraya][quote=markmax33

Not a single Keynesian economist predicted it but ALL of the Austrian economists did. I don’t care about your prediction that appears to be somewhere in the middle. I’m talking about the major schools of philosophy. How many times do the Austrians have to predict things, explain why they are about to happen and then have the exact thing happen they predicted until you will listen to them? Please give me a number![/quote]

Mainstream economists will never see problems. It’s the nature of economics. They are there to make excuses for the ruling class.[/quote]

How many videos of Austrian economist do you want to see that predicted the housing bubble. They are as mainstream as you get. I’ll start digging them up as soon as you give me a number. They also explain WHY it is going to happen.

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