Libertarians generally don’t understand Fiat Currency, mainly because it requires some form of societal trust.
And Libertarians can’t trust anyone.
Or are you gonna tell me that money printing isn’t related to inflation?
the evidence supports the claim that an increased monetary supply really doesn’t increase inflation, but that isn’t in the story book you base your economic understanding on, just in the peer reviewed Financial Analyst Journal published by the CFA for example.
Libertarians generally don’t understand Fiat Currency
I assure you I understand it more than you think. But besides that, I love how you dodged the point and didn’t really tell me what really “causes” inflation. Because of course if you print money and put it in a vault, that won’t cause inflation. This is the opposite of what I’m saying. Money printing entails making it trickle to the economy. Wanna go all academic on that? I’m all ears. But don’t bullshit a bullshitter.
Let’s never forget the great victory of the fed, who reeeeeeally understand inflation (as opposed to us, plebs)… saying that inflation will be “transitory” for a year in 2020/2021 (Jerome Powell, that Janet Yellen, and all those geniuses), while plebs like me said FUCK NO, it’s gonna be all over us for a long time… and guess who’s right? It’s not your PhDs in the fed. It’s us, those who “generally don’t understand fiat currency”, because they slap the truth in your faces without sugar-coating it.
Except that I explained the mechanism, and you did nothing but say “I’m wrong”, just because you don’t like how it works or how it makes you feel wrong and stupid.
your previous arguments don’t indicate as such, but sure thing, Mr. Kruger
tell me what really “causes” inflation.
the natural accumulation of wealth, along with a number of diverse market mechanisms, primarily on the push side of economics, for example the increase in the price of energy makes everything more expensive, because everything needs energy to be produced/shipped, thus pushing inflation.
what ever the last paragraph was supposed to be, you realize we are back down to 3%~?
and why should I not be condescending to someone talking out of his ass? are you going to stop spewing on about a topic you have no clue about just because you watched some YouTube cartoon and maybe read Atlas Shrugged? imagine if I went up to a farmer telling him about how he just needs to cast some magic because I read Harry Potter, would I not be an ass? so why should I treat you any different from an ass? didn’t spend 3 years of my life learning this stuff to not talk down to someone, telling me to cast rain magic if it’s too dry.
your previous arguments don’t indicate as such, but sure thing, Mr. Kruger
Alright, Mr. Dunning. Ditto. Very productive.
what ever the last paragraph was supposed to be, you realize we are back down to 3%~?
Great job! I guess prices will fall back to where they were 3 years ago… no wait, they won’t, right? I mean, after all this inflation RATE being high, the prices will remain high, and will still increase after this spike, and we’re kissing Jerome Powell’s balls not to hike federal fund rates higher because the economy is so subtle that things can… break? Like we “never seen before”? https://www.reuters.com/markets/europe/bank-england-buy-long-dated-bonds-suspends-gilt-sales-2022-09-28/
I mean, back then with Paul Volcker in the 70s we did like 20% rate hike… and now we can’t even go to 6% without destroying the whole world’s economy.
But hey everyone… don’t worry! we’re back at ~3%!!!
Government debt is at 33 Trillion, and the government is struggling to pay the interest of that debt, leave alone the debt itself…
But hey everyone… don’t worry! we’re back at ~3%!!!
and why should I not be condescending to someone talking out of his ass?
I believe at this point I’ve shown who’s talking out of their ass and using unilateral self-constructed imaginations to justify economic history that can be summarized with “everything politicians are doing is perfect, and greeeeeeeeeed is why I’m miserable”. Excuse me that I don’t give to shits what you think. You have no idea what you’re saying when you think that “3%” means that “everything is OK”. You will remain miserable, and I will laugh more seeing you miserable, because you deserve it, 100%. Every bit of it. You chose those who did it. Enjoy!
tell me you don’t know how economics work, without telling me you don’t know how economics work:
I guess prices will fall back to where they were 3 years ago… no wait, they won’t, right?
we will never see any meaningful deflation, since that’s about as dangerous as Venezuela style runaway inflation. it literally freezes markets, causes massive layoffs that make the covid era look humane, and stops all investment.
3% is a healthy annual level of inflation for any developed economy.
I mean, back then with Paul Volcker in the 70s we did like 20% rate hike… and now we can’t even go to 6% without destroying the whole world’s economy.
the 20% was for a span of a few months during an era of rampant inflation in America because the dollar was overvalued after WW2 and the late 60s-70s saw it come to its actual market value after being artificially driven up by the new industrial demand for gold and the “gold standard” (something I find funny is that Libertarians rave about the gold standard but, then ignore the fact that they just abstract the fiat to the metal, and then tie the value of the money to the new fiat currency), and all of this during a global financial crisis… but that wasn’t covered in the fun libertarian cartoon you watched eh?
Government debt is at 33 Trillion, and the government is struggling to pay the interest of that debt, leave alone the debt itself…
meaningless, completely and utterly meaningless, as long as the government continues to pay the extremely low interest rates on that debt it is a safe way (for overwhelmingly Americans btw) to safely store assets long term, but like all libertarians you will ignore how state financing works because you believe we should live in a world ruled by the free market or some shit like that.
and lastly, your entire post has shown a staggering lack of even any fundamental economic history outside a few fun facts you might find on the bottom of libertarian Snapple caps, this is how economics works, I recommend you look into some macroeconomics.
