- Banned
- #151
'p funny'?This is p funny.
"the guts"
Hahahahahehehe
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'p funny'?This is p funny.
"the guts"
Hahahahahehehe
Perhaps it has escaped your notice: governments are run by humans too.A pure free market might work fine hypothetically, but add the human element, and decisions malleable to fraud and corruption, the whole thing is undermined.
Are you sure?Perhaps it has escaped your notice: governments are run by humans too.
I wondered whether you were self-censoring 'piss'.
How can you have property rights without a state?
but even Goldman's could have tipped over if the overnight interbank lending became frozen as a systemic risk pattern set in. By my layperson's understanding (which is an oxymoron!)Not so. Shareholders and bondholders of Lehmans, Bear etc would have lost everything if the market had its way.
my point was that to let banks fall over could have created that phenomenon and UK/US/Iceland banking goes, then their economies are destroyed overnight.See Austrian Sool
competent regulation would mitigate it no? The firms under regulation have looked to undermine it at every point, and the political system has been a party, so the fraud and corruption moved into that sphere, not just the market.It is undermined by government not by individuals.
Increased government in no way means less fraud and corruption.
http://transparency.org/policy_research/surveys_indices/cpi/2009
Perhaps it has escaped your notice: governments are run by humans too.
well I saw how they failed at all stages with regulation, and were more facilitators of the economic crisis.
but I meant how they had been co-opted, the regulators co-opted.This is the Austrian argument ie governments via central banks hold interest rates lower than they would otherwise be, thus increasing economic growth but also ensuring monetary issues.
All governments will go for higher rather than lower growth even if this means inflation and monetary crises down the track.
This is the Austrian argument ie governments via central banks hold interest rates lower than they would otherwise be, thus increasing economic growth but also ensuring monetary issues.
All governments will go for higher rather than lower growth even if this means inflation and monetary crises down the track.
Mate, after the events of recent months, I think you'll find most Western governments now regard the nutbars of the Austrian school the same they do the flat earthers and the La Rouchians.
Which is unfair to the La Rouchians, as their economic predictions have been more accurate than the Austrians.
Anatole Kalestky is the voice of the Austrian school in the meejya. One of Rupert's bumboys.
Some of Anatole's recent pearls of wisdom, derived using an intense analysis founded on the principles of Von Mises and those other frauds include:
Mate, after the events of recent months, I think you'll find most Western governments now regard the nutbars of the Austrian school the same they do the flat earthers and the La Rouchians.
Which is unfair to the La Rouchians, as their economic predictions have been more accurate than the Austrians.
He has seen the light then.
Schiff was dreadfully wrong on the US dollar
Criticism of Greenspan and Bernanke is now widespread (even quite a few Dems are against Bernanke continuing).
Wrong or as per his housing call simply premature?
The $ has to depreciate against another currency. The UK is barely out of recession and has a huge deficit, the EU is stuffed, Japan is even more stuffed and the Swiss have intervened to stop appreciation and the Chinese wont let the Yuan appreciate.
Still does that refute the basic argument of the Austrian School re central banking?
Is this where Shiff needs some Soros omniscience re: geopolitical factors which will influence timing.Wrong or as per his housing call simply premature?
The $ has to depreciate against another currency. The UK is barely out of recession and has a huge deficit, the EU is stuffed, Japan is even more stuffed and the Swiss have intervened to stop appreciation and the Chinese wont let the Yuan appreciate.
The Austrians M.O. in any mixed economy is to say the sky is falling. One out of ten times they are right, the rest of the time they are dead wrong
Dead wrong about what? When the world moved away from Keynesian witch doctory in the early 80s things got far better.
It got better for bankers though, and they're the only people who matter!Really? The average middle class American has seen their real income fall since then.