economic absurdities...

[amdx]

On 12/25/2021 12:34 AM, whit3rd wrote:

On Friday, December 24, 2021 at 7:16:17 AM UTC-8, amdx wrote:
On 12/23/2021 1:08 PM, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.
Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.
Huh? Bonds at low interest for 50 years would have looked good to
investors WHEN, exactly? Bonds don\'t issue until someone buys in, you know.

While I\'m 66 and can\'t see any reason to buy a bond, with rates so low
and with the prospect interest rate increases ahead.

It just doesn\'t look good. But government backed bonds are bought all
the time. The government is issuing iBonds at 7.12%

as we speak. The problem is you can\'t but very much. It would have been
smarter to issue 50 year 3% bonds, when the time was right.

Probably not now.

                         Mikek


--
This email has been checked for viruses by Avast antivirus software.
https://www.avast.com/antivirus

 

[server]

On Fri, 24 Dec 2021 22:22:22 -0800 (PST), whit3rd <whit3rd@gmail.com>
wrote:

On Friday, December 24, 2021 at 6:01:23 AM UTC-8, jla...@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 00:18:01 -0800 (PST), whit3rd <whi...@gmail.com
wrote:

The worst of past economic upheavals were the ones handled by
laissez-faire principles; that\'s what \'nobody in charge\' means,
and it\'s a known way to fail.

Some modest rules-of-the-game are stabilizing. Government regulator
economists buying and selling trillions in assets, forcing interest
rates, playing at being the superstars of civilization, are
destabilizing.

Does \'destabilizing\' mean bad? The massive WWII spending and
the subsequent 50s-era boom were the end of the great depression.
Stability would have just continued the depression.

When has a \'regulator economist\' ever bought trillions in assets?

Poseurs in power are a problem, of course; I thought you liked
those, though, from your comments on the Donald.

He\'s a creep and I certainly don\'t like him. But he had common sense
and did a lot of good stuff. Operation Warp Speed saved a lot of
lives. Tax cuts created a lot of jobs. Build A Wall makes sense and
also saves lives.

He disliked the look of a mask... that\'s how image-conscious
and consequence-oblivious poseurs act.

Well, cloth masks are silly. And lockdowns probably made things worse.

Cuomo didn\'t save lives.

Policy and actions are too important to get worked up over who you
like or don\'t like. Think.



--

I yam what I yam - Popeye

 

[server]

On Sat, 25 Dec 2021 02:37:53 -0500, bitrex <user@example.net> wrote:

On 12/24/2021 11:17 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.




Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.

No, inflation will do.




Economists can\'t agree on why large amounts of debt is bad in the first
place, other than that it could cause a panic or destabilize the economy.

But also economist John Stuart Mills wrote:

\"Panics do not destroy capital; they merely reveal the extent to which
it has been previously destroyed by its betrayal into hopelessly
unproductive works.\"

Inflation is believed to be related to aggregate spending and what it\'s
spent on, not government spending in isolation, and the aggregate
spending of America\'s wealthiest corporations and its wealthiest
citizens in large part tends to be hopelessly unproductive speculatory
wanking, and the aggregate spending of the US government tends to be in
large part hopelessly unproductive assessment of military hardware and
regular doomed foreign adventures to give it a reason for existing.

The really big \"wealth\" is just stock shares and isn\'t often spent;
just theoretical stuff in a ledger somewhere. Unspent \"wealth\" does
not compete for buying stuff so doesn\'t hurt normal people.

Most government spending nowadays is frankly counter-productive. The
costs and damages are largely non-military, domestic.



--

I yam what I yam - Popeye

 

[server]

On Fri, 24 Dec 2021 09:16:09 -0600, amdx <amdx@knology.net> wrote:

On 12/23/2021 1:08 PM, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.

Mikek

Smart economists would correctly predict the future. But they can\'t.



--

I yam what I yam - Popeye

 

[bitrex]

On 12/25/2021 9:30 AM, jlarkin@highlandsniptechnology.com wrote:

On Sat, 25 Dec 2021 02:37:53 -0500, bitrex <user@example.net> wrote:

On 12/24/2021 11:17 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.




Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.

No, inflation will do.




Economists can\'t agree on why large amounts of debt is bad in the first
place, other than that it could cause a panic or destabilize the economy.

But also economist John Stuart Mills wrote:

\"Panics do not destroy capital; they merely reveal the extent to which
it has been previously destroyed by its betrayal into hopelessly
unproductive works.\"

Inflation is believed to be related to aggregate spending and what it\'s
spent on, not government spending in isolation, and the aggregate
spending of America\'s wealthiest corporations and its wealthiest
citizens in large part tends to be hopelessly unproductive speculatory
wanking, and the aggregate spending of the US government tends to be in
large part hopelessly unproductive assessment of military hardware and
regular doomed foreign adventures to give it a reason for existing.

The really big \"wealth\" is just stock shares and isn\'t often spent;
just theoretical stuff in a ledger somewhere. Unspent \"wealth\" does
not compete for buying stuff so doesn\'t hurt normal people.

If that\'s money that was simply transferred from the government printing
press to citizens to spend on stuff like health \"insurance\" and rent
payments and rate hikes in the same telephone and Internet service
they\'ve always had that eventually ends up in the speculative
investments of some billionaire somewhere that\'s non self-liquidating
debt and is inflationary, it\'s not the same as taking on federal debt to
invest in small businesses development or say funding in-home caregiving
for people who care for ill relatives freeing up their time to invest in
more productive works, which are in theory self-liquidating types of debt.

Landlording is a particularly unproductive type of economic activity and
as you know any Real Communist tends hold the practice in a particularly
high level of contempt, how little-c communist Joe Biden feels about it
I\'m unsure.

Most government spending nowadays is frankly counter-productive. The
costs and damages are largely non-military, domestic.

With as large a negative trade balance as the US has they don\'t have
much choice.

 

[bitrex]

On 12/25/2021 1:33 PM, bitrex wrote:

On 12/25/2021 9:30 AM, jlarkin@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 02:37:53 -0500, bitrex <user@example.net> wrote:

On 12/24/2021 11:17 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John
Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/


This mess reinforces my contention that nobody should be in
charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce


Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU,
is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he
disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.




Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years,
your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to
rob them by war.

No, inflation will do.




Economists can\'t agree on why large amounts of debt is bad in the first
place, other than that it could cause a panic or destabilize the
economy.

But also economist John Stuart Mills wrote:

\"Panics do not destroy capital; they merely reveal the extent to which
it has been previously destroyed by its betrayal into hopelessly
unproductive works.\"

Inflation is believed to be related to aggregate spending and what it\'s
spent on, not government spending in isolation, and the aggregate
spending of America\'s wealthiest corporations and its wealthiest
citizens in large part tends to be hopelessly unproductive speculatory
wanking, and the aggregate spending of the US government tends to be in
large part hopelessly unproductive assessment of military hardware and
regular doomed foreign adventures to give it a reason for existing.

The really big \"wealth\" is just stock shares and isn\'t often spent;
just theoretical stuff in a ledger somewhere. Unspent \"wealth\" does
not compete for buying stuff so doesn\'t hurt normal people.

If that\'s money that was simply transferred from the government printing
press to citizens to spend on stuff like health \"insurance\" and rent
payments and rate hikes in the same telephone and Internet service
they\'ve always had that eventually ends up in the speculative
investments of some billionaire somewhere that\'s non self-liquidating
debt and is inflationary, it\'s not the same as taking on federal debt to
invest in small businesses development or say funding in-home caregiving
for people who care for ill relatives freeing up their time to invest in
more productive works, which are in theory self-liquidating types of debt.

Landlording is a particularly unproductive type of economic activity and
as you know any Real Communist tends hold the practice in a particularly
high level of contempt, how little-c communist Joe Biden feels about it
I\'m unsure.

Incidentally I do know why some tend to confuse the Democrats with
communists as they do love a state-sponsored enterprise, like where else
are they going to extract their own rent from.

 

[bitrex]

On 12/25/2021 9:32 AM, jlarkin@highlandsniptechnology.com wrote:

On Fri, 24 Dec 2021 09:16:09 -0600, amdx <amdx@knology.net> wrote:

On 12/23/2021 1:08 PM, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.

