Economic Illiteracy Has a Name: Keynesianism

[Loveshiscountry]

Originally Posted by txgolfer130

Nice attempt at regurgitation but another epic fail. Fail #2.

Supply of money...only the supply side voodoo doctors believe that supply can influence ANYTHING . I think in your base econ 101 you've confused M1 for the Quantity theory of money, which obviously unbeknownst to you was resurrected and pushed by Friedman. Not Keynes.
... FAIL #3

Keynes argued against the Cambridge equation model.

I think you need to pester your econ 101 prof., for some more tutoring before making assumptions that are clearly incorrect and not based on historical evidence.

Nice attempt at deflecting. The economically uninformed continue to post.
Anyone with even a limited understanding of simple math can figure this out. Save 10 dollars when the money supply is 100, print 100 more how does that savings look now?

[Loveshiscountry]

Originally Posted by newonecoming2

But you can print as much of it as you want... Um I mean you can mint as many coins as you want. The supply of money is endless. The tax on printing it, is the inflation tax, it has to be paid so you don't want to try to overdo it. But there is an unlimited supply and you don't have to borrow it from the fed as well.

yes the inflation tax. That is the one that hits the middle class and the poor the hardest. But for some reason the "economic theorists" here think that's the way to go.
Print money, devalue the dollar, prices go up. All because government cannot control their runaway spending.
We are forced to use the dollar and cannot use competing currencies, we are stuck. The inflation tax is the main reason prices go up. Its not hard to figure out. Prices on necessities like food and clothing continue to rise while income does not to the same degree. The ones who get the newly printed money and spend it right off benefit since that dollar hasn't been devalued yet. Strange how we are taught to save for the future but reward just the opposite.
The cost of living goes up and the ones on a limited income, the poor and the elderly, are hit the worst. More proof government does not look out for the people. Government looks out for themselves.
Debasing the currency is fraud. People want a sound currency. People want something steady and consistent so they can rely on it. They do not like a currency like the dollar that has to be bailed out and propped up.

[newonecoming2]

Originally Posted by Loveshiscountry

yes the inflation tax. That is the one that hits the middle class and the poor the hardest.

That depends on how you go about getting the inflation. If you do it right you can put the inflation tax on the rich and the bank and not on the poor and middle class it depends on what you inflate. Inflate assets and the poor and middle class get the shaft. Inflate the bottom end wages with a tax on the top to keep top end wages from going up to compensate and the top end gets it.

Originally Posted by Loveshiscountry

But for some reason the "economic theorists" here think that's the way to go.

Hmm you should read 4X on minimum wage. If you inflate wages with the minimum wage law and put money into circulation by giving it to everyone the you should get full employment and the top end gets its wages cut more than the bottom end does.

Originally Posted by Loveshiscountry

Print money, devalue the dollar, prices go up. All because government cannot control their runaway spending.

This is the endgame of the printing of money worldwide that went on for ten years and fueled our housing bubble.

Originally Posted by Loveshiscountry

We are forced to use the dollar and cannot use competing currencies, we are stuck. The inflation tax is the main reason prices go up.

The world currency reserve went from $3trillion about 10 years ago to $10 trillion and that $7 trillion went into the housing bubble, if you want to see why the prices are going up look here.

Originally Posted by Loveshiscountry

Its not hard to figure out. Prices on necessities like food and clothing continue to rise while income does not to the same degree.

That is why we need to be pushing on the minimum wage. 4X is a good start (in steps so the economy doesn’t too big a shock).

Originally Posted by Loveshiscountry

The ones who get the newly printed money and spend it right off benefit since that dollar hasn't been devalued yet.

That is why we should give the new money to everyone evenly.

Originally Posted by Loveshiscountry

Strange how we are taught to save for the future but reward just the opposite.

That is too true

Originally Posted by Loveshiscountry

The cost of living goes up and the ones on a limited income, the poor and the elderly, are hit the worst. More proof government does not look out for the people. Government looks out for themselves.

The plutocracy I think you mean

Originally Posted by Loveshiscountry

Debasing the currency is fraud. People want a sound currency.

The $ 7 T that was already printed and run through the US economy already did this sorry to tell you that.

Originally Posted by Loveshiscountry

People want something steady and consistent so they can rely on it. They do not like a currency like the dollar that has to be bailed out and propped up.

Well said. We need to prosecute the banksters for their crimes.