Money Supply – Exploding Inflation

[Anonymous]

[quote=markmax33]We have empirical data that shows […][/quote]

Real Austrian economists don’t use empirical data.

[markmax33]

[quote=pri_dk][quote=markmax33]We have empirical data that shows […][/quote]

Real Austrian economists don’t use empirical data.[/quote]

Okay explain that one please. I’m dying to hear it.

[SK in CV]

[quote=markmax33]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. [/quote]

Huh? Sentence anarchy!

[KSMountain]

Arraya,

If you got your global economic collapse, would I still be able to fly in a jet airplane to Europe? Having some nice wine available on the flight would be nice too.

If not – count me out!

[SK in CV]

[quote=markmax33]How many videos of Austrian economist do you want to see that predicted the housing bubble. They are as mainstream as you get.[/quote]

With all due respect markmax, mainstream Austrian economist is an oxymoron.

They are like…i dunno….Ron Paul supporters.

And on a related note…you’ve seen quite a few people here say they like some of Ron Paul’s ideas, but still probably won’t vote for him. Here’s why. (and i stole this analogy from someone, somewhere, and I’d love to credit the genius who thought of it, but I have no idea where I read it.) Ron Paul is like an old fashion watermelon. He’s got some sweet sweet fruit. But you just can’t eat it all without getting a mouth full of seeds. Ron Paul just has way too many seeds.

(I hear there is a new Austrian seedless variety. Hasn’t come to market yet.)

[Anonymous]

[quote=markmax33][quote=pri_dk][quote=markmax33]We have empirical data that shows […][/quote]

Real Austrian economists don’t use empirical data.[/quote]

Okay explain that one please. I’m dying to hear it.[/quote]

http://en.wikipedia.org/wiki/Austrian_economics

Methodology is where Austrian economists differ most significantly from other schools of economic thought. Mainstream schools such as Keynesians and Monetarists adopt empirical, mathematical, and statistical methods, and focus on induction to construct and test theories. Austrian economists reject empirical statistical methods […]

You got a long way to go, my friend.

Perhaps you should start your journey by asking your scientist parents what falsifiable means.

[KSMountain]

[quote=Arraya]We don’t NEED money to cast an arm or make a computer – these are technical processes.[/quote]
A new chip plant costs about $2 Billion. Takes many years to build, has a lot of real estate, power, and specialized gas needs. You need a fully intact supply chain, financial system, and legal infrastructure to make a microchip.

Hope you don’t spill coffee on your computer…

[Anonymous]

[quote=SK in CV][…] mainstream Austrian economist is an oxymoron.[/quote]

It used to be.

Now we have a whole new breed of young Austrian “economists” – and you’ll find all of them on the internet!

[briansd1]

[quote=Arraya] It’s a paradox – if we were not so far in debt we would have a smaller economy. Debt = money[/quote]

Yes, it’s a paradox.

Without debt our economy would be much smaller and our standard of living lower.

Lending money for interest is what capitalism is all about and that spurs economic growth (at least for a certain time frame).

[quote=Arraya]
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]

I can go with that. But I can’t think of anything that would replace money.

And I worry about the transition period which could run many decades.

[briansd1]

[quote=SK in CV]
And on a related note…you’ve seen quite a few people here say they like some of Ron Paul’s ideas, but still probably won’t vote for him. Here’s why. (and i stole this analogy from someone, somewhere, and I’d love to credit the genius who thought of it, but I have no idea where I read it.) Ron Paul is like an old fashion watermelon. He’s got some sweet sweet fruit. But you just can’t eat it all without getting a mouth full of seeds. Ron Paul just has way too many seeds.
[/quote]

When I eat pomegranates, I chew and swallow the seeds. That were the antioxidants are.

I wonder, if Ron Paul, when elected president will legalize drugs and prostitution first. Or will he end the Fed first?

[Arraya]

[quote=KSMountain]Arraya,

If you got your global economic collapse, would I still be able to fly in a jet airplane to Europe? Having some nice wine available on the flight would be nice too.

If not – count me out![/quote]

Whether society goes down over several decades of decay punctuated by interment crises or a few successive catastrophic financial collapses within a few years – it’s going down. We are going to have to reorganize based on new rules or have a severely and increasingly dysfunctional society.

[Arraya]

[quote=briansd1]

I wonder, if Ron Paul, when elected president will legalize drugs and prostitution first. Or will he end the Fed first?[/quote]

Ironically, if RP enacted his policies – global capitalism would collapse in short order.

[KSMountain]

[quote=briansd1][quote=SK in CV]
And on a related note…you’ve seen quite a few people here say they like some of Ron Paul’s ideas, but still probably won’t vote for him. Here’s why. (and i stole this analogy from someone, somewhere, and I’d love to credit the genius who thought of it, but I have no idea where I read it.) Ron Paul is like an old fashion watermelon. He’s got some sweet sweet fruit. But you just can’t eat it all without getting a mouth full of seeds. Ron Paul just has way too many seeds.
[/quote]

When I eat pomegranates, I chew and swallow the seeds. That were the antioxidants are.

I wonder, if Ron Paul, when elected president will legalize drugs and prostitution first. Or will he end the Fed first?[/quote]
None of the above.

I think Ron Paul, were he to be elected, would find change very hard to effect.

If you asked Obama on election night 2008 if he thought Guantanamo and the Patriot Act would be going strong or even stronger 4 years later, I imagine he would sincerely answer that that would be impossible.

The reality is that there are very few large organizations where a single executive has absolute power. Certainly the U.S. government and electorate qualifies as a large organization.

[KSMountain]

[quote=KSMountain][quote=Arraya]We don’t NEED money to cast an arm or make a computer – these are technical processes.[/quote]
A new chip plant costs about $2 Billion. Takes many years to build, has a lot of real estate, power, and specialized gas needs. You need a fully intact supply chain, financial system, and legal infrastructure to make a microchip.

Hope you don’t spill coffee on your computer…[/quote]
Make that $5B.

http://www.businessweek.com/news/2011-02-18/intel-plans-to-build-5-billion-chip-plant-in-arizona.html

You know what it takes to make a computer? Capital. And capitalists. Sorry.

[Anonymous]

Down with capitalism!

– Sent from my iPhone

[Author]

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