I know most you are more familiar with Austrian School and I agree with them on 95% of things so I’ll just go with that, truthfully I think Monetarism Chicago School makes more sense, we need a central bank.That said, the solution is free market economics and open mobility of labor and capital.
>>520989403Bump
>>520990484What are your thoughts friend?
>>520989403>AustrianMust be shit lamer version of something german
>>520989403Makes sense, they all advocated borrowing 40 billion dollars whenever possible.
>>520989403>(((we))) need a central bank
>>520990520Too bad Trump is in practice quite statist and interventionist with shit like these 50 year mortgages or the tariffs. Nevertheless much better option than Harris
>>520990671It’s just because Carl Menger was German
All -isms and schools applied to politics and economics are wrong by virtue of the fact that they can and will brush up against what’s expedient eventually. The only thing you need is simply reasoning faculty and instincts, guided by ethics of what’s good and what works. If you adhere to any one school of thought too strictly you will fuck things up because an Austrian cannot identify any one principle of theirs which is always good and always works.
>>520989403how are you so delusional? do you started each day bay chugging a whole bottle of benadryl?
>>520989403now lets here his sisters favorite thieves list
>>520990692I’m yet to hear a good argument of how to get out of a liquidity trap and deflationary spiral without a central bank
>>52099075550 year mortgages are the most free market thing ever, in fact allowing people to negotiate whatever mortgage they want is free market.Capping mortgages at 30 years is statist and cruel
>gets 40bn $$$ because he sucks jew dick>praise lolbertarianism!
>>520989403Based. We need complete unregulated markets and flow of capital and labor (i.e. mass migration). When things start to collapse we just get money from someone else.
>>520990862Delusional because I understand economics??
>>520989403All that big book reading just for the CIA to tell him what to do
>>520990671So i guess it’s true that no one here is left from the ron paul days if you don’t know the austrian school of economics.
>>520990894deflation is only so destructive due to the mass financialization and expansion of credit established by (((central banking)))
>>520990960You realize Milei completely shut off the money printers to kill inflation right?They need the $40bn because the previous government took out massive debts on the assumption they’d just print money to pay them off.Milei had to make a tradeoff. End inflation by ending money creation but then make the country fiscally unable to finance debts without the bailout.There was no option for to magically end inflation instantly while keeping the nation fiscally solvent
>>520990979Mass migration in terms of labor mobility is good thing, the issue comes from the increased crime, cultural breakdown, and lack of assimilation if the people bring in bad ethics and culture
>>520991051you don't. you're equally as high as the keynes faggots.
>>520991059Good, CIA has done some based things. They helped install Pinochet
>>520990671Some economist should decode what he's trying to do because until now his plan seems like common and shitty capitalism to me
>>520991210Genius solution. Mass migration, but just confiscate the culture and behaviors of the immigrants, then paint them white as they arrive. Based.
>>520991112Problem with deflation is it’s easy for the economy to end up in a liquidity trap.Say deflation is around 3% annually, and total spending drops to the point where the equilibrium interest rate needed to encourage borrowing/investment is 1.5%.In an inflationary environment, the real interest rate can simply stop to 1.5% because there’s no constraints for that.If deflation is 3%… then a 3% real interest rate is the lowest possible interest rate, preventing the equilibrium of 1.5% from being reached. Since deflation is 3%, even if nominal interest rates drop to 0%, the real interest rate is still too high to make borrowing worth it. No one will loan money out for a nominal rate of -1%, so 0% becomes the lower nominal price floor.The economy reaches a standstill where borrowing stops, spending stops, loaning stops, and people sit on cash
>>520991226You don’t understand history, politics, science, or economics
>>520991383No the solution is to allow open borders with nations of a similar cultural type and a high quality of average citizens. Open borders with E.U States would be fine, open borders with Singapore and Japan and South Korea would be fine (even though they aren’t culturally similar, they’re low crime and stick to themselves).America did a really dumb move when they arrested those South Korean engineers
>>520990894>hang all jews and rentists >procure a strong National cultural sentiment through racial (ethnostate or ethnic federalism), mono-ideological enforcement>violence monopoly belongs to the State>State officials selection is biased towards those who express most loyalty towards the wellbeing of the Citizenry>voting can only be achieved through something analogous to "cursus honorum" or aristocratic dictatorship
>>520991466Just lend an alternate currency.
>>520991167>lolbertarianism only wins if you kiss the neocon ringLOOOL, cant wait for argentina to send its soldiers to whatever war USA starts. There is no free lunch. Faggot.
