Message from @Anubis

Discord ID: 620496378690535425


2019-09-09 05:09:05 UTC  

what they do is create 900 dollars out of thin air, from the reserve of that $100

2019-09-09 05:09:10 UTC  

No, they're just allowed to loan up to that amount to minimize liability.

2019-09-09 05:09:38 UTC  

the money in essence "comes into existance" upon creation of a loan

2019-09-09 05:10:09 UTC  

There was actually a court case on this with Jerome Daly

2019-09-09 05:15:58 UTC  

To some extent, but think about how most people take out loans, especially businesses and so on. I know it sounds rather Keynesian, but up to this point for every dollar of debt we've taken on, approximately 8 dollars of productive value have been added to the economy. Think about a local store down the road that may have initially taken out a $100,000 loan, but has a marginal revenue of about half a million, perhaps more. What if they want to expand, in doing so taking on debt, in which the opportunity cost is justified, as there is no more of an efficient allocation.

2019-09-09 05:16:51 UTC  

I'm just using that as a rough example, but most debtors do not take on debt without accounting for opportunity cost - it's behavioral economics 101.

2019-09-09 05:17:17 UTC  

So, the expense accrued over time must be justified.

2019-09-09 05:18:54 UTC  

The question is whether or not the scarce resources are allocated efficiently, and in private markets that is the case.

2019-09-09 05:21:10 UTC  

at this point I dont think we're actually debating just stating different facts

2019-09-09 05:22:00 UTC  

everything we're saying is pretty much demonstrably true

2019-09-09 05:25:46 UTC  

It really doesn't matter whether or not what you're saying is true, as it leads one to the same conclusion, regardless of how you get there. Public debts, on part of excess government expenditure, is a negative in my view, supported by the observation of inefficient allocations and corruption, with heavily unionized labor fitting nicely into both, while simultaneously preventing private markets from ever arising in place of where government operates, losing out on growth potential and expanding State power, even though further debt further solidifies our ability to borrow more. Technically, we can expand our national debt limitlessly, unless everyone decides to shoot themselves in the foot and collapse their own economy, or speculators enter the market, which would likely happen inevitably, but we're far off that mark. It'd take another century of borrowing before this would occur, and that's implying the economy doesn't grow over that period of time.

2019-09-09 05:28:46 UTC  

That's the benefit of having a reserve currency by running current account deficits, which can *only* be sustained within nations that preserve property rights, not violate them (yes, I'm referencing the PRC as a regime that'll never fit the requirements), BUT there are also negatives to be observed, as I mentioned before. You have the issue of increased evaluations of USD, so you end up with trade deficits.

2019-09-09 05:35:55 UTC  

What he said. Maybe

2019-09-09 05:46:27 UTC  

Yeah, it's all the same in the end anyway.

2019-09-09 05:48:51 UTC  

@AgentExeider @Jeremy You read the <#463041536003932170>?

2019-09-09 05:49:04 UTC  

yes

2019-09-09 05:49:23 UTC  

Indeed, Anubis.

2019-09-09 05:49:42 UTC  

Enjoy

2019-09-09 05:49:51 UTC  

🎊

2019-09-09 05:50:58 UTC  

yay

2019-09-09 05:51:04 UTC  

Good convo

2019-09-09 05:51:20 UTC  

do I get a pepe stamp on my passport

2019-09-09 05:51:33 UTC  

<:Pepe_God:462291834182303744>

2019-09-09 05:51:49 UTC  

<:trumpepe:588019356215279642>

2019-09-09 05:53:01 UTC  

<:deus_vult:466354779841495040> <:Trump_Pepe2:462291833427329035>

2019-09-09 05:54:44 UTC  

Welcome to Kekistan...

2019-09-09 05:54:45 UTC  

Now... To get rid of that ACA and address the over $1 trillion in annual macro-level inefficiencies due to the government creating oligopolies within the healthcare industry by restricting market-entry and not allowing cross-state competition.

2019-09-09 05:55:09 UTC  

Crusaders!

2019-09-09 05:55:16 UTC  

âš”

2019-09-09 05:56:50 UTC  

Go to <#613767975614283832> or any of the other xeno channels. Your links will embed there

2019-09-09 05:57:42 UTC  

Ahah, there we are.

2019-09-09 05:59:59 UTC  

Ah, so the fresh meat is finished processing

2019-09-09 06:14:13 UTC  

not me

2019-09-09 06:14:14 UTC  

sadly

2019-09-09 06:14:39 UTC  

Wait your turn pleb!

2019-09-09 06:14:45 UTC  

indeed

2019-09-09 06:15:27 UTC  

Have a nice stay in the walls, you can see the degeneracy of the general chat in a bit

2019-09-09 06:16:01 UTC  

lots of twitter NPCs and redditors

2019-09-09 06:16:05 UTC  

i shall be brave