Philosophy Now Forum

simplicity wrote: ↑Sat Nov 06, 2021 6:42 pm

uwot wrote: ↑Sat Nov 06, 2021 8:33 am

simplicity wrote: ↑Fri Nov 05, 2021 5:59 pmIn a FIAT system, creating inflation only benefits those who have initial access to the money...

Ah, so capitalism is a bad idea?

Inflation happens if more money is created than good and services produced. It is not exclusive to capitalism.

Fiat money is not exclusive to capitalism; that isn't the point. Is a system that enables people with money to decide its value a good idea?

henry quirk wrote: ↑Sat Nov 06, 2021 1:58 pmScrip is not integral to capitalism.

Depends how you define capitalism. Maybe in your version scrip is not integral, but the alternative to scrip is legal tender, which is subject to global influences. Wouldn't scrip be preferable in your minarchist utopia?

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pm It is perfectly possible to create money without sustaining any inflationary effects. It depends on what and how that money is introduced into the economy.

Creating money and circulating money are two different things. A great deal of the money that was created after 2008 never got out of reserve status [as it's purpose was to bail out the money-center banks in the U.S.]. And yes, it is much more complicated because this entire crisis [which officially started in 1913 with the founding of the FED and really got underway in 1973 when Nixon finally got rid of the gold standard altogether, has created both massive inflation [asset] but even greater deflation [due to globalization and financialization]. There are volumes that can be written on each of these but I will first ask you whether you are educated in these matters because if you are not, I am not going to waste my time here.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmInflation is also the result of; capricious popularity in limited resources, or standard resources reaching limits on supply for reasons that are not related in any sense to the money supply.
Rising wages; regulations of a certain type; or devaluation can all push inflation.

There are many types of inflation but monetary inflation is the main one. Price inflation can be caused by a variety of things as you point out. When speaking of global events, monetary inflation is what you are interested in.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmFollowing the crash of 2008/9 the Uk government created £425,000,000,000 with no significant infaltionary effects.

Try to buy a home in London lately? Anything that can not be globalized or massively financialized has been subject to enormous inflation...housing, health care, professional services of all kinds, education, etc.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmLike I said - it is more complicated that you know.

I've bee studying economics and the monetary system for over 40 years now. How about you?

Age wrote: ↑Sun Nov 07, 2021 9:36 pmObviously, it is true that in some countries, in the past to the days when this is being written, when printing 'excessive' amounts of money inflation rose exponentially and got 'out of control', as it is said. However, human beings learned to control that, and one example is what that government did above, with no significant inflationary effects.

Most people have no clue what money is nor how it works. I would include you and the others in this conversation among them, so before you run your mouth off, just follow the thread and perhaps you will learn something valuable.

simplicity wrote: ↑Mon Nov 08, 2021 5:40 pm

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pm It is perfectly possible to create money without sustaining any inflationary effects. It depends on what and how that money is introduced into the economy.

Creating money and circulating money are two different things.

No, not in the context I am talking about.

A great deal of the money that was created after 2008 never got out of reserve status [as it's purpose was to bail out the money-center banks in the U.S.]. And yes, it is much more complicated because this entire crisis [which officially started in 1913 with the founding of the FED and really got underway in 1973 when Nixon finally got rid of the gold standard altogether, has created both massive inflation [asset] but even greater deflation [due to globalization and financialization]. There are volumes that can be written on each of these but I will first ask you whether you are educated in these matters because if you are not, I am not going to waste my time here.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmInflation is also the result of; capricious popularity in limited resources, or standard resources reaching limits on supply for reasons that are not related in any sense to the money supply.
Rising wages; regulations of a certain type; or devaluation can all push inflation.

There are many types of inflation but monetary inflation is the main one. Price inflation can be caused by a variety of things as you point out. When speaking of global events, monetary inflation is what you are interested in.

You just don't get it. There is only money inflation. All infaltion is money infaltion.
Run along and educate yourself.
You simply do not know what you are on about.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmFollowing the crash of 2008/9 the Uk government created £425,000,000,000 with no significant infaltionary effects.

Try to buy a home in London lately? Anything that can not be globalized or massively financialized has been subject to enormous inflation...housing, health care, professional services of all kinds, education, etc.

House prices have been rocketing since 1979, with only two short plateaus. Inflation has been steady. House prices stabilised during the period of QE.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmLike I said - it is more complicated that you know.

I've bee studying economics and the monetary system for over 40 years now. How about you?

Seem you have learned very little.
There is more to economics that Milton Frieman, whose dogma has created mass poverty, and inequality.
Is that where you got the 99% figure from

Sculptor wrote: ↑Mon Nov 08, 2021 6:05 pm

simplicity wrote: ↑Mon Nov 08, 2021 5:40 pm

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pm It is perfectly possible to create money without sustaining any inflationary effects. It depends on what and how that money is introduced into the economy.