>>520989403>just lean into hyper jewish fake and gay ((economics)) even more No
>>520989403Great minds think alike. Von Mises is one of my favorite yield criterions
>>520991112>>520990894Are you speaking currency deflation or price deflation?
>>520991505I understand all of them far better than you. I have a phd in a real science. You spout unprovable bullshit and sniff dead jew farts.
>>520991584Umm, sweaty? Not allowing total migration to all people from all countries is COMMUNIST DICTATORIAL REGULATION. Let. Them. In.
>>520991835i remember sophomore year too. good luck with your exams.
>>520991640Nothing wrong with rent. It allows for efficient use of capital.If I have a business and I want to sell shit in time square, rent allows me to do tha without it buying the entire building upfront
>>520991718So you’d have a bunch of different currencies floating around competing for each other?I’ve heard this argument but I don’t get it. If we were in a deflationary spiral right now I can’t see how another inflationary currency would just pick up
>>520991754Many of us aren’t anti-war
>>520991883No you don’t, and you know nothing about scienceYou have a shitty piece of paper from a non-ivy school at most, you know nothing. You aren’t educated
>>520992073Yeah, i mean it’s not like gold and silver coexisted as currencies for millennia.
>>520991920I wish it were so simple but unfortunantly allowing unlimited poor Somalis will destroy your society
>>520992165ivys are fucking jokes you boomer, they haven't been relevant since all the FDR money dried up
>>520989403how rich are you?you do realize monetarism is merely optimizing for politically-ordained goals and not even for some analytically coherent solution to somewthing?this is why MF had to hypnotize people with rethorics
>>520989403i think if all pure whites decided to kill all non-whites it would only be a matter of time. the world would thanks whites for doing what nobody has done yet, clear out the ones who are too egotistical to be animals and too dumb to be humans
bip bip bip bip...- Damn, what's that noise?... That stupid fuck is just a corrupt puppet, a jewish puppet selling his own people, so fuck him and fuck you.
>>520992176Those two are universally recognized because of their history and they’re both deflationary.I can’t see how an economy would kickstart from a liquidity trap without an inflationary currency.As much as I hate modern Keynesians because they’re always statist interventionists who love bigger government, the conventional Keynesian idea of running a deficit in a deflationary spiral to end the rut… and then cutting the deficit as soon as things kickstart again, did make a lot of sense.The only real issue I have with the idea is that it’s a Pandora’s box
>>520992073What do you think a currency would be in an ancap world? It would either be tulip market nonsense like bitcoins or something privately backed by real assets. A particular currency increasing in value doesn't just halt borrowing. Just lend a currency backed by something that isn't increasing in value so much.
>>520992253Lmaooo yeah what I thought.What is your PHD in???
>>520989403>Here are my favorite Austrian economists>Implements MMT for his countryWhy bother
>>520992255It’s the complete oppose. Monetarism was rejected by the political class because it conflicted with the goals of the political class.Monetarism optimized for the nation at large, not government bureaucrats and politicians
>>520992400If the deflation rate is 3%, why would I ever loan money out for a lower real rate than 3% when I could just hoard cash?
>>520992481He never did that he did literally the opposite
>>520989403>rothbard>mises>friedman>hoppe>randall jews. don't know about the others
>>520992419mechanical engineering. from michigan.
They demanded that I was "reduced"And they activated 19, I just larped once I noticedTo shift the blame for my candidate to mean people in general to save the election instead of myselfBut is obvious she fucked upIt was just paying the man or at least not trying to kill me
>>520992391You are just using nonsensical rhetoric without even understanding foundations or even what the fuck the words you are using even means. Deflation is a result of constricting the supply of currency in circulation. This can be combated by allowing competing currencies to flow in circulation. Historically, this was the case too with gold and silver. Any time more money is saved than is spent, this is deflationary because currency is leaving circulation. The way this has generally been handled is that people save their money in banks, and the banks then lend their savings out, reinterring the money into circulation. The problem occurs when banks begin to restrict lending; this is what leads to the deflationary spiral you speak of. Now, gold is much easier to control the flow of because it has a much smaller supply, so it was easier for banks to restrict the circulation of gold. This is where the competint currency silver was so important because having a much higher supply, it was harder to control…so it helped combat against the restriction of gold circulation.So, how to combat a deflationary spiral? Allow a competing currency in circulation.
>>520992697>MichiganYeah so it’s worthless.If you didn’t go to MIT or one of the Ivys you don’t know engineering.
>>520989403>free market economicsIs another word for corporate collusion and government bribes to allow it. We haven’t had a free market in over 50 years.