Libertarians generally don’t understand Fiat Currency, mainly because it requires some form of societal trust.
And Libertarians can’t trust anyone.
the evidence supports the claim that an increased monetary supply really doesn’t increase inflation, but that isn’t in the story book you base your economic understanding on, just in the peer reviewed Financial Analyst Journal published by the CFA for example.
Increased monetary supply is literally one of the largest drivers of inflation. TF you talking about?
I assure you I understand it more than you think. But besides that, I love how you dodged the point and didn’t really tell me what really “causes” inflation. Because of course if you print money and put it in a vault, that won’t cause inflation. This is the opposite of what I’m saying. Money printing entails making it trickle to the economy. Wanna go all academic on that? I’m all ears. But don’t bullshit a bullshitter.
Let’s never forget the great victory of the fed, who reeeeeeally understand inflation (as opposed to us, plebs)… saying that inflation will be “transitory” for a year in 2020/2021 (Jerome Powell, that Janet Yellen, and all those geniuses), while plebs like me said FUCK NO, it’s gonna be all over us for a long time… and guess who’s right? It’s not your PhDs in the fed. It’s us, those who “generally don’t understand fiat currency”, because they slap the truth in your faces without sugar-coating it.
Spare me the condescending bullshit.
Weird that you claim to understand it so well but lack any actual knowledge about the mechanisms.
Except that I explained the mechanism, and you did nothing but say “I’m wrong”, just because you don’t like how it works or how it makes you feel wrong and stupid.
your previous arguments don’t indicate as such, but sure thing, Mr. Kruger
the natural accumulation of wealth, along with a number of diverse market mechanisms, primarily on the push side of economics, for example the increase in the price of energy makes everything more expensive, because everything needs energy to be produced/shipped, thus pushing inflation.
what ever the last paragraph was supposed to be, you realize we are back down to 3%~?
and why should I not be condescending to someone talking out of his ass? are you going to stop spewing on about a topic you have no clue about just because you watched some YouTube cartoon and maybe read Atlas Shrugged? imagine if I went up to a farmer telling him about how he just needs to cast some magic because I read Harry Potter, would I not be an ass? so why should I treat you any different from an ass? didn’t spend 3 years of my life learning this stuff to not talk down to someone, telling me to cast rain magic if it’s too dry.
Alright, Mr. Dunning. Ditto. Very productive.
Great job! I guess prices will fall back to where they were 3 years ago… no wait, they won’t, right? I mean, after all this inflation RATE being high, the prices will remain high, and will still increase after this spike, and we’re kissing Jerome Powell’s balls not to hike federal fund rates higher because the economy is so subtle that things can… break? Like we “never seen before”? https://www.reuters.com/markets/europe/bank-england-buy-long-dated-bonds-suspends-gilt-sales-2022-09-28/
I mean, back then with Paul Volcker in the 70s we did like 20% rate hike… and now we can’t even go to 6% without destroying the whole world’s economy.
But hey everyone… don’t worry! we’re back at ~3%!!!
Government debt is at 33 Trillion, and the government is struggling to pay the interest of that debt, leave alone the debt itself…
But hey everyone… don’t worry! we’re back at ~3%!!!
I believe at this point I’ve shown who’s talking out of their ass and using unilateral self-constructed imaginations to justify economic history that can be summarized with “everything politicians are doing is perfect, and greeeeeeeeeed is why I’m miserable”. Excuse me that I don’t give to shits what you think. You have no idea what you’re saying when you think that “3%” means that “everything is OK”. You will remain miserable, and I will laugh more seeing you miserable, because you deserve it, 100%. Every bit of it. You chose those who did it. Enjoy!
tell me you don’t know how economics work, without telling me you don’t know how economics work:
we will never see any meaningful deflation, since that’s about as dangerous as Venezuela style runaway inflation. it literally freezes markets, causes massive layoffs that make the covid era look humane, and stops all investment. 3% is a healthy annual level of inflation for any developed economy.
the 20% was for a span of a few months during an era of rampant inflation in America because the dollar was overvalued after WW2 and the late 60s-70s saw it come to its actual market value after being artificially driven up by the new industrial demand for gold and the “gold standard” (something I find funny is that Libertarians rave about the gold standard but, then ignore the fact that they just abstract the fiat to the metal, and then tie the value of the money to the new fiat currency), and all of this during a global financial crisis… but that wasn’t covered in the fun libertarian cartoon you watched eh?
meaningless, completely and utterly meaningless, as long as the government continues to pay the extremely low interest rates on that debt it is a safe way (for overwhelmingly Americans btw) to safely store assets long term, but like all libertarians you will ignore how state financing works because you believe we should live in a world ruled by the free market or some shit like that.
and lastly, your entire post has shown a staggering lack of even any fundamental economic history outside a few fun facts you might find on the bottom of libertarian Snapple caps, this is how economics works, I recommend you look into some macroeconomics.