Message from @Just a Nice Fella

Discord ID: 800104604313845814

2021-01-16 20:46:51 UTC  

I could see that being true

2021-01-16 20:47:02 UTC  

@slavecaste prices remained rigid in the face of a huge collapse in aggregate demand due to government intervention lol

2021-01-16 20:47:20 UTC  

There was barley any government intervention in COVID

2021-01-16 20:47:23 UTC  


2021-01-16 20:47:26 UTC  

It was private central banker intervention and massive austerity

2021-01-16 20:47:28 UTC  

Keynes was based

2021-01-16 20:47:33 UTC  

Friedman wasn't

2021-01-16 20:47:55 UTC  

most recessions prior to 1945 saw deflation in CPI

2021-01-16 20:48:07 UTC  

Yeah, S&D was very flexible back then

2021-01-16 20:48:11 UTC  

Marginalism was right at one point

2021-01-16 20:48:22 UTC  

open market operations are a form of gov intervention

2021-01-16 20:48:29 UTC  

No they aren't

2021-01-16 20:48:35 UTC  

and are supported by virtually all keynesians

2021-01-16 20:48:36 UTC  

OMO's are just private central bank intervention

2021-01-16 20:48:40 UTC  

Yeah, those are monetarists not Keynesians

2021-01-16 20:48:55 UTC  

they just say they aren't enough

2021-01-16 20:49:02 UTC  

I mean literally that's true though

2021-01-16 20:49:09 UTC  

because Keynes hated central bank action for recessions

2021-01-16 20:49:11 UTC  

Friedman loved it

2021-01-16 20:49:21 UTC  

I still laugh at lolberts who blame Keynes for the mess we have now

2021-01-16 20:50:02 UTC  

not really friedmanites believe in inflation targeting, not countercyclical monetary policy

2021-01-16 20:50:10 UTC  

Friedman was a retard for rejecting ABCT

2021-01-16 20:50:10 UTC  

Yes they do

2021-01-16 20:50:10 UTC  


2021-01-16 20:50:17 UTC  

ABCT is false now

2021-01-16 20:50:21 UTC  

It's a defense for usury

2021-01-16 20:50:32 UTC  

I'm usurypilled

2021-01-16 20:50:37 UTC  

he did, where?

2021-01-16 20:50:44 UTC  

Feder's Theory of Interest <:chad:793675087064465449>

2021-01-16 20:50:55 UTC  

In his general theory and every other literature he had

2021-01-16 20:51:06 UTC  

He saw central bank action as barley demand responding for recessions

2021-01-16 20:51:40 UTC  

Keynes believed in spurring investment which open market operations precisely do

2021-01-16 20:51:41 UTC  

no you aren't

2021-01-16 20:51:45 UTC  

are you ?

2021-01-16 20:52:05 UTC  

No, he believed in socializing investment which is basically debt-free money to the government.

2021-01-16 20:52:09 UTC  

well I obviously dont think all interest is usury or whatever

2021-01-16 20:52:11 UTC  

Basically fiscal policy but no national debt

2021-01-16 20:52:31 UTC  

all interest is wrong and anti-bible

2021-01-16 20:52:47 UTC  

but I think what hammer and sickle is saying is that ABCT doesnt describe the nature of modern business cycles which I agree with but thats because of the government/central planners/private banks or whatever we want to call them

2021-01-16 20:52:58 UTC  

'hammer and sickle'

2021-01-16 20:53:06 UTC  

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