Libertarians are idiots.

[The Outsider]

Bottom post of the previous page:

I mean, inflation is an inherent part of fiat currency that isn't backed by anything tangible. When you can arbitrarily create more money the value of the money is going to go down. It's like the most basic aspect of modern economics. The problem is that we have no real choice other than to use a fiat currency because there aren't enough rare resources to be used as a backing for currency in today's global economy.

Inflation is also not a corporate choice, however, corporations definitely use times of inflation to artificially raise their prices beyond what inflation would dictate.

[emby]

I mean, inflation is an inherent part of fiat currency that isn't backed by anything tangible. When you can arbitrarily create more money the value of the money is going to go down. It's like the most basic aspect of modern economics. The problem is that we have no real choice other than to use a fiat currency because there aren't enough rare resources to be used as a backing for currency in today's global economy.

Inflation is also not a corporate choice, however, corporations definitely use times of inflation to artificially raise their prices beyond what inflation would dictate.

Inflation occurs when a corporation raises prices.



There's no other action taken by anyone else in the economy that inadvertently or even deliberately raises the prices for another company. To say otherwise is to claim that the corporate body has no agency to do anything about pricing in which case there's no need for limited liability.

Literally the entire economy is compromised of buyers and sellers. Buyers want lower prices, sellers want higher prices. And when we're talking about consumer goods, the sellers are a string of corporate rent seekers adding their margins.



This nonsense about the money supply evaporated with Bretton Woods in the 70s. Libertarian theory has no conceptualization of fiat currency because they deal in tangible assets. With a lack of any economic prescription for something they don't understand, they just threw their hands up and claimed the same rules apply as if the money supply still matters.


That's why inflation doesn't align with deficits or debt.

Look at it this way, if fiat currency means we should tie the money supply to an asset, why wouldn't the assets be everything that the federal government could reasonably tax? What is the current total of all assets in the United States, it's territories, etc.that are valued in US dollars?

I don't know that number either, but it produces over 20T a year in taxable money. Which also happens to be the current money supply.

If you were in debt the equivalent of your $40k annual salary with a million in assets and borrowing at negative interest rates with the ability to either pay it off whenever you want or refinance indefinitely, would you be concerned about saving money on bathroom cleaner?

They're claiming scarcity where there is none.

[emby]

It's ironic because if it actually did work the way they say, they would never cut taxes until the cuts happen first.

[emby]

Apologies for ranting at you.

Old habit

[emby]

I now present inflation theory for cunts.




Money supply my ass

[The Outsider]

Once you realize that our economy is a totally ephemeral concept that only exists as a construct in reality because we believe in it you come to understand that economics is a stupid fucking field and we could essentially do whatever we want in terms of inflation, price gouging, etc. as long as enough people bought into it. Currency has always been about perceived value, typically of something which was at the time practically useless. Back in the day gold and silver had no practical purpose, they were purely decorative metals. It was only with the proliferation of the circuit board and computerization that they became valuable in a practical sense.

Anyway, it's early and I'm on a combination of great weed and a couple k-pins and I just got to work. So down with the bourgeois, seize the means of productions, and so on and so forth.

[The Outsider]

I now present inflation theory for cunts.




Money supply my ass

I didn't watch that video, but anyone who doesn't either have a fridge with a filtered water dispenser (not always an option but not much more expensive than a basic fridge) or some sort of filter apparatus whether it be on their faucet or a pitcher and then one of those big-ass water bottles enjoys wasting their money. Bottled water is more expensive than beer for Duffman's sake! I'm lucky in that I have both a fridge with the water on the door and the crushed ice as well as one of those fancy instant water dispensers at work so I don't really pay for water outside of my water bill, and 98% of that is my ducks.

[emby]

Once you realize that our economy is a totally ephemeral concept that only exists as a construct in reality because we believe in it you come to understand that economics is a stupid fucking field and we could essentially do whatever we want in terms of inflation, price gouging, etc. as long as enough people bought into it. Currency has always been about perceived value, typically of something which was at the time practically useless. Back in the day gold and silver had no practical purpose, they were purely decorative metals. It was only with the proliferation of the circuit board and computerization that they became valuable in a practical sense.

Anyway, it's early and I'm on a combination of great weed and a couple k-pins and I just got to work. So down with the bourgeois, seize the means of productions, and so on and so forth.

I love it when you talk dirty.

[emby]

America's best and most popular ponzi scheme is alive and well.

[emby]

I remember the company Christmas party back in 2017. We had it at McGuire's Irish Pub in Destin ( A must visit if you're ever in town) and the party was open bar so long as we didn't get "obnoxious".

Obnoxious is my middle name and I got there too early, yet still I was of a mind to drink expensive booze that night even if I was buying for the first half hour. I asked the bartender how much a shot of pappy cost and he tells me $100 and all of a sudden I'm less obnoxious.

Johnny Blue? $50

"What are you looking to spend?" He asks me. I say $20.

He pours me a long shot of Redbreast 12 year Irish Whiskey. It was exquisite. I decided then and there I'ma go get a bottle of this stuff with my Christmas bonus. And that weekend I took my $100 bill to the liquor store and proudly paid $74.99 for a very delicious bottle of Irish Whiskey.

That was December of 2017.

I just left that same liquor store a half hour ago and wouldn't you know it.... Redbreast 12 year Irish Whiskey is the same $74.99 today that it was six years ago.

Anyone care to explain that?

[The Outsider]

Leprechauns, obviously.