Comando

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Comando
2019-07-13 04:18:43 UTC [Athens #the-temple-of-veethena-nike_general]  

@Muten
P = Price level (inflation)
Y = Real income(quantity of stuff produced)
AD = Aggregate demand (Aggregate meaning total)
LRAS = Long Run Aggregate Supply (the total capacity of the economy)

Comando
2019-07-13 04:19:58 UTC [Athens #the-temple-of-veethena-nike_general]  

One of the key differences between economics prior to Kenyes was that the economy would always rebound. For S O M E R E A S O N it didn't.

Comando
2019-07-13 04:21:29 UTC [Athens #the-temple-of-veethena-nike_general]  

Keynes in contrast identified that something had changed. He conceptulized that there was a force which unlike before, was cutting into the effective demand (aggregate demand) of the economy.

Comando
2019-07-13 04:21:54 UTC [Athens #the-temple-of-veethena-nike_general]  

So whilst the country had the factories, and the people willing to work them, the money that existed was not being applied to the economy.

Comando
2019-07-13 04:22:43 UTC [Athens #the-temple-of-veethena-nike_general]  

Keynes solution? Use Government spending to increase aggregate demand to get out of the rut, then scale back involvement, during the good times so you can do it again later.

Comando
2019-07-13 04:23:27 UTC [Athens #the-temple-of-veethena-nike_general]  

Keynesism worked really well... until it didn't, and broke western economies in the late 1960's and 70's in the form of inflation

Comando
2019-07-13 04:23:44 UTC [Athens #the-temple-of-veethena-nike_general]  

The problem being that there is no such thing as a Keynesian politician

Comando
2019-07-13 04:24:50 UTC [Athens #the-temple-of-veethena-nike_general]  

They bloody well could explain what had happened, but weren't willing to accept that Governments had over applied fiscal policy

Comando
2019-07-13 04:25:46 UTC [Athens #the-temple-of-veethena-nike_general]  

^Politicians will always have an incentive to spend and do something. This means that they will rarely cut back spending in practice. so Keynesianism is good when your in a rut, but will eventually break your economy if you continue it onwards.

Comando
2019-07-13 04:26:22 UTC [Athens #the-temple-of-veethena-nike_general]  

I myself fall into being a post-Keynesian.

Comando
2019-07-13 04:26:48 UTC [Athens #the-temple-of-veethena-nike_general]  

I think that Keynes was using tools, which while not... wrong, weren't correct in their understanding.

Comando
2019-07-13 04:27:21 UTC [Athens #the-temple-of-veethena-nike_general]  

Keynes sucessfully identified that SOMETHING had changed, and that money was not being applied to the economy in the 30's and onwards

Comando
2019-07-13 04:28:10 UTC [Athens #the-temple-of-veethena-nike_general]  

One of the chief differences is that... what if we completely misunderstood how money works?

Comando
2019-07-13 04:28:16 UTC [Athens #the-temple-of-veethena-nike_general]  

Money, and debt...

Comando
2019-07-13 04:29:57 UTC [Athens #the-temple-of-veethena-nike_general]  

What if... lending out money... creates new money...
What if, having loans repaid, takes money out of the economy?

And what if repaying loans takes out more money from the economy that it adds in? <:hyperthink:462282519883284480>

Comando
2019-07-13 04:31:05 UTC [Athens #the-temple-of-veethena-nike_general]  

If this hypothesis were true, then there would be economic crashes, whenever there was a period of credit creation, and whenever the credit stopped being created... there was a crash.

https://cdn.discordapp.com/attachments/598761542200197120/599457746336743435/Private_Debt_to_GDP_not_housing.png

Comando
2019-07-13 04:31:11 UTC [Athens #the-temple-of-veethena-nike_general]  

Oh fuck

Comando
2019-07-13 04:32:54 UTC [Athens #the-temple-of-veethena-nike_general]  

@n meowzers What do you do with money from a loan? You apply it to the economy immediately.

Comando
2019-07-13 04:34:05 UTC [Athens #the-temple-of-veethena-nike_general]  

If anyone can understand more technical documents

Comando
2019-07-13 04:34:52 UTC [Athens #the-temple-of-veethena-nike_general]  

This is how money actually works, according to the Bank of England in 2014.

Comando
2019-07-13 04:35:57 UTC [Athens #the-temple-of-veethena-nike_general]  

The first page is a summary

Comando
2019-07-13 04:37:22 UTC [Athens #the-temple-of-veethena-nike_general]  

Loans literally create money

Comando
2019-07-13 04:37:26 UTC [Athens #the-temple-of-veethena-nike_general]  

The bank

Comando
2019-07-13 04:37:31 UTC [Athens #the-temple-of-veethena-nike_general]  

Of fucking England

Comando
2019-07-13 04:37:58 UTC [Athens #the-temple-of-veethena-nike_general]  

Didn't realize that loans de facto create money, until 2014 <:thinkcide2:462282425486147585>

Comando
2019-07-13 04:38:53 UTC [Athens #the-temple-of-veethena-nike_general]  

Hahahahah

Comando
2019-07-13 04:39:20 UTC [Athens #the-temple-of-veethena-nike_general]  

Thing is Muten, this is the same system across the entire western world. The UK just discorvered this first ๐Ÿคก

Comando
2019-07-13 04:41:05 UTC [Athens #the-temple-of-veethena-nike_general]  

2nd was the Bundesbank(Germany) and then the US Fed had one of its board members believe this as well.

