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Yeah, every word in the bible is true because it says so in the bible. And you think OTHER people have logic problems? Good Lord! By the way, your Latin sucks...it's petitio principii.
Yes I do think you have logical problems since that is not an example of begging the question. That is formal circular reasoning known as Circulus in Probando.
And what is so hilarious about it is that your statement is yet another petitio principii. Your ability to spell Latin cannot be used to assume you understand it ...petitio principii. Your first one was giving me a fundamental book on financial orthodoxy, begging the question that I do not understand rather than disagreeing. Then I gave ample proof that he is a false prophet exposing your false argument.
Begging the Question- This type of fallacy is when the conclusion of an argument is assumed in the phrasing of the question itself.
For example: “If aliens didn’t steal my newspaper, who did?” (assume that the newspaper was actually stolen).
Circular Argument- Also referred to as Circulus in Probando, this fallacy is when an argument takes its proof from a factor within the argument itself, rather than from an external one.
For example: “I believe that Frosted Flakes are great because it says so on the Frosted Flakes packaging.”
I'll make a proposition of my own. You believe you gain economic insight by spelling the terminology correctly.
Really nice work there, Son. You are like a machine.
In the context of this thread, you religion is worthless, your economics are worthless, and your Latin is worthless. End of story.
Not much for riposte other than exposing your butthurt.
It should be stated as :
"your religion is worthless"
Your English spelling really sucks. Your mastery , given your Latin skills and obsolete economic models, is in stogy obsolescence and dead languages. Perhaps the religious forum is for you in that regard.
That M. Hudson article is good gwynedd1 (Saving, Asset-Price Inflation, and Debt-Induced Deflation | Michael Hudson). I'm with you with the real estate/investor/landlord tax largesse. As for tax on labor (including FICA), the USGovt has been/is paying heavily for job growth; not to mention how much PERMANENT demand is created, which benefits the economy a lot. Tax on labor also starves the predatory nature of FIRE; let them market/offer better products—especially lower credit card charges—to the citizenry.
My soft criticism with this guy/you is the opaqueness regarding the debtors' correlation with the idle savings in tax-deferred accounts! Not much in-depth talk about the positive aspect of the liquid savers either—they serve a purpose in the economy IMHO.
Quote:
Originally Posted by article
Financial lobbies also have gotten law-makers to adopt the “moral hazard” policy of guaranteeing savings. Debtors still may go bankrupt, but savings are to be kept intact by making taxpayers liable to the economy’s savers. Ever since the collapse of the Federal Savings and Loan Insurance Corporation (FSLIC) in the late 1980s a political fight has loomed over just whose savings are to be rescued. Unfortunately, the principle at work is that of “Big fish eat little fish.” Small savers are sacrificed to the wealthiest savers and institutional investors.
Bail-ins should put an end to the 'big fish' hiding/swimming with the 'little fish'. Again, no mention of the colluding debtors' savings ALSO being rescued?—this is an important part of the moral hazard conundrum IMO.
). I'm with you with the real estate/investor/landlord tax largesse. As for tax on labor (including FICA), the USGovt has been/is paying heavily for job growth; not to mention how much PERMANENT demand is created, which benefits the economy a lot. Tax on labor also starves the predatory nature of FIRE; let them market/offer better products—especially lower credit card charges—to the citizenry.
My soft criticism with this guy/you is the opaqueness regarding the debtors' correlation with the idle savings in tax-deferred accounts! Not much in-depth talk about the positive aspect of the liquid savers either—they serve a purpose in the economy IMHO.
I can agree with several of your points in context. At 3% unemployment , liquid savers do play a role indeed. There are lots of analogies like giving up a seat in musical chairs. The problem is people don't understand that this applies under the condition of a bottle neck. Giving up seats at an empty movie theater plays no role.
I would also agree that taxing labor can halt the FIRE so long its not rescued. However the creditors were rescued. If creditors can lend to ham sandwiches and will be rescued, its counterfeiting with false bank profits with bag holding "debtors" . Heck some of that bailout money flowed right back into the rental housing market mocking any shred of a market system.
Quote:
Bail-ins should put an end to the 'big fish' hiding/swimming with the 'little fish'. Again, no mention of the colluding debtors' savings ALSO being rescued?—this is an important part of the moral hazard conundrum IMO.
The only debtors I would rescue are those that find themselves underwater due to money manipulations in the aggregate. However that was only after the bailouts. And the only rescue I would suggest is to prevent debt deflation. And people do borrow based on expected inflation. Real reckless borrowing should punish the debtors.
So don't assume the points you make are opposed. The difference is that your position has representation.
And thanks for actually addressing the subject with rational debate.
Politicians could easily create assets that is money that is value by inventing rights and then by selling them
for example a lot of people who buy or live in houses with great vistas get upset when a constructor build something that hide totally or partly that vista to them
let's invent "vista rights" and sell them to the owner, by paying (a lot) to the municipality or County the owner will get the right not to be deprived by his vista for, 10 metres from his windows, or 100 metres etc
the more free space he buy the more it will cost to him accordingly.
Our banking system does this. They put under their assets mortgages which were created from nothing. They only hold a fraction of the reserves, so they created that money because there was a demand for the loan.
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