>>520989403>"austrian" economics>it's greatest proponents are a gaggle of kikes salivating at the thought of a vibrant free market trade in child sex slavesRighto.
>>520992491"political class" is a completely different set of people now vs thenmonetarism now is how the ruling elite scalp the working because they benefit from insider trading, influence traffic, lobbyig, etctake this scenario >>520992391 about a deflationary trap. The only victums there would be the richSo i hopefully youre one of them else youve been brainwashed to work against your own interests
>>520992901i see why youre in economics, your reading comprehensions is worse than my 6 y/o son
none of you have a better system. All I see itt is cope and seething about da jooz. Try making an actual argument.
>I know most you are more familiar with Austrian School and I agree with them on 95% of things
>>520992898> The way this has generally been handled is that people save their money in banks, and the banks then lend their savings out, reinterring the money into circulation. The problem occurs when banks begin to restrict lending; this is what leads to the deflationary spiral you speak of. Now, gold is much easier to control the flow of because it has a much smaller supply, so it was easier for banks to restrict the circulation of gold. This is where the competint currency silver was so important because having a much higher supply, it was harder to control…so it helped combat against the restriction of gold circulation.You still don’t get it. There’s no incentive to lend money out when the only rate people will be willing to borrow at is a lower real rate than the deflation rate. The deflation rate acts as a price floor for real interest rates, regardless of the currency
>>520993029sounds like a meme but in reality true free market capitalism has never been tried
>>520993180I see why you studied engineering and went to Michigan of all placesYou’re too stupid to make real money
>>520992569The deflation rate of what? There is no state backed currency. If the deflation rate of a particular currency is too high to lend, then lend something else.
>>520991109nah, still around
>>520993454I know what you are saying, but again you are making an analysis after-the-fact without taking into account foundations. I know that you are saying that if nominally the value of a currency increases at a rate higher than a loan rate, then there will be no loans. The control of the supply of a currency is the control over countries.In my view, the control of currency should only be in the hands of the government. And the government issues interest-free loans. Usury would be illegal (in my view, any lending at interest would be illegal).
>>520993717Oh I see what you’re saying, Gresham law only really applies when there is a State mandated currency, in a true free market, gold would be an asset just like any other
>>520993502i work at a FAGMAN. I cleared 400k last year. does that not count as good money?
>>520993936This is similar to Chicago school monetarism but they don’t believe in outlawing usury. The role of government besides private property protection is to issue money at a very slow rate
>>520992683Hayek is a gigajew. His only ideology is "nazis bad"
>>520994006My family’s net income is higher than that, my dad is a GP in private equity. You were too stupid to go the economics route and that’s why you are where you are, and it shows.
>>520994006well it's fake so no, nothing isn't a lot
>>520994132i don't count my father's income as part of my family income. wtf shade of poop are you?
>>520994289This, it’s not even remotely believable given how dumb that guy is But I believe my parents net income is higher than that after bonus so even if his larp is real I still win
>>520994530>don’t count my fathers incomeOh so you’re white trash without an understanding of generational wealthAtomized bugmen, I have bugmen fatigue
>>520994586holy fuck, no one that can operate a web browser can be this stupid, can they?
>>520994062So here’s the thing, the goal is to make the economy “regular”, that is, to create conditions for the economy to flow unhindered. Prices exist not just from the supply and demand of assets, but too from the supply and demand of currency in circulation. Deflationary spirals only exist in theory, and even then only exist when the supply of currency it contingent upon interest-based loans,If the government is the one that issues currency, and is the one that issues loans, and the loans are interest-free…then there is NEVER the conditions for a deflationary spiral, because there will never be an arbitrary restriction of the supply of currency in circulation.Now, this quote being attributed to thomas jefferson is suprious, but the facts of it are still true.>"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
DESTRUYA AL COMPAÑERONO LE PAGUE NO LE AYUDE NO LO REDIMASOLO HAGA LO QUE LA DERECHA QUIEREODIE AL MARXISTA
>>520994662You’re dumber than a box of rocks. Yo embarassed yourself this thread
>>520994915oh look its OP on his phone
>>520994787What you’re suggesting is basically the Keynesian solution, and I’m sympathetic to that. In a deflationary spiral you have the government run deficits via money printing (central bank loans). The only difference between your idea and theirs is they wouldn’t have the government monopolize banking. The central bank would just be the lender of last resort and the issuer of new money via loans
>>520989403Why is the biggest economic success story of the 21st century (China) a socialist country when the US economy is stagnating?