Mikek

Smart economists would correctly predict the future. But they can\'t.

Smart economists often aren\'t in the business of predicting the future
as a whole anyway, the one I know is in the business of writing
math-heavy papers with conclusions that might help one particular type
of business in one particular industry be more productive/make more
profit than they are currently with the tools they already have, if
anyone bothered to read the papers or believe the conclusions. He sees
himself more as being in the field of mathematical optimization than
fortune-telling.

 

[server]

On Sat, 25 Dec 2021 13:33:48 -0500, bitrex <user@example.net> wrote:

On 12/25/2021 9:30 AM, jlarkin@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 02:37:53 -0500, bitrex <user@example.net> wrote:

On 12/24/2021 11:17 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.




Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.

No, inflation will do.




Economists can\'t agree on why large amounts of debt is bad in the first
place, other than that it could cause a panic or destabilize the economy.

But also economist John Stuart Mills wrote:

\"Panics do not destroy capital; they merely reveal the extent to which
it has been previously destroyed by its betrayal into hopelessly
unproductive works.\"

Inflation is believed to be related to aggregate spending and what it\'s
spent on, not government spending in isolation, and the aggregate
spending of America\'s wealthiest corporations and its wealthiest
citizens in large part tends to be hopelessly unproductive speculatory
wanking, and the aggregate spending of the US government tends to be in
large part hopelessly unproductive assessment of military hardware and
regular doomed foreign adventures to give it a reason for existing.

The really big \"wealth\" is just stock shares and isn\'t often spent;
just theoretical stuff in a ledger somewhere. Unspent \"wealth\" does
not compete for buying stuff so doesn\'t hurt normal people.

If that\'s money that was simply transferred from the government printing
press to citizens to spend on stuff like health \"insurance\" and rent
payments and rate hikes in the same telephone and Internet service
they\'ve always had that eventually ends up in the speculative
investments of some billionaire somewhere that\'s non self-liquidating
debt and is inflationary, it\'s not the same as taking on federal debt to
invest in small businesses development or say funding in-home caregiving
for people who care for ill relatives freeing up their time to invest in
more productive works, which are in theory self-liquidating types of debt.

The best thing that government can do for small businesses is to do
less. It\'s amusing all the concessions states give to compete for
big-name car assemblers, to get a few thousand jobs. Why don\'t they
give similar concessions to all businesses?

Landlording is a particularly unproductive type of economic activity and
as you know any Real Communist tends hold the practice in a particularly
high level of contempt, how little-c communist Joe Biden feels about it
I\'m unsure.

Landlords are being driven out of business here. Fine, we don\'t need
renters. Buy a condo or sleep in a tent.

I\'ve seen (and slept in) Real Communist housing. I wasn\'t impressed.

Most government spending nowadays is frankly counter-productive. The
costs and damages are largely non-military, domestic.

With as large a negative trade balance as the US has they don\'t have
much choice.

Pass a lot of business taxes and regulations and expenses and suck up
to the unions, and see what happens. Imports.





--

I yam what I yam - Popeye

 

[server]

On Sat, 25 Dec 2021 13:40:10 -0500, bitrex <user@example.net> wrote:

On 12/25/2021 1:33 PM, bitrex wrote:
On 12/25/2021 9:30 AM, jlarkin@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 02:37:53 -0500, bitrex <user@example.net> wrote:

On 12/24/2021 11:17 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John
Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/


This mess reinforces my contention that nobody should be in
charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce


Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU,
is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he
disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.




Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years,
your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to
rob them by war.

No, inflation will do.




Economists can\'t agree on why large amounts of debt is bad in the first
place, other than that it could cause a panic or destabilize the
economy.

But also economist John Stuart Mills wrote:

\"Panics do not destroy capital; they merely reveal the extent to which
it has been previously destroyed by its betrayal into hopelessly
unproductive works.\"

Inflation is believed to be related to aggregate spending and what it\'s
spent on, not government spending in isolation, and the aggregate
spending of America\'s wealthiest corporations and its wealthiest
citizens in large part tends to be hopelessly unproductive speculatory
wanking, and the aggregate spending of the US government tends to be in
large part hopelessly unproductive assessment of military hardware and
regular doomed foreign adventures to give it a reason for existing.

