Greece's Solution - A Warning to the US

[brxndxn]

Thanks for your brain dead meaningless opinion backed up by nothing but the smoke coming out of your ass.

How the hell is ^this^ any different?

 

[Infohawk]

How the hell is ^this^ any different?

You're supposed to think he's witty and "different."

 

[LegendKiller]

Demand side OR supply side doesn't fucking matter, Moonfuck.

The simple fact is this: Value is created by rarity. The more there is of ANYTHING, including money, the less it's fucking worth. Print enough money and people will start using it for toilet paper.

Enough with the elementary economics. Gold has proven to be a horrible reserve currency for the same reason you love it, inflexibility. Keeping value matters little if you can't buy anything with that value merely because your economy is fucked because of the value.

It's like having cars only run on tracks. Sure, those tracks make sure your car can't veer outside of the lane, but what happens when you MUST veer outside the lane or get into an accident?

Gold's value is derived from the same place as a paper currency's value, psychology. Gold itself has no real value at all, except for some minor industrial uses. Otherwise it is purely psychological bauble-driven stupidity.

Provided PPP is maintained, printing money matters little. In this economy and for the foreseeable future, printing money won't matter much. The reason for this is deflationary offset as well as velocity and demand of the currency. That's not even to mention the relative stability of the US economy, the US government, and the strength of the US military.

Returning the US to an asset backed currency won't solve the fact that the government can, and will, still get itself into debt. It won't solve the fact that the US people can, and will, still get into economic bubbles. It won't solve the fact that the economy can, and will, have problems periodically. However, it will lock us into wild perturbations and gyrations, like we had in the 1800s, because you have no flexibility.

Naturally, Austrian Economics Libertopians think this is all great, but then ignore the fact that the 1800s, or even the early/mid 1900s weren't that great economically speaking, purely from an economic standpoint caused by a gold backed currency.

Comparing the US to greece is idiotic. It doesn't consider the multitude of differences, the least of which is the very fact that Greece has only one major industry, ship building. Otherwise it has no major IP, R&D, or production of goods or services on the world stage. This is utterly contrary to the US, which has all 3 and will continue to have them for the foreseeable future.

 

[Amused]

Enough with the elementary economics. Gold has proven to be a horrible reserve currency for the same reason you love it, inflexibility. Keeping value matters little if you can't buy anything with that value merely because your economy is fucked because of the value.

It's like having cars only run on tracks. Sure, those tracks make sure your car can't veer outside of the lane, but what happens when you MUST veer outside the lane or get into an accident?

Gold's value is derived from the same place as a paper currency's value, psychology. Gold itself has no real value at all, except for some minor industrial uses. Otherwise it is purely psychological bauble-driven stupidity.

Provided PPP is maintained, printing money matters little. In this economy and for the foreseeable future, printing money won't matter much. The reason for this is deflationary offset as well as velocity and demand of the currency. That's not even to mention the relative stability of the US economy, the US government, and the strength of the US military.

Returning the US to an asset backed currency won't solve the fact that the government can, and will, still get itself into debt. It won't solve the fact that the US people can, and will, still get into economic bubbles. It won't solve the fact that the economy can, and will, have problems periodically. However, it will lock us into wild perturbations and gyrations, like we had in the 1800s, because you have no flexibility.

Naturally, Austrian Economics Libertopians think this is all great, but then ignore the fact that the 1800s, or even the early/mid 1900s weren't that great economically speaking, purely from an economic standpoint caused by a gold backed currency.

Comparing the US to greece is idiotic. It doesn't consider the multitude of differences, the least of which is the very fact that Greece has only one major industry, ship building. Otherwise it has no major IP, R&D, or production of goods or services on the world stage. This is utterly contrary to the US, which has all 3 and will continue to have them for the foreseeable future.

Wow... Miss the point much?

I never advocated backed currency. I only pointed out the extreme downside to trying to print your way out of debt.

And Greece is a great example to every country. If you have more people reliant on the government than you have producing in the private sector, you'll fail.

 

[RbSX]

Good, fuck you! I am really really really concerned about my credibility, like what you think of it means shit to me. You suckers who hate yourselves are the ones with that problem. I don't know anything, but it makes me a real pro at spotting the pretentious.

Who said anything about hating myself? You are starting to come off as a vigilante sociopath here.

 

[CycloWizard]

Good, fuck you! I am really really really concerned about my credibility, like what you think of it means shit to me. You suckers who hate yourselves are the ones with that problem. I don't know anything, but it makes me a real pro at spotting the pretentious.

Calm down, Mongo. Do really you think you can make your worldview work if you yell loudly enough and include enough expletives?

 

[Moonbeam]

Who said anything about hating myself? You are starting to come off as a vigilante sociopath here.

I said and you know I'm right. You just don't know that you know, but you have bad dreams and avoid certain things. And did I mention, I don't give a fuck what you think? What's this need to make me feel like a sociopath. Only a sociopath would wish something like that on nice gentle me, you fucking monster.

 

[Moonbeam]

How the hell is ^this^ any different?

This is different because I am factually correct that he provided no facts. Please start thinking.

 

[Moonbeam]

Demand side OR supply side doesn't fucking matter, Moonfuck.

The simple fact is this: Value is created by rarity. The more there is of ANYTHING, including money, the less it's fucking worth. Print enough money and people will start using it for toilet paper.

Value is created by stupidity, the notion that thinks have value. The only thing that's worth shit in the universe is love. You'll figure that out as you die.

 

[Moonbeam]

Calm down, Mongo. Do really you think you can make your worldview work if you yell loudly enough and include enough expletives?