>>520995194
>>520995194>>520995228One of the biggest reasons is the USA sabotaging its own manufacturing with high minimum wage and and regulations.
>>520993936wait, are the one suggesting different currencies? How would interest-free loans not devalue currency? that has to be the most retarded plan. This is basically what every communist state has done, and what has caused them to become an inflationary mess.
>>520995058>and the issuer of new money via loansInterest-free loans, yes. In current monetary theory the supply of currency should increase alongside production increases, therefore stabilizing prices. This is fulfilled by the repayment of loans (if a person can repay, then that means they were able to produce that much).So, the government be the issuer of currency via interest-free loans. This is new money created. The balance of the repaid debts is then for the government coffers. And these MUST be interest-free or else the debt on the loans will always be higher then the amount of currency that even exists!
>>520995194the same thing that happens to every empire...jews. it has nothing to do with the model of government
>>520995194Funny how using the slave-labor of a billion people to sell to the west might bring in some wealth to the upper class there, huh?
>>520995367>One of the biggest reasons is the USA sabotaging its own manufacturing with high minimum wage and and regulations.So does Communist China.>Funny how using the slave-labor of a billion people to sell to the west might bring in some wealth to the upper class there, huh?We have beaner slave labor here, what do you think illegals are?
>>520995375>How would interest-free loans not devalue currency?Because loans can only ever be repaid by increased production within an economy. The supply of currency then is only increased along step with increased production. This allows there to be price stability. Without increasing the supply of currency along with increased production, the currency will begin to increase in value to such a degree that saving money is more profitable than investing it. This is the kind of thing that leads to the deflationary spiral that op decries.
>>520995851second greentext was in reply to >>520995574
Do you think Milei is applying Austrian economics?He is not. He already betrayed everything that the Austrian school of thought says.He is your average GOP politician now. He is the body of the state and he is applying centralized currency controls.Fuck that. This is not free market.I actually tought he could be the one to destroy the old controlled economic system (like he said before getting elected).His diagnostic was 100% spot on but he betrayed his ideals.
>>520990671nigger Austrians make things undeniably better, pic very related
>>520991945Basic yield criteria were introduced in the first year back in my day. I've lived more years since then than I had before it
>>520995851>>520995887>We have beaner slave labor here, what do you think illegals are?Which is making the rich richer and destroying the middle class. What’s your point?
>>520995851>So does Communist ChinaI wouldn't call $1.40 high minimum wage.
>>520991167Is that also why he's begging Trump to buy Argie beef to prop up their 'dying economy', his words, not mine.This is the same shit as Musk invoking Reagan quotes about small government and Rothbard talking about slashing spending while being the biggest welfare queen in the history of mankind.
>>520995877>Because loans can only ever be repaid by increased production within an economy. The supply of currency then is only increased along step with increased production. This allows there to be price stability. Without increasing the supply of currency along with increased production, the currency will begin to increase in value to such a degree that saving money is more profitable than investing it. This is the kind of thing that leads to the deflationary spiral that op decries.You realize that, the injection of money has to occur BEFORE the increase in production, right? This model doesn't account supply and demand issues, inflation is not only a monetary issue, but a value one. Your currency would devalue as natural resources become either scarce or harder to get, it also doesn't take into account imports, which will rely on the value of your currency. The value of money changes over time, not only because of the amount of money available, but the things that this money can buy. The increase in productivity magically happens in your model, it makes no sense.
Libertarians are worse than Communists, change my mind
>>520996262No one ever said to allow an infinite amount of loans. The currency is something to be MANAGED within the ever-changing flux you speak of. Managed for the benefit of the people, not at their expense.
>>520996476yeah, you are talking about free money. Your model would lead only to either economic stagnation, or an inflationary mess. I have seen this meme way too many times already. Interest IS the way in which money is managed. That's the whole point.
>ayn randlol
>>520996250Because he inherited a dead country and he’s trying to resurrect it
>>520995851>>520995367You think deporting illegals will make Americans be paid more than Bezos.You can’t have a country where everyone is an aristocrat
>>520990842Being too idealistic is bad, yes, but the Austrian economic school hasn't been applied here, that's the problem because that's what Milei said he would do and what the few voters that actually understand economic theory wanted. Most people didn't vote this way tough, most people voted opposing the fucking leftards peronists that ruined Argentina with a fresh memory.Between the other idealisms that already failed and this new idealism that hasn't been tried in the country, well, at least there was a chance to taste true unintervened free market. Even ignoring that like most people, at least it was something new to try.We didn't get that.This faggot started manipulating the currency with a new interventionist method that is pure bullshit, the same central bank scam that most countries have but with a new deceit on top of it. The he went straight to kiss Israel and USA asses and now the economy is intervened by the state.This guy was talking about putting a bomb inside the central bank when he started to gain fame. That's what we wanted.He became your average statist.Fuck the state, the root of all evils.