The really big \"wealth\" is just stock shares and isn\'t often spent;
just theoretical stuff in a ledger somewhere. Unspent \"wealth\" does
not compete for buying stuff so doesn\'t hurt normal people.

If that\'s money that was simply transferred from the government printing
press to citizens to spend on stuff like health \"insurance\" and rent
payments and rate hikes in the same telephone and Internet service
they\'ve always had that eventually ends up in the speculative
investments of some billionaire somewhere that\'s non self-liquidating
debt and is inflationary, it\'s not the same as taking on federal debt to
invest in small businesses development or say funding in-home caregiving
for people who care for ill relatives freeing up their time to invest in
more productive works, which are in theory self-liquidating types of debt.

Landlording is a particularly unproductive type of economic activity and
as you know any Real Communist tends hold the practice in a particularly
high level of contempt, how little-c communist Joe Biden feels about it
I\'m unsure.

Incidentally I do know why some tend to confuse the Democrats with
communists as they do love a state-sponsored enterprise, like where else
are they going to extract their own rent from.

The common factor is the delusion that they understand things, and the
need to control things. And contempt for ordinary people.

The biggest nastiest landlord is the Communist Party.

The Great Society deliberately created an underclass that lives in
public housing. LBJ said that in one of his famous quotes.

The poor are to the Democrats what the cows are to the brie business.



--

I yam what I yam - Popeye

 

[server]

On Sat, 25 Dec 2021 13:48:26 -0500, bitrex <user@example.net> wrote:

On 12/25/2021 9:32 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 09:16:09 -0600, amdx <amdx@knology.net> wrote:

On 12/23/2021 1:08 PM, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.

Mikek

Smart economists would correctly predict the future. But they can\'t.




Smart economists often aren\'t in the business of predicting the future
as a whole anyway, the one I know is in the business of writing
math-heavy papers with conclusions that might help one particular type
of business in one particular industry be more productive/make more
profit than they are currently with the tools they already have, if
anyone bothered to read the papers or believe the conclusions. He sees
himself more as being in the field of mathematical optimization than
fortune-telling.

Exactly. They are usually dead wrong about what works but get Nobel
prizes for useless equations. Like most other tribes, what economists
want most is power.



--

I yam what I yam - Popeye

 

[bitrex]

On 12/25/2021 3:26 PM, jlarkin@highlandsniptechnology.com wrote:

On Sat, 25 Dec 2021 13:33:48 -0500, bitrex <user@example.net> wrote:

On 12/25/2021 9:30 AM, jlarkin@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 02:37:53 -0500, bitrex <user@example.net> wrote:

On 12/24/2021 11:17 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.




Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.

No, inflation will do.




Economists can\'t agree on why large amounts of debt is bad in the first
place, other than that it could cause a panic or destabilize the economy.

But also economist John Stuart Mills wrote:

\"Panics do not destroy capital; they merely reveal the extent to which
it has been previously destroyed by its betrayal into hopelessly
unproductive works.\"

Inflation is believed to be related to aggregate spending and what it\'s
spent on, not government spending in isolation, and the aggregate
spending of America\'s wealthiest corporations and its wealthiest
citizens in large part tends to be hopelessly unproductive speculatory
wanking, and the aggregate spending of the US government tends to be in
large part hopelessly unproductive assessment of military hardware and
regular doomed foreign adventures to give it a reason for existing.

The really big \"wealth\" is just stock shares and isn\'t often spent;
just theoretical stuff in a ledger somewhere. Unspent \"wealth\" does
not compete for buying stuff so doesn\'t hurt normal people.

If that\'s money that was simply transferred from the government printing
press to citizens to spend on stuff like health \"insurance\" and rent
payments and rate hikes in the same telephone and Internet service
they\'ve always had that eventually ends up in the speculative
investments of some billionaire somewhere that\'s non self-liquidating
debt and is inflationary, it\'s not the same as taking on federal debt to
invest in small businesses development or say funding in-home caregiving
for people who care for ill relatives freeing up their time to invest in
more productive works, which are in theory self-liquidating types of debt.