Comando
2019-07-13 04:41:22 UTC [Athens #the-temple-of-veethena-nike_general]  

So, its general knowledge now.

Comando
2019-07-13 04:42:00 UTC [Athens #the-temple-of-veethena-nike_general]  

You don't have a banking lisence.

Comando
2019-07-13 04:42:49 UTC [Athens #the-temple-of-veethena-nike_general]  

This mess is why Crypto became popular.

Comando
2019-07-13 04:43:20 UTC [Athens #the-temple-of-veethena-nike_general]  

I don't think its a good solution, but its understandable as to why people would seek out alternative stores of value.

Comando
2019-07-13 04:44:49 UTC [Athens #the-temple-of-veethena-nike_general]  

In the past, we did have a good banking system.

Comando
2019-07-13 04:44:56 UTC [Athens #the-temple-of-veethena-nike_general]  

It is possible.

Comando
2019-07-13 04:47:19 UTC [Athens #the-temple-of-veethena-nike_general]  

In the past banks, printed THEIR OWN currency. This currency was then owned by the owners of the banks. They handed over legal tender, in exchange for the currency of the bank. They could use it for trade if others wanted it but ๐Ÿคท๐Ÿป You weren't forced to take it.
The amount of money in circulation only increased because it was printed by the Government.

Comando
2019-07-13 04:48:22 UTC [Athens #the-temple-of-veethena-nike_general]  

What happens if a bank lent out too much money? It collapsed. Everyone who invested in it lost their money

Comando
2019-07-13 04:50:25 UTC [Athens #the-temple-of-veethena-nike_general]  

What happens now? Everyone loses all their money, because the banks can print legal tender now, whereas before they could not.

Comando
2019-07-13 04:50:53 UTC [Athens #the-temple-of-veethena-nike_general]  

The root of the problem, is Fractional Reserve Lending.

Comando
2019-07-13 04:51:03 UTC [Athens #the-temple-of-veethena-nike_general]  

(Not the Jews)

Comando
2019-07-13 04:52:46 UTC [Athens #the-temple-of-veethena-nike_general]  

So here's the amount of US dollars that exist.

https://cdn.discordapp.com/attachments/598761542200197120/599463204195663892/USD_M0.JPG

Comando
2019-07-13 04:52:55 UTC [Athens #the-temple-of-veethena-nike_general]  

๐Ÿคก

Comando
2019-07-13 04:53:26 UTC [Athens #the-temple-of-veethena-nike_general]  

But indeed. Why hasn't there been x4 inflation?

Comando
2019-07-13 04:54:48 UTC [Athens #the-temple-of-veethena-nike_general]  

Well inflation only occurs in relation to the products that the money is applied to. So if this new money was... say... all given to the banks, and therefore only the banks spent this money... then there's no reason it would be applied to the price of cloths and food.

Comando
2019-07-13 04:55:01 UTC [Athens #the-temple-of-veethena-nike_general]  

Bingo

Comando
2019-07-13 04:55:36 UTC [Athens #the-temple-of-veethena-nike_general]  

Stocks, land and houses.

Comando
2019-07-13 04:55:46 UTC [Athens #the-temple-of-veethena-nike_general]  

Hence why all have gone through the roof.

Comando
2019-07-13 04:56:11 UTC [Athens #the-temple-of-veethena-nike_general]  

Remember kids. Its not inflation, if its assets **increasing in value**

Comando
2019-07-13 04:56:50 UTC [Athens #the-temple-of-veethena-nike_general]  

Nope

Comando
2019-07-13 04:57:07 UTC [Athens #the-temple-of-veethena-nike_general]  

Asset appreciation is zeo sum. Its only good if you own the house.

Comando
2019-07-13 04:57:16 UTC [Athens #the-temple-of-veethena-nike_general]  

Most people don't own a lot of assets if any.

Comando
2019-07-13 04:57:55 UTC [Athens #the-temple-of-veethena-nike_general]  

Think about it like this to see the trick. If assets increase x4 but everything else remains the same, then the amount of work you need to preform to get assets has increased by x4

Comando
2019-07-13 04:58:01 UTC [Athens #the-temple-of-veethena-nike_general]  

๐Ÿคก ๐Ÿ”ซ

Comando
2019-07-13 04:59:16 UTC [Athens #the-temple-of-veethena-nike_general]  

Actually that's the beauty of it. Assets have been inflated, but... the way in which they have been inflated, is permanent... unlike 2008

Comando
2019-07-13 04:59:44 UTC [Athens #the-temple-of-veethena-nike_general]  

Unless all that Quantatative Easing money dissapears, its a permanent change.