>>520996676Ok, genius. Let’s create a new currency, you and I. I’ll create $100 and loan it to you. Now only $100 dollars even exist and i have loaned you that $100 dollars. And like you said, it has to be loaned at interest, so let’s say 5%. You now owe me $105 after i gave you $100…the only money that exists at this point.Now, pay me back $105. I’d like to see how you’ll do that.
>>520996202>I wouldn't call $1.40 high minimum wage.When food and rent is 10% of what it is here, then yes, that is a fair minimum wage
>>520995472But that’s ok if the amount of interest is higher than money supply because the central bank distributes all profits back to the treasury
>>520997323I didn't say fair, I said high. Minimum wage increases costs to begin with. The reason why food and rent cost more in the United States is because of high pay and regulations.
>>520996181The middle class is the one benefitting not the rich
>>520997461You’re not getting it. Currency that is issued on interest can literally never be repaid. See >>520997044
>>520997044>Ok, genius. Let’s create a new currency, you and I. I’ll create $100 and loan it to you. Now only $100 dollars even exist and i have loaned you that $100 dollars. And like you said, it has to be loaned at interest, so let’s say 5%. You now owe me $105 after i gave you $100…the only money that exists at this point.>Now, pay me back $105. I’d like to see how you’ll do that.I wouldn't ask for your 100, because it's worthless. I can't buy anything with it, because it has no value associated with it. That's why I can't get those $5 that remain, because nobody cares about it. Your loan is worthless.
>>520997512Ah yes, the suppressing of wages and increased supply of labor in the middle class helps the middle class and not the rich. How could i have not seen this earlier?
>>520997044>>520997615>you loan me $100 >I pay 10 workers $10 each to build a lemonade stand and gather a bunch of lemons for me >each day those people then pay me $1 for a glass of lemonade >after 1 week of business I make my first payment to you for $50 >you loan $50 to Richard >Richard pays those same workers $5 each to build a hotdog cart >the workers don't like Richard's hotdogs so he goes out of business >the workers continue to buy my lemonade>I pay off my loan plus interest
>>520997733Ah yes, having workers in third world countries do the $2/job so you can earn $50/hour is so terrible for youI guess you’d be much happier having to do the $2/hour work yourself. Foreign trade is so horrible for skyrocketing your wage
>>520998490>you loan $50 to Richard Oh, so you need me to loan more money for you to be able to pay back the interest. How will richard pay his back?
>>520997044>I pay you $5 in interest>you deposit that in treasury>treasury spends that $5 back to me>I use the $5 to pay another $5 in interest on the loan>etcThe loan doesn’t ever have to be repaid, the interest just gets continuously serviced
>>520998670You owe back $105. Pay that with the only $100 that exists.
>>520998619Richard's hotdog stand went bankrupt, can't you read?
>>520989403Libertarianism is a lot like communism, an interesting thought experiment tbat should never be taken to its logical conclusion. Its also an ideology trap for goys.
>>520991112Deflation is natural and creates abundance with advancments in tehnology. Economic pseudoscience propagandists can fuck off. Jeff booth is right.
>>520998822this doesn't make sense at all, because the example presupposes that this money has value. We didn't address this before because, we assumed that there already was more money in circulation, which means that people do ascribe value to this currency. In your retarded example, your $100 has no value at all. It can't buy anything.
>>520998902Not quite. While I don't think anarchocapitalism would actually work, it's at least logically consistent. When you read guys like Mises or David Friedman, they lay out good arguments for it. Communism is just nonsense.
>>520991466>bunch of usles economic giberish>If you have deflation 2% poeple will sit on cash and eat air.
>>520990894Actual Austrian here. Why do you even think deflation is bad? >people will delay purchases and investmentThis is the only argument i hear. No, people will not delay buying food obviously. And they will buy/invest when the price hit a level that they feel is worth not to wait any longer for. In a deflationary system time works for people not the other way around. Rich? Get the new iphone first. Poor? Get the new iphone last. An Inflationary systemRewards greed (sooner is cheaper), a deflationary one rewards patience (last is cheaper). This way resources are also more efficiently allocated: For those that can produce more surplus value with the same resources it makes sense to buy sooner. And no, no central bank needed either. Multiple currencies with different backings would work. The government should print its own, this way they can deflate or inflate however they want. But the people are free to trade with whatever currency they wish. Companies can make their own. Its akin to trading shares. In the digital age managing multiple currencies is no issue.