The best thing that government can do for small businesses is to do
less. It\'s amusing all the concessions states give to compete for
big-name car assemblers, to get a few thousand jobs. Why don\'t they
give similar concessions to all businesses?


Landlording is a particularly unproductive type of economic activity and
as you know any Real Communist tends hold the practice in a particularly
high level of contempt, how little-c communist Joe Biden feels about it
I\'m unsure.

Landlords are being driven out of business here. Fine, we don\'t need
renters. Buy a condo or sleep in a tent.

Are they? As I understand it SF recently turned over all their public
housing units to be managed by private sector subcontractors.

> I\'ve seen (and slept in) Real Communist housing. I wasn\'t impressed.

Felt the same way about some apartments I\'ve slept in that rent for
$2000/mo in Boston and SF. Hey, least the Khrushchyovkas were priced
appropriate to their quality:

<https://youtu.be/ZN-419d7vt4>

Most government spending nowadays is frankly counter-productive. The
costs and damages are largely non-military, domestic.

With as large a negative trade balance as the US has they don\'t have
much choice.

Pass a lot of business taxes and regulations and expenses and suck up
to the unions, and see what happens. Imports.

Historically in the Western civilization negotiation between trade
unions and management was considered a more peaceful and rational option
all around than labor dragging the management out, setting them on fire
and putting an \"under new management\" sign on the door when they figured
they weren\'t getting their fair cut of the proceeds.

 

[bitrex]

On 12/25/2021 3:39 PM, jlarkin@highlandsniptechnology.com wrote:

On Sat, 25 Dec 2021 13:48:26 -0500, bitrex <user@example.net> wrote:

On 12/25/2021 9:32 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 09:16:09 -0600, amdx <amdx@knology.net> wrote:

On 12/23/2021 1:08 PM, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.

Mikek

Smart economists would correctly predict the future. But they can\'t.




Smart economists often aren\'t in the business of predicting the future
as a whole anyway, the one I know is in the business of writing
math-heavy papers with conclusions that might help one particular type
of business in one particular industry be more productive/make more
profit than they are currently with the tools they already have, if
anyone bothered to read the papers or believe the conclusions. He sees
himself more as being in the field of mathematical optimization than
fortune-telling.

Exactly. They are usually dead wrong about what works but get Nobel
prizes for useless equations. Like most other tribes, what economists
want most is power.

I don\'t tend to think of middle-aged men who daily drive a Subaru
Impreza to really be the power-hungry egomaniac-type but maybe. He tends
to find economist-jokes as amusing as anyone \"Y\'know why they don\'t hold
economist conferences in Vegas...\"

 

[Rick C]

On Saturday, December 25, 2021 at 3:39:13 PM UTC-5, jla...@highlandsniptechnology.com wrote:

On Sat, 25 Dec 2021 13:48:26 -0500, bitrex <us...@example.net> wrote:

On 12/25/2021 9:32 AM, jla...@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 09:16:09 -0600, amdx <am...@knology.net> wrote:

On 12/23/2021 1:08 PM, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.

Mikek

Smart economists would correctly predict the future. But they can\'t.




Smart economists often aren\'t in the business of predicting the future
as a whole anyway, the one I know is in the business of writing
math-heavy papers with conclusions that might help one particular type
of business in one particular industry be more productive/make more
profit than they are currently with the tools they already have, if
anyone bothered to read the papers or believe the conclusions. He sees
himself more as being in the field of mathematical optimization than
fortune-telling.
Exactly. They are usually dead wrong about what works but get Nobel
prizes for useless equations. Like most other tribes, what economists
want most is power.

Yes, the sort of power Larkin lusts for but will never have! lol

--

Rick C.

- Get 1,000 miles of free Supercharging
- Tesla referral code - https://ts.la/richard11209

 

[Rick C]

On Saturday, December 25, 2021 at 4:03:57 PM UTC-5, bitrex wrote:

On 12/25/2021 3:33 PM, jla...@highlandsniptechnology.com wrote:

Incidentally I do know why some tend to confuse the Democrats with
communists as they do love a state-sponsored enterprise, like where else
are they going to extract their own rent from.