I watch how you do things you massively arrogant ass. Hehehe. I am quit calm. And you know what they say about donkeys and 2 x 4s. And it's Mogogo, not Mongo. Don't take his name in vain.

 

[CycloWizard]

I watch how you do things you massively arrogant ass. Hehehe. I am quit calm. And you know what they say about donkeys and 2 x 4s. And it's Mogogo, not Mongo. Don't take his name in vain.

I didn't expect you to fall so far so fast. I guess you didn't really have that far to fall.

 

[pcgeek11]

What are you buying things with now, dunce.

Hey look some more smoke!

Inflation.

 

[Moonbeam]

I didn't expect you to fall so far so fast. I guess you didn't really have that far to fall.

Don't you think you are rude to people all the time when they don't measure up to what you consider proper scientific education? I would have thought my words to you would be seen as love pats. And I can't fall anywhere because I wasn't anywhere to begin with. Such notions are concepts you have to hate yourself to experience.

 

[Moonbeam]

Hey look some more smoke!

Inflation.

Exactly, inflation. Cokes used to cost a dime and come in glass bottles you could return for 3 cents. You could do a weeks groceries for 5 dollars. Money today is worthless. Jesus.

 

[EXman]

Stick to chemistry. Greece can't print money. It is a totally different situation than the one we are in. Anything is possible if you don't know what you're talking about.

Not a chance Greece is a perfect example of unsustainable government employment. When 1/3 of the workers work for the government the other 2/3rds pay them. Our positive growth in employment is in public sector. We need to move in a different direction...

 

[LegendKiller]

Not a chance Greece is a perfect example of unsustainable government employment. When 1/3 of the workers work for the government the other 2/3rds pay them. Our positive growth in employment is in public sector. We need to move in a different direction...

I get so tired of the same regurgitated BS.


http://calculatedriskimages.blogspot.com/2010/09/government-spending-as-percent-of-gdp.html

http://calculatedriskimages.blogspot.com/2010/09/government-employment-ex-education.html

The vast majority of the current deficit was driven not by government employment, but by wars, tax cuts, and bailouts.

 

[CycloWizard]

Don't you think you are rude to people all the time when they don't measure up to what you consider proper scientific education? I would have thought my words to you would be seen as love pats. And I can't fall anywhere because I wasn't anywhere to begin with. Such notions are concepts you have to hate yourself to experience.

I have no problem with people who have no scientific education. I'm rude to people who aggressively confront me on scientific matters when they are ignorant. But what does that have to do with this topic? You don't seem to have any useful knowledge on this topic, nor was the link you posted anything other than a feel-good piece intended to support your position written by someone who is not an economist. Your idiotic tirades in this thread are simply an effort to divert attention from the failure of your ideology.

 

[JSt0rm]

I have no problem with people who have no scientific education. I'm rude to people who aggressively confront me on scientific matters when they are ignorant.

buhahahaha like running 5 different shitpipes to every apartment and office in Manhattan? Science!

 

[CycloWizard]

buhahahaha like running 5 different shitpipes to every apartment and office in Manhattan? Science!

...said the inbred hilljack to the engineering professor.

 

[Hacp]

I get so tired of the same regurgitated BS.


http://calculatedriskimages.blogspot.com/2010/09/government-spending-as-percent-of-gdp.html

http://calculatedriskimages.blogspot.com/2010/09/government-employment-ex-education.html

The vast majority of the current deficit was driven not by government employment, but by wars, tax cuts, and bailouts.

Huh? Social Security and Medicare make up close to 2/3rds of all government spending. The vast majority of the deficit can be attributed to these programs. Cut them all!

 

[LegendKiller]

Huh? Social Security and Medicare make up close to 2/3rds of all government spending. The vast majority of the deficit can be attributed to these programs. Cut them all!

And what do you propose to do with all of the people who will be destitute and sick?

Do you really think they'll sit by and not revolt?

How long before you separate them into castes and virtual serfs?

Says the guy who lives in his parents basement.

You really have no options, nor did you address the charts, you just added some pseudo-strawman to the mix that you thought would make you look conservative and smart.

 

[Engineer]

Huh? Social Security and Medicare make up close to 2/3rds of all government spending. The vast majority of the deficit can be attributed to these programs. Cut them all!

You do realize that SS ran a surplus up until this year don't you? There is a reason that the government didn't jump too quick to FIX SS. Medicare may be another story though.

 

[Moonbeam]

I have no problem with people who have no scientific education. I'm rude to people who aggressively confront me on scientific matters when they are ignorant. But what does that have to do with this topic? You don't seem to have any useful knowledge on this topic, nor was the link you posted anything other than a feel-good piece intended to support your position written by someone who is not an economist. Your idiotic tirades in this thread are simply an effort to divert attention from the failure of your ideology.

What right do you have to confront such people. Why are you arrogant enough to assume they are ignorant. Since you feel the right to confront the ignorant I confront you for the same reason. I have determined you are ignorant and that entitles me. Therefore, in addition, you know nothing about what is useful and what isn't. The article makes the point that professional economists lean away from supply and toward demand? I have seen that same truth stated many times in many places, sadly for minority backward ignorant you.

 

[Infohawk]

I don't give a shit one way or the other, I got mine, but you so called experts on economics are brain dead.

How do you know? Do you just take the word of the experts that are on your part of the spectrum?

 

[Moonbeam]

How do you know? Do you just take the word of the experts that are on your part of the spectrum?

I just explained that in the post above yours. Learn to read.