Message from @slavecaste

Discord ID: 800106379154948167

2021-01-16 20:53:06 UTC  

My emoji isn't hammer and sickle but call me cash plz

2021-01-16 20:53:06 UTC  

hammer and hammer

2021-01-16 20:53:09 UTC  


2021-01-16 20:53:22 UTC  

i assumed it was meant to represent a hammer and sickle

2021-01-16 20:53:26 UTC  

Austrians got lucky and only described 1 RECESSION throughout history

2021-01-16 20:53:29 UTC  

and that was the early 20's one

2021-01-16 20:53:46 UTC  

ive also seen empirical evidence to suggest it accurately described the great depression

2021-01-16 20:53:50 UTC  


2021-01-16 20:53:55 UTC  

Usury and Worldwide Austerity caused TGDP

2021-01-16 20:54:24 UTC  

well that may have worsened it under FDRs years but lets not forget it originally started with hoover

2021-01-16 20:54:46 UTC  

It started it

2021-01-16 20:54:51 UTC  

FDR got us out of TGDP

2021-01-16 20:54:56 UTC  

and then did Austerity and got us back in

2021-01-16 20:54:59 UTC  

fucking dumbasssss...

2021-01-16 20:55:38 UTC  

idk if he got us out do you have any articles on that?

2021-01-16 20:55:42 UTC  


2021-01-16 20:55:49 UTC  

not saying "umm provide a source" im just interested cause ive never head that

2021-01-16 20:56:15 UTC  

lol wut

2021-01-16 20:56:26 UTC  

Great article debunking Merchant Economics (Austrian) and Marxist economics

2021-01-16 20:57:06 UTC  


2021-01-16 20:57:08 UTC  

Did you not know that?

2021-01-16 20:58:45 UTC  


2021-01-16 20:59:51 UTC  

also Lord Keynes, the guy who runs the blog you linked, literally calls Austrians like Rothbard anticapitalists for being against fractional reserve banking (what I presume you would consider usury)

2021-01-16 21:00:40 UTC  

''…will be sufficient by itself to determine an optimum rate of investment. I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the only means of securing an approximation to full employment; though this need not exclude all manner of compromises and of devices by which public authority will co-operate with private initiative. But beyond this no obvious case is made out for a system of State Socialism which would embrace most of the economic life of the community. It is not the ownership of the instruments of production which it is important for the State to assume. If the State is able to determine the aggregate amount of resources devoted to augmenting the instruments and the basic rate of reward to those who own them, it will have accomplished all that is necessary…''

2021-01-16 21:00:44 UTC  

rothbard vindicated once again

2021-01-16 21:01:10 UTC  

FRB isn't usury in itself. FRB (Full Reserve Banking) actually causes deflationary monetary policy which leads into usury.

2021-01-16 21:01:18 UTC  

I believe in FRB (Fractional Reserve) with no interest

2021-01-16 21:01:49 UTC  

all that argues is that usury should be done by the state and not private business

2021-01-16 21:02:02 UTC  

:yes: but not by income tax

2021-01-16 21:02:03 UTC  

by LVT

2021-01-16 21:02:06 UTC  


2021-01-16 21:02:55 UTC  

LVT is based indeed

2021-01-16 21:03:05 UTC  

LVT is the best feudalism

2021-01-16 21:03:12 UTC  

we love our feudalism

2021-01-16 21:03:19 UTC  

every citizen a feudal lord

2021-01-16 21:13:07 UTC  

bad take

2021-01-16 21:13:39 UTC  

Personally I have come to believe that interest – or, rather, too high a rate of interest – is the ‘villain of the piece’ in a more far-reaching sense than appears from the above. But to justify this belief would lead me into a longer story than would be appropriate in this place.

Keynes, ‘Saving and Usury’, 1932

2021-01-16 21:13:41 UTC  


2021-01-16 21:17:22 UTC  

well having too high an interest rate is obviously bad but I don't think you can have an economy without interest due to the time value of money

2021-01-16 21:18:08 UTC  

you mean time preference?