The common factor is the delusion that they understand things, and the
need to control things. And contempt for ordinary people.

The biggest nastiest landlord is the Communist Party.

The Great Society deliberately created an underclass that lives in
public housing. LBJ said that in one of his famous quotes.

The poor are to the Democrats what the cows are to the brie business.
Sure but the mainstream alternative is the Republican party and various
conspiracy-theorists and sad dull bigots are their cows.

I skimmed this post until I saw the comments above. Thinking you were debating with CD or some other arch-conservative I looked and it was Larkin! I never realized he was such a hater and out of touch with reality in this way. Sure, he listens to idiots spouting nonsense about climate warming, but the nonsense about a public housing underclass is the sort of rant that only a few here would spout!

Glad to see the Donald eventually came around on vaccines, though, it\'s
remarkable how fast some former presidents can transmute into vaguely
normal humans once they come down from snorting raw power up their nose
all day like George W snorting coke at a college frat party.

I think he was always in support of vaccines, no? He has always bragged about creating them. It\'s no surprise he took them... just a bit too late to not catch the disease. I see the Biden White House has it\'s mini-plague too.

It\'s funny that his \"supporters\" boo him for saying that they work and they are a good thing. He does always back away from saying others should be forced to take them or even that they should take them. He still gets booed..

Why is everyone so fu**ing stupid?

https://www.youtube.com/watch?v=sVwrCOTSaaQ

--

Rick C.

+ Get 1,000 miles of free Supercharging
+ Tesla referral code - https://ts.la/richard11209

 

[server]

On Sat, 25 Dec 2021 15:48:28 -0500, bitrex <user@example.net> wrote:

On 12/25/2021 3:26 PM, jlarkin@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 13:33:48 -0500, bitrex <user@example.net> wrote:

On 12/25/2021 9:30 AM, jlarkin@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 02:37:53 -0500, bitrex <user@example.net> wrote:

On 12/24/2021 11:17 AM, jlarkin@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.




Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.

No, inflation will do.




Economists can\'t agree on why large amounts of debt is bad in the first
place, other than that it could cause a panic or destabilize the economy.

But also economist John Stuart Mills wrote:

\"Panics do not destroy capital; they merely reveal the extent to which
it has been previously destroyed by its betrayal into hopelessly
unproductive works.\"

Inflation is believed to be related to aggregate spending and what it\'s
spent on, not government spending in isolation, and the aggregate
spending of America\'s wealthiest corporations and its wealthiest
citizens in large part tends to be hopelessly unproductive speculatory
wanking, and the aggregate spending of the US government tends to be in
large part hopelessly unproductive assessment of military hardware and
regular doomed foreign adventures to give it a reason for existing.

The really big \"wealth\" is just stock shares and isn\'t often spent;
just theoretical stuff in a ledger somewhere. Unspent \"wealth\" does
not compete for buying stuff so doesn\'t hurt normal people.

If that\'s money that was simply transferred from the government printing
press to citizens to spend on stuff like health \"insurance\" and rent
payments and rate hikes in the same telephone and Internet service
they\'ve always had that eventually ends up in the speculative
investments of some billionaire somewhere that\'s non self-liquidating
debt and is inflationary, it\'s not the same as taking on federal debt to
invest in small businesses development or say funding in-home caregiving
for people who care for ill relatives freeing up their time to invest in
more productive works, which are in theory self-liquidating types of debt.

The best thing that government can do for small businesses is to do
less. It\'s amusing all the concessions states give to compete for
big-name car assemblers, to get a few thousand jobs. Why don\'t they
give similar concessions to all businesses?


Landlording is a particularly unproductive type of economic activity and
as you know any Real Communist tends hold the practice in a particularly
high level of contempt, how little-c communist Joe Biden feels about it
I\'m unsure.

Landlords are being driven out of business here. Fine, we don\'t need
renters. Buy a condo or sleep in a tent.

Are they? As I understand it SF recently turned over all their public
housing units to be managed by private sector subcontractors.

