tag:blogger.com,1999:blog-5619404168422539553.post4286308084051734509..comments2022-08-13T10:30:28.650-05:00Comments on Toxins Of Power: The Power That CounterfeitsUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5619404168422539553.post-40611628569204690702010-06-16T07:25:05.770-05:002010-06-16T07:25:05.770-05:00Art,
The controversy rages on, from Yogi Berra...Art,<br /><br />The controversy rages on, from Yogi Berra's cash is as good as money or vice versa to everything in between.<br /><br />Print cash, borrow cash, print money, borrow money, whatever, I am holding to my <a href="http://blogdredd.blogspot.com/2010/02/economists-aliens-from-cygnus.html" rel="nofollow">bubble theory</a>.<br /><br />We print, borrow, and bloviate bubbles. ;)Dreddhttps://www.blogger.com/profile/15673418865926403671noreply@blogger.comtag:blogger.com,1999:blog-5619404168422539553.post-74532097307155440192010-06-16T04:19:36.121-05:002010-06-16T04:19:36.121-05:00Economics and semantics. Q: If they print all that...Economics and semantics. Q: If they print all that money, how come we have all this debt?<br /><br />"Whether one prints way too much money while knowing there is no good reason for it, or why one does it while deceived into thinking there is a good reason for it, ends up doing the same damage anyway."<br /><br />Dredd, they do not "print way too much money." "Print" is the wrong word. "Borrow" is the appropriate word. The reason we cannot solve the economic problem, I think, is that we do not see it clearly. People confuse printing and borrowing. People equate fiat money and credit-money. But clearly, credit-money is much more costly to use!<br /><br />Everybody says <i>they print too much money</i>. I say they don't. I say the Federal Reserve <i>restricts</i> the quantity of money excessively -- which is why nobody has any money these days. <br /><br />And I say Congress tries to stimulate the economy by <i>encouraging the use of credit</i> -- which is why we have so much debt.<br /><br />I dunno, Dredd. Maybe they're all corrupt. But maybe not. Maybe they're trying to do the right thing. (That would be nice, no?) <br /><br />But they are using <a href="http://newarthurianeconomics.blogspot.com/2010/04/policies-of-venn-overlap.html" rel="nofollow">policies that only make things worse</a>. The economy will never improve as long as our policy is to remove money from circulation and encourage credit-use and the accumulation of debt. <br /><br />But they will never stop doing these things until they understand that their policies are wrong.<br /><br />ArtThe Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-5619404168422539553.post-80589019844269228882010-06-15T05:54:42.949-05:002010-06-15T05:54:42.949-05:00The Arthurian,
Noam Chomsky indicates that our ed...The Arthurian,<br /><br />Noam Chomsky indicates that our educational system is a form of indoctrination, which has systemic defects:<br /><br />"<i>And, of course, there are power systems in place to facilitate this. Throughout history it's been mostly the property holders or the educated classes who've tended to support power systems. And that's a large part of what I think education is—it's a form of indoctrination. You have to reconstruct a picture of the world in order to be conducive to the interests and concerns of the educated classes, and this involves a lot of self-deceit</i>." (<a href="http://chomsky.info/debates/20060906.htm" rel="nofollow">Deceit</a>).<br /><br />Whether one prints way too much money while knowing there is no good reason for it, or why one does it while deceived into thinking there is a good reason for it, ends up doing the same damage anyway.<br /><br />Sometimes "incompetence" is a result of propaganda or indoctrination, but sometimes it is self induced. <br /><br />I would agree that toxins of power are not the source of all incompetence; there are multiple sources.<br /><br />Semantics probably muddies the water a bit on this vast subject.Dreddhttps://www.blogger.com/profile/15673418865926403671noreply@blogger.comtag:blogger.com,1999:blog-5619404168422539553.post-13721512182576556562010-06-14T20:24:44.512-05:002010-06-14T20:24:44.512-05:00Dunno, Dredd. My view, our economic problems are n...Dunno, Dredd. My view, our economic problems are not the result of corruption but incompetence... Misunderstanding of economic forces... Bad policy that they think is good.<br /><br />And, for the record, I don't mean excessive spending. I think excessive spending is a <i>result</i> of bad policy -- which is why the debt and deficit problems are insoluble. One cannot solve results.<br /><br />AThe Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.com