>>520990894Letting bad investments go bad is a good thing. Goods and services getting cheaper is a good thing. This is how opportunities are created and wealth stops being so concentrated in the hands of the few.
>>520990671It's another word for jewish. The Austrian and Chicago schools are nearly entirely jewish. It's the other side of the horseshoe of jewish control, the other being communism. The Chicago school allows a nepotistic tribe that controls the money to completely dominate a society.
>>520989403nigga /pol/ doesn't know shit about economics it's all about how they "feel"
>>520999127Anarhocapitalism would work if taken to extreme. 98% anarhocapitalism is dystopia. 100% is defacto anarhist direct democracy utopia.Libertarians that want central bank of any kind are just jews. There is also nothing logical about Special privileges for coorporations and even more special privileges for Banks as entities. It is insane that those entities have more rights than poeple.
>>520989403Better regulation, better informed regulators
>>520990894By printing money like a monkey and giving it to "worthy ones" like elom and that AI jew. Weeee free market
>>520999756Economics is a pseudoscience fellings have some base in reality economics doesnt.
>>520991466Why would you need interest in a deflationary system? The fact that currency by itself is useless and cannot be eaten will pressure people to spend it. You cannot live inside your money, you cannot drive it. The utility of currency (zero) vs the utility of the thing to buy with will reach an equilibrium over time eventually (differently for each individual). Just the pressure of someone getting what you want first will encourage spending. Loaning: people who can tap efficiency potentials (solve more problems with less energy) will be loaned, instead those who have the most credit or pay the most interest. Liquidity is not an issue with an infinitely fractalizeable currency (easy with digital currency). They just get loaned less and less but can buy the same over time cereris paribus.
>>520992073The thing thats the currencies are backed with compete against each other. >wow i just invented something >everyone needs it>i can produce it with my company>but i need currency to buy the stuff for>make own currency as company>people trade theirs because they think the backing of mine is better because i can solve more problems with mine>use that to buy stuff needed to produce
>>520999896>100% is defacto anarhist direct democracy utopia Maybe but it's only utopia if you subscribe to Austrian value system.
>>520989403I got a wild economic policy for ya: a good and stable society is not defined by economics but rather goodness and stability. its fucking crazy, I know, how fucking absurd is it to say that a diseased society wont be fixed by any given economic change?!?
>>520997044Haven‘t read the thread buy you realize this is exactly how the current system works, right?
>>521000927I do, yes.
>>520992210>I wish it were so simple but unfortunantly allowing unlimited poor Somalis will destroy your societyI think what these fuckwit strawman arguments ignore is that those free flow of labor ideas don't come from the same people that would support a colossal welfare state to feed 2 legged locusts from across the globe.Though you'll likely find most of the detractors are just gibs-niggers themselves and just want white's only nanny state to care for them and remove responsibility from their lives.
>>520989403I don't know much about the Austrian School. But one of the smart Bitcoiners in his book The Bitcoin Standard, was completely an Austrian Economics supporter and tore into Keynesian Economics. The excerpts from Mises, Hayek etc. mentioned in the footnotes were great and these people certsinly seemed smarter and more moral than whatever keynes (surely kiked) was sputtering. I studied in a college that had Economics in its name, and it shames me that i don't know more about the subject that the basic i git from just 1 bitcoin book.
-- Austrian economicsEconomics created by a group of philosophers. They cling to "first principles" and extrapolate an ideology out from that, which is the direct reverse of a scientific process. Conclusions rest heavily on intuition. -- Keynsian economicsEconomics from a stock trader's perspective. Watching lines and patterns, finding correlations. They are scientific and rigorous, but can be compared to the audience member of a NASCAR event who can judge patterns and momentum but doesn't know how a car works. You can outclass both these thinking styles with some basic redpills about genetics and human behavior.