Creating money and circulating money are two different things.

No, not in the context I am talking about.

Do you have your own school of economics?

A great deal of the money that was created after 2008 never got out of reserve status [as it's purpose was to bail out the money-center banks in the U.S.]. And yes, it is much more complicated because this entire crisis [which officially started in 1913 with the founding of the FED and really got underway in 1973 when Nixon finally got rid of the gold standard altogether, has created both massive inflation [asset] but even greater deflation [due to globalization and financialization]. There are volumes that can be written on each of these but I will first ask you whether you are educated in these matters because if you are not, I am not going to waste my time here.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmInflation is also the result of; capricious popularity in limited resources, or standard resources reaching limits on supply for reasons that are not related in any sense to the money supply.
Rising wages; regulations of a certain type; or devaluation can all push inflation.

There are many types of inflation but monetary inflation is the main one. Price inflation can be caused by a variety of things as you point out. When speaking of global events, monetary inflation is what you are interested in.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmYou just don't get it. There is only money inflation. All infaltion is money infaltion.
Run along and educate yourself.
You simply do not know what you are on about.

Technically, you are correct...it is monetary inflation. The other types are price increases due to technical aberrations in the market.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmFollowing the crash of 2008/9 the Uk government created £425,000,000,000 with no significant infaltionary effects.

Try to buy a home in London lately? Anything that can not be globalized or massively financialized has been subject to enormous inflation...housing, health care, professional services of all kinds, education, etc.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmHouse prices have been rocketing since 1979, with only two short plateaus. Inflation has been steady. House prices stabilised during the period of QE.

And why to you believe that house prices were skyrocketing? QE is what has kept interest rates near zero [FED funds rate] and has led to the greatest asset bubble of all-time [particularly in real estate].

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmLike I said - it is more complicated that you know.

I've bee studying economics and the monetary system for over 40 years now. How about you?

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmSeem you have learned very little.

You could have saved yourself some time and just told me that you were not up on this subject-matter. It's ok...you don't have to be the world's preeminent expert on EVERY damn thing.

simplicity wrote: ↑Mon Nov 08, 2021 6:19 pm

Sculptor wrote: ↑Mon Nov 08, 2021 6:05 pm

simplicity wrote: ↑Mon Nov 08, 2021 5:40 pm
Creating money and circulating money are two different things.

No, not in the context I am talking about.

Do you have your own school of economics?

A great deal of the money that was created after 2008 never got out of reserve status [as it's purpose was to bail out the money-center banks in the U.S.]. And yes, it is much more complicated because this entire crisis [which officially started in 1913 with the founding of the FED and really got underway in 1973 when Nixon finally got rid of the gold standard altogether, has created both massive inflation [asset] but even greater deflation [due to globalization and financialization]. There are volumes that can be written on each of these but I will first ask you whether you are educated in these matters because if you are not, I am not going to waste my time here.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmInflation is also the result of; capricious popularity in limited resources, or standard resources reaching limits on supply for reasons that are not related in any sense to the money supply.
Rising wages; regulations of a certain type; or devaluation can all push inflation.

There are many types of inflation but monetary inflation is the main one. Price inflation can be caused by a variety of things as you point out. When speaking of global events, monetary inflation is what you are interested in.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmYou just don't get it. There is only money inflation. All infaltion is money infaltion.
Run along and educate yourself.
You simply do not know what you are on about.

Technically, you are correct...it is monetary inflation. The other types are price increases due to technical aberrations in the market.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmFollowing the crash of 2008/9 the Uk government created £425,000,000,000 with no significant infaltionary effects.

Try to buy a home in London lately? Anything that can not be globalized or massively financialized has been subject to enormous inflation...housing, health care, professional services of all kinds, education, etc.

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmHouse prices have been rocketing since 1979, with only two short plateaus. Inflation has been steady. House prices stabilised during the period of QE.

And why to you believe that house prices were skyrocketing? QE is what has kept interest rates near zero [FED funds rate] and has led to the greatest asset bubble of all-time [particularly in real estate].

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmLike I said - it is more complicated that you know.

I've bee studying economics and the monetary system for over 40 years now. How about you?

Sculptor wrote: ↑Sun Nov 07, 2021 8:24 pmSeem you have learned very little.

You could have saved yourself some time and just told me that you were not up on this subject-matter. It's ok...you don't have to be the world's preeminent expert on EVERY damn thing.

I suggest you STFU or cite your claim.