Comando
2019-07-13 05:00:33 UTC [Athens #the-temple-of-veethena-nike_general]  

And the only way to remove all of that mess is to slowely kill off all the major banks over the next 40 years, at the cost of the current generation... or have a politcal reform...

Comando
2019-07-13 05:00:52 UTC [Athens #the-temple-of-veethena-nike_general]  

Hence the number of communists and fascists wanting to burn the liberal system down to the fucking ground

Comando
2019-07-13 05:03:07 UTC [Athens #the-temple-of-veethena-nike_general]  

Arguably the baby problem, is a result of people not being able to afford houses, and all the rest of it.

Comando
2019-07-14 21:52:09 UTC [Athens #gymnasium_games]  

no xD

Comando
2019-07-14 21:56:17 UTC [Athens #gymnasium_games]  

<:pot_of_kek:544849795433496586>

Comando
2019-07-14 22:18:29 UTC [Athens #gymnasium_games]  

You're is short for: You are
Your is possession

Comando
2019-07-14 22:18:38 UTC [Athens #gymnasium_games]  

In that instance the latter your was correct

Comando
2019-07-15 02:25:02 UTC [Athens #the-writing-on-the-wall_memes]  

Whole countries*

Comando
2019-07-15 02:55:51 UTC [Athens #the-writing-on-the-wall_memes]  

YES

Comando
2019-07-15 05:43:08 UTC [Athens #gymnasium_games]  

It is disruptive to be fair

Comando
2019-07-15 05:43:20 UTC [Athens #gymnasium_games]  

Tell me to shut the fuck up :P

Comando
2019-07-15 05:43:52 UTC [Athens #gymnasium_games]  

If I'm directly moderating someone then, its moderation. A necessary evil of disruption

Comando
2019-07-15 05:46:12 UTC [Athens #gymnasium_games]  

Is shire behaving?

Comando
2019-07-15 06:42:11 UTC [Athens #the-temple-of-veethena-nike_general]  

Do it

https://cdn.discordapp.com/attachments/598761542200197120/600215515755053069/emote_buhaha.png

Comando
2019-07-15 06:46:41 UTC [Athens #the-writing-on-the-wall_memes]  

<:thinkcide2:462282425486147585>

Comando
2019-07-17 07:13:48 UTC [Athens #gymnasium_games]  

<:pepelaugh:544857300179877898>

Comando
2019-07-17 07:14:58 UTC [Athens #palaestra_debates]  

The weird thing about that article if that the Independent is 1 step away from saying: Therefore the only solution is to let them fight abroad or kill them here now - but they haven't quite realized it.

Comando
2019-07-17 19:59:38 UTC [Athens #palaestra_debates]  

Vicarious benevolence, would be a good way to put it. Get others to be benevolent on their behalf.

Comando
2019-07-17 23:30:50 UTC [Athens #the-temple-of-veethena-nike_general]  

Very liberal with the number of beatings delivered?

Comando
2019-07-18 22:42:53 UTC [Athens #the-long-walls_immigrants]  

In the first one the judge observed the very crime which he was set to judge, meaning that he was couldn't be impartial. This was too much a breach of procedure that tones of legal people sperged about it and his conviction was thrown out.

Comando
2019-07-18 22:43:10 UTC [Athens #the-long-walls_immigrants]  

Now they've just stiched him up neatly.

Comando
2019-07-18 22:48:42 UTC [Athens #the-long-walls_immigrants]  

Because it was a procederal fuck up, they just decided to... do it again...

Comando
2019-07-18 22:48:58 UTC [Athens #the-long-walls_immigrants]  

Didn't give him a jury either

Comando
2019-07-18 23:42:10 UTC [Athens #tholos_general_news]  

Works really well as contraception tbf

Comando
2019-07-18 23:52:57 UTC [Athens #the-temple-of-veethena-nike_general]  

<:thunk:462282216467333140>

Comando
2019-07-18 23:53:19 UTC [Athens #the-temple-of-veethena-nike_general]  

I remember when /pol/ yeeted threads for merely posting that image

Comando
2019-07-19 00:06:36 UTC [Athens #the-temple-of-veethena-nike_general]  

Why does Shoeonhead come to mind?

Comando
2019-07-19 00:42:24 UTC [Athens #piraeus_politics_news]  

Most terrorists are retarded. Be thankful. If they weren't retarded they might actually kill someone.

Comando
2019-07-19 01:09:16 UTC [Athens #the-writing-on-the-wall_memes]  

<:thunk:462282216467333140>

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