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0 pointsjoe_mamba28d ago0 comments

>Also, a lot of crap in Western countries is caused by tech broligarchs enriching themselves in favor of workers en destroying democracy for tech feudalism.

Not true. The reason my Col is off the charts, salary low and housing unaffordable is due to EU central bank printing too much money leaving us holding the bags, government's zoning laws making housing expensive and them importing millions of immigrants despite record unemployment numbers to put downward pressure on wages and upward pressure on housing. None of this is done by US tech bros, it's all done by EU rulers and elites.

US tech bros is an orthogonal issue that distracts from the core issues.

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hgomersall28d ago

The quantity theory of money is trivially shown to be nonsense just by considering what happens to savings (i.e. nothing). You need to up your analysis if you want to truly understand.

philipallstar28d ago

What happened to savings in Zimbabwe when they printed trillions of dollars? Did that do anything to what those savings would buy?

hgomersall28d ago

Here is a discussion of Zimbabwe more complete that I'm likely to write in a comment on HN: https://billmitchell.org/blog/?p=3773

inigyou28d ago

It is possible that curves are not linear. That is, it is possible that doing 1 of a thing is good, while doing 1000000 of a thing is bad. Your argument is the same as "you say you need water to survive? But what happens if you're trapped in a giant fish tank with no air pocket?" It is not a good argument.

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joe_mambaOP28d ago

You've made accusations but have not brought arguments to support that my take on EU leaders and elites being the ones fucking us, our CoL and purchasing power, is wrong.

And savings absolutely did eventually get obliterated by excessive Covid money printing, what are you on about?

hgomersall28d ago

I've not made any accusations, nor do I think that the elites are not to blame. I said that "money printing" is not the problem here. The reason it's not the problem is because the quantity of money simply reflects savings. By focussing on "money printing", you're missing the actual problems. Arguably, that's the point, since the elite tend to do well when money is considered a scarce commodity.

Sure, spending might cause inflationary effects, but that's orthogonal to quantity (flows not stocks), but then economics is the science of confusing stocks with flows.

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0 pointsjoe_mamba28d ago0 comments

>Also, a lot of crap in Western countries is caused by tech broligarchs enriching themselves in favor of workers en destroying democracy for tech feudalism.

US tech bros is an orthogonal issue that distracts from the core issues.

0 comments

hgomersall28d ago

The quantity theory of money is trivially shown to be nonsense just by considering what happens to savings (i.e. nothing). You need to up your analysis if you want to truly understand.

philipallstar28d ago

What happened to savings in Zimbabwe when they printed trillions of dollars? Did that do anything to what those savings would buy?

hgomersall28d ago

Here is a discussion of Zimbabwe more complete that I'm likely to write in a comment on HN: https://billmitchell.org/blog/?p=3773

inigyou28d ago

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joe_mambaOP28d ago

You've made accusations but have not brought arguments to support that my take on EU leaders and elites being the ones fucking us, our CoL and purchasing power, is wrong.

And savings absolutely did eventually get obliterated by excessive Covid money printing, what are you on about?

hgomersall28d ago

Sure, spending might cause inflationary effects, but that's orthogonal to quantity (flows not stocks), but then economics is the science of confusing stocks with flows.

1 more reply

j / k navigate · click thread line to collapse