Sculptor wrote: ↑Mon Nov 08, 2021 7:13 pm I suggest you STFU or cite your claim.

This is super basic economic information. It would be like asking somebody to cite the claim that 1+1=2.

You're not only ignorant, but nasty, nasty, nasty. I told you the last time you got like this [which is pretty much every time] to stop responding to my threads.

Please take your anger elsewhere.

simplicity wrote: ↑Wed Nov 03, 2021 12:26 am a moral system of credit/market interest rates

I see you have decided not to cover MV=PQ with Sculptor, which is a bit of a shame because watching the crazy goldbug face off against the crazy MMT guy would have been entertaining, albeit not enlightening.

But I think this "moral system of credit" probably has legs still.

simplicity wrote: ↑Mon Nov 08, 2021 10:05 pm

Sculptor wrote: ↑Mon Nov 08, 2021 7:13 pm I suggest you STFU or cite your claim.

This is super basic economic information. It would be like asking somebody to cite the claim that 1+1=2.

You're not only ignorant, but nasty, nasty, nasty. I told you the last time you got like this [which is pretty much every time] to stop responding to my threads.

Please take your anger elsewhere.

Cite!
"Super Basic Claim" = Dogma from the back of a cereal packet.
You are talking bollocks.

simplicity wrote: ↑Thu Nov 04, 2021 12:34 am The left believes...

Immanuel Can wrote: ↑Thu Nov 04, 2021 12:47 am The Left believes...

Ahh... a wankfest about what "the left" believes... as if there IS such a 'thing'... and as if YOU KNOW what 'that thing' believes. This is as stupid as Mr. Can claiming to know about atheists, and what they think.

Imaginary entities which you both can absurdly claim to know for better or worse... is all a bunch of self-serving crap.

If you really cared about viewing things in a truthfully balanced way, you would notice and acknowledge the good and bad on more platforms and/or in broader directions. But apparently that's too challenging or unfulfilling to recognize or be honest about. So, instead, just spew in one direction like a mindless drunk! That will clearly spotlight truth: that you're an uneven drunk because that's what serves you.

Lacewing wrote: ↑Tue Nov 09, 2021 1:08 am Ahh... a wankfest about what "the left" believes... as if there IS such a 'thing'...

Yes, yes...and there's no such thing as CRT, either. And the Davos Group is a conspiracy theory. And Socialism is not Marxism. And everybody loves Joe Biden, after he won the last election by being the most popular president ever. And Rotherham has no Muslim rape gangs. And Epstein hanged himself. And if I disagree with you, I"m racistssexist.

Immanuel Can wrote: ↑Tue Nov 09, 2021 1:45 am

Lacewing wrote: ↑Tue Nov 09, 2021 1:08 am Ahh... a wankfest about what "the left" believes... as if there IS such a 'thing'...

Yes, yes...and there's no such thing as CRT, either. And the Davos Group is a conspiracy theory. And Socialism is not Marxism. And everybody loves Joe Biden, after he won the last election by being the most popular president ever. And Rotherham has no Muslim rape gangs. And Epstein hanged himself. And if I disagree with you, I"m racistssexist.

Do you think that selecting some 'truths' and ignoring others is truth?

Lacewing wrote: ↑Tue Nov 09, 2021 1:52 am

Immanuel Can wrote: ↑Tue Nov 09, 2021 1:45 am

Lacewing wrote: ↑Tue Nov 09, 2021 1:08 am Ahh... a wankfest about what "the left" believes... as if there IS such a 'thing'...

Yes, yes...and there's no such thing as CRT, either. And the Davos Group is a conspiracy theory. And Socialism is not Marxism. And everybody loves Joe Biden, after he won the last election by being the most popular president ever. And Rotherham has no Muslim rape gangs. And Epstein hanged himself. And if I disagree with you, I"m racistssexist.

Do you think that selecting some 'truths' and ignoring others is truth?

I said nothing of the kind. I just pointed out all the "arguments" you were about to use.

Sooooo predictable. The Left thinks in lock-step.

Immanuel Can wrote: ↑Tue Nov 09, 2021 2:41 am

Lacewing wrote: ↑Tue Nov 09, 2021 1:52 am Do you think that selecting some 'truths' and ignoring others is truth?

I said nothing of the kind.

I didn't say you did. I was asking you a question.

Immanuel Can wrote: ↑Tue Nov 09, 2021 2:41 amI just pointed out all the "arguments" you were about to use.

You're wrong. So you don't know!

Immanuel Can wrote: ↑Tue Nov 09, 2021 2:41 am Sooooo predictable. The Left thinks in lock-step.

Wrong. Can you see anything else than the limited notions you think you know? Even when people tell you that you're wrong about them and what they think?