>>521001060I asked my econ prof where the money for the interest comes from when we learned about money creation in university. He looked at me silently for a solid 6,7 seconds then continued the lesson. I still don‘t know what to make of it
>>520999896that relies on the premise that given the opportunity people will choose based on merit, with the further stipulation that people dont currently have that opportunity and removing government interference will produce said opportunity. The problem with that there isnt a country in the west where that opportunity isnt present currently, everyone has the opportunity to not give x corporation their money. Will our currented governments bail out those corporations? yea but only so far. if, for instance, everyone stopped eating mcdonalds there is no government on this earth that would artificially sustain a corporation with zero revenue. But, the vast majority of people have developed a warped set of values, or maybe it was always the case and its just more obvious now, I subscribe to the latter: that the majority of any given population have always and will always put themselves at the mercy of governments, and we must be honest here: corporations are just an abstraction of what a government is, if not in truth then in practice. most people always defer to "whomever is in charge", merit be damned. Therefor the only way a system which necessarily relies upon merit will be in any way sustainable as a meritorious entity is if that merit is guaranteed to come from the top, or rather only the unmeritorious are entirely prevented from rising to a position of power.And that is something that no one has ever been able to produce a viable solution for. No great king has figured out how to ensure that the next asshole doesnt ruin the kingdom he built. And any kingdom that was built which relied on the next asshole not being an asshole exists only in the history books, some destroyed by the subsequent assholes and some destroyed during the process of that great leader attempting to build such a system.
>>521002051I asked a stupid question to eco prof. in class too "what happens if a transport plane full of gold reserves of a lot of countries crashes into the ocean, and it is more expensive to retrieve the gold than the price of all that gold"
>>521002051It means that if new money is not constantly being made then the economy essentially defaults. Here’s something to keep in mind: unless there is a natural disaster, famine or war, there should NEVER be widespread economic depression without massive misallocation of capital.
>>521002716But consider that a significant amount of the money is invested in government bonds. That money is then given to government employees, who spend it in the economy. While the banks charge interest on money, the government charges interest to the banks. So it all works out.
>>521002051Learn to think
>>520998822I don’t need to pay back the whole $105, I just need to pay back $5 every year
>>520990894Neither exist.
>>520989403I wish we applied our own economic models.
>>520999553Deflation is bad if it leads to a liquidity trap. People will sit on cash if the expected value of investments becomes negative.Real interest rates can’t go negative, otherwise things stop working.
>>521000227There will be some spending obviously but enough will dry up to cause a permanent shortage of economic activity that otherwise would occur if not for a deflationary system
>>521003423>Deflation is bad if it leads to a liquidity trap. People will sit on cash if the expected value of investments becomes negative.So what? This is theoretical, it has never happened.>Oh no, people who are smart and save their money get rewarded! Everyone's cash should immediately burn a hole in their pocket!
>>521003499The economy is based on production, not spending, you cretin.
>>521003271>the government charges interest to the banksHow the fuck did you come up with this?
>>521003520It did happen it’s called the Great Depression and it’s a disaster
>>520996951>at least there was a chance to taste true unintervened free market.this is never existed, nor exist, and I never expected to exist, truly yours are delusional as fuck.
>>521003578Hey stupid, when people save money, conventionally the banks channel that money into investment. The savings get turned into capital production.You’re stupid and don’t understand economics. Spending on dumb shit doesn’t grow the economy
>>520993809Jewish bowl is empty. Big surprise there.
>>521003928>Hey stupid, when people save money, conventionally the banks channel that money into investment. The savings get turned into capital production.This is my point, not yours. You were saying the opposite.?????
>>521003869>It did happen it’s called the Great Depression and it’s a disasterbait
>>520999684Turn it into ethno-libertarianism and it removes the key flaw.
>>521004204That’s literally my point, you’re arguing that sitting on cash and not investing is better You think spending money or sitting on cash drives the economy and somehow investing is bad
>>521004204>you were saying the oppositeOk I realize you’re ragebaiting now.Fuck off
>>521005243>start reading thread as someone sympathetic libertarian >Finish thread realizing this is the most retard political philosophy around and i get why everyone on both sides makes fun of it now kek
>>520990894Where the fuck did you hear that having one prevents this? Japan has been dealing with it for 30 years. Central banks exist to solve a narrow set of problems under a narrow set of environmental assumptions. When that narrow band breaks down they stop having any affect.
>>520994132kekYou need your daddies income just like your President! ROFLMAO How pathetic!
>>520999127Libertarianism rests upon the idea of everyone being rational exonomic actors, white, and not violating the NAP. It could only work in a high trust, high moral white society, if it could work at all.