I\'ve seen (and slept in) Real Communist housing. I wasn\'t impressed.

Felt the same way about some apartments I\'ve slept in that rent for
$2000/mo in Boston and SF. Hey, least the Khrushchyovkas were priced
appropriate to their quality:

https://youtu.be/ZN-419d7vt4


Most government spending nowadays is frankly counter-productive. The
costs and damages are largely non-military, domestic.

With as large a negative trade balance as the US has they don\'t have
much choice.

Pass a lot of business taxes and regulations and expenses and suck up
to the unions, and see what happens. Imports.


Historically in the Western civilization negotiation between trade
unions and management was considered a more peaceful and rational option
all around than labor dragging the management out, setting them on fire
and putting an \"under new management\" sign on the door when they figured
they weren\'t getting their fair cut of the proceeds.

What\'s a fair cut? That was before giant container ships and 747
freighters.

If unions are so smart, why don\'t they start businesses?

I have a friend who was an organizer for the Teamsters union.
Sometimes the union employees would go on strike. She says that the
negotiations were brutal.



--

I yam what I yam - Popeye

 

[bitrex]

On 12/25/2021 4:22 PM, Rick C wrote:

On Saturday, December 25, 2021 at 3:39:13 PM UTC-5, jla...@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 13:48:26 -0500, bitrex <us...@example.net> wrote:

On 12/25/2021 9:32 AM, jla...@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 09:16:09 -0600, amdx <am...@knology.net> wrote:

On 12/23/2021 1:08 PM, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.

Mikek

Smart economists would correctly predict the future. But they can\'t.




Smart economists often aren\'t in the business of predicting the future
as a whole anyway, the one I know is in the business of writing
math-heavy papers with conclusions that might help one particular type
of business in one particular industry be more productive/make more
profit than they are currently with the tools they already have, if
anyone bothered to read the papers or believe the conclusions. He sees
himself more as being in the field of mathematical optimization than
fortune-telling.
Exactly. They are usually dead wrong about what works but get Nobel
prizes for useless equations. Like most other tribes, what economists
want most is power.

Yes, the sort of power Larkin lusts for but will never have! lol

There\'s not a lot of riches or power in the business of telling people
things they don\'t want to hear, which is what economists making academic
salaries often do with their time.

You could write a whole book about whether e.g. the configuration of
state borders in the US is optimal for small-business profitability and
efficiency of interstate commerce (they aren\'t) but who wants to hear
this and what would they do with this information anyway.

 

[bitrex]

On 12/25/2021 4:22 PM, Rick C wrote:

On Saturday, December 25, 2021 at 4:03:57 PM UTC-5, bitrex wrote:
On 12/25/2021 3:33 PM, jla...@highlandsniptechnology.com wrote:

Incidentally I do know why some tend to confuse the Democrats with
communists as they do love a state-sponsored enterprise, like where else
are they going to extract their own rent from.

The common factor is the delusion that they understand things, and the
need to control things. And contempt for ordinary people.

The biggest nastiest landlord is the Communist Party.

The Great Society deliberately created an underclass that lives in
public housing. LBJ said that in one of his famous quotes.

The poor are to the Democrats what the cows are to the brie business.
Sure but the mainstream alternative is the Republican party and various
conspiracy-theorists and sad dull bigots are their cows.

I skimmed this post until I saw the comments above. Thinking you were debating with CD or some other arch-conservative I looked and it was Larkin! I never realized he was such a hater and out of touch with reality in this way. Sure, he listens to idiots spouting nonsense about climate warming, but the nonsense about a public housing underclass is the sort of rant that only a few here would spout!


Glad to see the Donald eventually came around on vaccines, though, it\'s
remarkable how fast some former presidents can transmute into vaguely
normal humans once they come down from snorting raw power up their nose
all day like George W snorting coke at a college frat party.

I think he was always in support of vaccines, no? He has always bragged about creating them. It\'s no surprise he took them... just a bit too late to not catch the disease. I see the Biden White House has it\'s mini-plague too.

It\'s funny that his \"supporters\" boo him for saying that they work and they are a good thing. He does always back away from saying others should be forced to take them or even that they should take them. He still gets booed.

