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Old 12-21-2011, 08:38 AM
 
Location: Boston MA
142 posts, read 497,860 times
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Those Europeans have the right idea. The illicit drug trade will never go away, why not capitalize on the billions it produces?

Did drug money save our economy? - The Week
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Old 12-21-2011, 08:46 AM
 
Location: DFW
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The fact that it did boost our economy is undeniable but to say it saved the entire system is too far-fetched.
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Old 12-21-2011, 09:31 AM
 
Location: Boston MA
142 posts, read 497,860 times
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Agreed - but the article pertained to drug money preventing the collapse of the european economy, not the US; this countries recession was already to far gone.
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Old 12-21-2011, 09:37 AM
 
17,749 posts, read 15,026,257 times
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Quote:
Originally Posted by cerebral_cortex View Post
Those Europeans have the right idea. The illicit drug trade will never go away, why not capitalize on the billions it produces?

Did drug money save our economy? - The Week

You realize our credit system is a human creation. I suppose toilet flushes could have cooled the reactors at Fukushima and we could say that sewage is a fixture in nuclear energy. It didn't save us. We need to be saved from a faulty system that pretends drugging people has economic value.
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Old 12-21-2011, 10:24 AM
 
Location: Boston MA
142 posts, read 497,860 times
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Quote:
You realize our credit system is a human creation. I suppose toilet flushes could have cooled the reactors at Fukushima and we could say that sewage is a fixture in nuclear energy. It didn't save us. We need to be saved from a faulty system that pretends drugging people has economic value.
LMAO?

You realize despite being a human creation, the global monetary and credit system are God in the present day, modern world?

I don't know what kind of cool points, or point in general, you are trying to score with the "toilet flushing" analogy? But, it has no relevance in regards to drug money helping bail out europe.

Quote:
We need to be saved from a faulty system that pretends drugging people has economic value.
Again, where are you going with this? Are you implying that the illicit drug trade isn't profitable? Who are drugging people? The illicit drug trade is elementary economics, supply and demand - no one is drugging anyone, people make conscious decisions to drug themselves. Look at the alcohol and tobacco industry; Philip Morris turns $7 billion a quarter in profit, even while tobacco products are undoubtedly a healthy hazard. Why will Philip Morris never go away? Because their $money$, credit and assets can get them whatever they want, and pay off whoever they want.

I'm not "pro-drug smuggling", I just found the aforementioned link interesting.

No economic value? Pablo Escobar offered to pay off the $10 billion USD debt - cash, in the 1980's.
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Old 12-21-2011, 10:42 AM
 
17,749 posts, read 15,026,257 times
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Quote:
Originally Posted by cerebral_cortex View Post
LMAO?

You realize despite being a human creation, the global monetary and credit system are God in the present day, modern world?

I don't know what kind of cool points, or point in general, you are trying to score with the "toilet flushing" analogy? But, it has no relevance in regards to drug money helping bail out europe.
Money is created on computer key boards. You could create a drug runner simulation on a computer if you like to generate funds.




Quote:
Again, where are you going with this? Are you implying that the illicit drug trade isn't profitable? Who are drugging people? The illicit drug trade is elementary economics, supply and demand - no one is drugging anyone, people make conscious decisions to drug themselves.
So? It does not save the economy. Its a vice, meaning pure consumption.


Quote:
Look at the alcohol and tobacco industry; Philip Morris turns $7 billion a quarter in profit, even while tobacco products are undoubtedly a healthy hazard. Why will Philip Morris never go away? Because their $money$, credit and assets can get them whatever they want, and pay off whoever they want.
This is where the abuse of the Keynesian approach makes me gag. Lets just start killing each other in a civil war to raise funds then. I think it was Lincoln greenbacks and not Sherman's march that created liquidity. No you see, I am not the one to see the money go round and round and back again without the basic utilitarian philosophy of expecting productivity when discussing economics. Drugs are an issue of liberty and vice.

Quote:
I'm not "pro-drug smuggling", I just found the aforementioned link interesting.