>>521002716> It means that if new money is not constantly being made then the economy essentially defaultsI hope you see how fucking retarded this system is. The economy should default when no more work is being done. But there is always work to be done. Lawns need to be mowed, people want to eat, constant maintenance needs to be done. Especially in a natural desaster it shouldn’t default - and it shouldn’t, because there is a hell lot of work to be done in these situations. Easy to pay helpers when the money i earned from mowing one(1) lawn at fifteen years old can buy multiple monthly salaries 70 years later, i just had to save it. Sounds absurd? Imagine putting the equivalent of 20 dollars into the s&p 500 70 years go. Extrapolating from growth excluding money crises (system made) this would be a 16.000$ dollars equivalent today, assuming 10% growth (the numbers is close to historical average, but ultimately it is impossible to tell what the actualy return would be in a deflationary system, but plausible ceterus paribus)
>>521005611The most retarded political philosophy is nationalism (anti-immigrant ideologies)You get mocked and laughed at by literally everyone. We libertarians literally make amends with communists to mock racists and nationalists lol
>>521005627Japan did solve it with Abenomics
>>520995909"Ancap government" or "ancap president" or "voting for ancap" is absurd by definition, and nobody except a scam artist could utter these phrases with straight face.Yet here we are, in a timeline where retards educated by twitter memes and possibly some tiktok dances voted for such (((ancap))) and now complain that they didn't get what wanted...P.S. Psst, hey, wanna buy some dry water?
>>521005203>That’s literally my point, you’re arguing that sitting on cash and not investing is better>>521005243>ragebaitingAm I even talking to a person? Is this some kind chagpt shit that doesn't even remember the last post?
>>521006046Your libertarianism last for exactly as long as the population is 99% white.
>>521003423This Institutionalised thinking against all practicality. Again, currency exists to buy things. Eventually your subjective worth of some money you own is less than the thing you desire. You will spend your money.>>521003499Most of the current economic activity is basically a number game with no real value added anyway. Nothing should dry up as long as people have problems and other people can solve them (work). People will can always work. Liquidity is easily solveable if your currency is infinitely fractionaliseable or you can just make your own currency
Look at me like you understand the situationOne minute am chasing the devil on the internet the next am hearing all this crap about killing this white woman and this africanamerican You get that I knew he just wanted to kill them, I didn't knew how or what he could do, I just knew he was mad and in 4chan hating on being cucked
>>521006183You are proof Swedish education is in the toilet>>521006194I don’t care about your retarded bait.What builds an economy is savings that get channelled into productive investments via the financial system. Increasing output/capita is what raises wages.I know you’re a troll but this is for anyone reading
>>521006046Oh, so this IS all just a massive troll or you’re just a retarded teenager. Yeah let’s just throw out the most effective political system in all of history, the nation-state.
>>520989403>free market economics and open mobility of labor and capitalAnd then he'll beg shit and piss himself for bailouts and subsidies instead of letting shit properly collapse so new industry can come up like a proper free market. All of these faggots are cowardly larpers.
>>521006473I too can look up the textbook definition of capitalism. Anon >>520991945 was pretty much spot on about you retards.
>speak to shlomoI'm good. Happy hanukah though.
>>521006511>effective political system>nationalismRagebait or 14 year old.Educated people universally laugh at you. I used to be a nationalist and edgy and wanted a white EthnostateThen I turned 14
>>521006384Interesting point actually I’ll have to think about this more
>>521006855Name me one single multi-ethnic society in all of history that ever survived and thrived.
>>520989403Those economist taught him how to beg for money and get 40 billion dollars from the american tax payers? Sounds like an effective economic model
>>521007223Ah yes saving his nation and his people… totally not effective
>>521006901Welcome bro. It’s counterintuitive at first, due to how we do things and what we learn - but then very intuitive when it clicks
>>520989403i bet his actuall list of favourite economists is just some bunch of rabbies
>>521007863You should learn about Mises insitute
>>521008383I have known about them for 10+ years. Never bothered to delve deeper. Afaik there is a think tank in Austria. Maybe i‘ll join - If i am being an idiot they should tell me. Thanks for the recommendation, forgot about them
>>521008383Captcha says it all - thats a sign. Bless you brother
>>521006384Hopefully Bitcoin will take away a lot of the fake value from the financial instruments and lock it in just pure HODL. Going by some smarter bitcoiners' posts and blogs, Satoshi has followed Austrian Economics, or at least most of these smart bitcoiners do, and will eventually destroy the kike banking and finance scam.
>>521008605There is a website for the Mises Institute and all the books/publications are on it
Based
>>521008788A friend showed me the whitepaper in 2009. in retrospect he was surely a 4chin oldfag. Anyway bitcoin solves the problem of fractionalisation very well. It’s a good start, but it is only backed by the energy spent thus far to calculate the sha256‘s for the blockchain. I dont think it‘s the final solution (pun not intended) but i am speculating (pun intended)