Why is everyone so fu**ing stupid?

https://www.youtube.com/watch?v=sVwrCOTSaaQ

Nah, a person is smart:

<https://youtu.be/w2ppyMUlXfM?t=23>

(the \"and you know it\" while speaking to a black man may have been lost
on some people in the audience, though.)

 

[bitrex]

On 12/25/2021 4:22 PM, Rick C wrote:

On Saturday, December 25, 2021 at 4:03:57 PM UTC-5, bitrex wrote:
On 12/25/2021 3:33 PM, jla...@highlandsniptechnology.com wrote:

Incidentally I do know why some tend to confuse the Democrats with
communists as they do love a state-sponsored enterprise, like where else
are they going to extract their own rent from.

The common factor is the delusion that they understand things, and the
need to control things. And contempt for ordinary people.

The biggest nastiest landlord is the Communist Party.

The Great Society deliberately created an underclass that lives in
public housing. LBJ said that in one of his famous quotes.

The poor are to the Democrats what the cows are to the brie business.
Sure but the mainstream alternative is the Republican party and various
conspiracy-theorists and sad dull bigots are their cows.

I skimmed this post until I saw the comments above. Thinking you were debating with CD or some other arch-conservative I looked and it was Larkin! I never realized he was such a hater and out of touch with reality in this way. Sure, he listens to idiots spouting nonsense about climate warming, but the nonsense about a public housing underclass is the sort of rant that only a few here would spout!

Larkin isn\'t totally off the mark about the Democrats, there\'s not a lot
to like about them.

Where he goes off-the-rails is that washed-up game show hosts are some
kind of improvement.

 

[Anthony William Sloman]

On Sunday, December 26, 2021 at 8:30:17 AM UTC+11, jla...@highlandsniptechnology.com wrote:

On Sat, 25 Dec 2021 15:48:28 -0500, bitrex <us...@example.net> wrote:
On 12/25/2021 3:26 PM, jla...@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 13:33:48 -0500, bitrex <us...@example.net> wrote:
On 12/25/2021 9:30 AM, jla...@highlandsniptechnology.com wrote:
On Sat, 25 Dec 2021 02:37:53 -0500, bitrex <us...@example.net> wrote:
On 12/24/2021 11:17 AM, jla...@highlandsniptechnology.com wrote:
On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje <pNaOnSt...@yahoo.com> wrote:
On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened jla...@highlandsniptechnology.com wrote in <aokbsghffsd0m8jqt...@4ax.com>:
On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje <pNaOnSt...@yahoo.com> wrote:
On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin <jlarkin@highland_atwork_technology.com> wrote in <m4i9sglh469f6k3v7...@4ax.com>:

Snip>

> If unions are so smart, why don\'t they start businesses?

They do. It\'s called the cooperative movement, and seems to work quite well for some businesses.

https://en.wikipedia.org/wiki/Anarcho-syndicalism

is a more thoroughly worked out version of the same basic idea. Noam Chomsky and Naomi Klein like it.

The wikipedia exposition doesn\'t manage to mention

https://en.wikipedia.org/wiki/Mikhail_Bakunin

but he was a seminal figure.

I have a friend who was an organizer for the Teamsters union.
Sometimes the union employees would go on strike. She says that the negotiations were brutal.

The Teamsters does seem to have been one of those unions whose officials were deliberately corrupted by employers - who favour officials who can be bribed, then complain that the union is corrupt.

--
Bill Sloman, Sydney

 

[whit3rd]

On Saturday, December 25, 2021 at 12:26:44 PM UTC-8, jla...@highlandsniptechnology.com wrote:

The best thing that government can do for small businesses is to do
less.

Evidence? During the great depression, small businesses (family farms)
didn\'t benefit while government \'did less\'.

It\'s amusing all the concessions states give to compete for
big-name car assemblers, to get a few thousand jobs. Why don\'t they
give similar concessions to all businesses?

Because \'all businesses\' isn\'t a voting block. And \'all businesses\' isn\'t
a good criterion for discriminating investors either; why should
a governing body be saddled to serve the needs of \'all business\'?