No economic value? Pablo Escobar offered to pay off the $10 billion USD debt - cash, in the 1980's.
Again, money is created on key boards and the odd printing press. If I were to choose a criminal class to help, I would prefer a run of the mill counterfeiter who might actually do some good.
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Old 12-21-2011, 11:58 AM
 
Location: Boston MA
142 posts, read 497,860 times
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Quote:
Money is created on computer key boards. You could create a drug runner simulation on a computer if you like to generate funds.
Please explain the above. Do you mean much of the worlds money is electronic, not physical cash?

Quote:
So? It does not save the economy. Its a vice, meaning pure consumption.
$325 billion back into the economy is HUGE. Name another industry putting that kind of liquid capital back into the economy?

Quote:
This is where the abuse of the Keynesian approach makes me gag. Lets just start killing each other in a civil war to raise funds then. I think it was Lincoln greenbacks and not Sherman's march that created liquidity. No you see, I am not the one to see the money go round and round and back again without the basic utilitarian philosophy of expecting productivity when discussing economics. Drugs are an issue of liberty and vice.
The "Let's start killing each other in a civil war to raise funds" is another gross exaggeration, but unfortunately there aren't many world/people friendly solutions to solve our financial problem. The US is no stranger - look at the oil driver wars.

Quote:
Again, money is created on key boards and the odd printing press. If I were to choose a criminal class to help, I would prefer a run of the mill counterfeiter who might actually do some good.
Counterfeiters just flood the market devaluing, the dollar. The drug trade supplies an actual product, albeit illegal, but an actual product with willing buyers.

It's a recession proof cash cow. Miami was build on drug money.

The link in my original post was interesting, so I posted; I wasn't trying to bicker regarding morals and legality surrounding it.
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Old 12-21-2011, 02:22 PM
 
Location: Metro Detroit, Michigan
11,920 posts, read 13,249,168 times
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Money changing hands is always a good thing. It's even better when those transactions yield tax revenue. Applying this ideal to the drug trade, I think it's time people apply some common sense to the situation. Do I think the drug trade saved economies? I doubt it, but it probably didn't hurt.
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Old 12-21-2011, 02:32 PM
 
17,749 posts, read 15,026,257 times
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Quote:
Originally Posted by cerebral_cortex View Post
Please explain the above. Do you mean much of the worlds money is electronic, not physical cash?
Indeed it is.


Quote:
$325 billion back into the economy is HUGE. Name another industry putting that kind of liquid capital back into the economy?
Again I am a utilitarian, not a bean counter. What does a dollar produce? I will agree when you have a corrupt banking system, drug money is better than nothing. However that is my point. The drug money proves our banking system sucks.


Quote:
The "Let's start killing each other in a civil war to raise funds" is another gross exaggeration, but unfortunately there aren't many world/people friendly solutions to solve our financial problem. The US is no stranger - look at the oil driver wars.
Its along the same lines. If we need money, just print it building a bridge rather than fund drug addled orgies.


Quote:
Counterfeiters just flood the market devaluing, the dollar. The drug trade supplies an actual product, albeit illegal, but an actual product with willing buyers.
Same with guns. There are lots of willing buyers and a real product. The US could probably pay off a lot of its foreign debt with its nukes. Its the ole misapplied Keynesian approach.


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It's a recession proof cash cow. Miami was build on drug money.
Then why not just print the money? The drug production had as much to do with it as would a rubber nickel.

Quote:
The link in my original post was interesting, so I posted; I wasn't trying to bicker regarding morals and legality surrounding it.
Its interesting in that it shows that our banking system is worse than drug cartels since drug money that adds nothing to the economy added liquidity that could have been added with a key stroke.
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Old 12-21-2011, 02:36 PM
 
17,749 posts, read 15,026,257 times
Reputation: 6377
Quote:
Originally Posted by andywire View Post
Money changing hands is always a good thing. It's even better when those transactions yield tax revenue. Applying this ideal to the drug trade, I think it's time people apply some common sense to the situation. Do I think the drug trade saved economies? I doubt it, but it probably didn't hurt.
Money is a claim on wealth, not wealth. Taxing it would certainly help since lowering a drug dealers claim on wealth is a good thing.
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