Message from @Comando

Discord ID: 599457777479581735


2019-07-13 04:26:22 UTC  

I myself fall into being a post-Keynesian.

2019-07-13 04:26:48 UTC  

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

2019-07-13 04:27:18 UTC  

No shit. They were designed to skirt the costs of the Second World War, not to supposed an empire

2019-07-13 04:27:21 UTC  

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

2019-07-13 04:27:24 UTC  

Let alone the entire world

2019-07-13 04:27:27 UTC  

post-keynesianism seems better than mainstream econ

2019-07-13 04:27:38 UTC  

but it's important to not remove the political from political economy

2019-07-13 04:27:48 UTC  

The way things are now, if china or Saudi crash, so does every western country

2019-07-13 04:27:56 UTC  

All our eggs in on fucking basket

2019-07-13 04:27:58 UTC  

i'm not sure that the sort of prescriptions people tend to derive from post-keynes econ would be viable in the long term in a liberal state

2019-07-13 04:28:10 UTC  

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

2019-07-13 04:28:16 UTC  

Money, and debt...

2019-07-13 04:28:38 UTC  

Debt is supposed to be avoided. Under Keynes, it's the game

2019-07-13 04:29:23 UTC  

there has to be a deficit somewhere

2019-07-13 04:29:32 UTC  

We will likely have to adapt a completely different set of economics, and to do so will need to isolate that system, to prevent dependence

2019-07-13 04:29:50 UTC  

assuming net imports/exports are at zero a public sector surplus necessitates a private sector deficit and vice versa

2019-07-13 04:29:57 UTC  

Alliances are one thing, but allowing other nations into your economy isn't actually helpful, nor stable

2019-07-13 04:29:57 UTC  

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>

2019-07-13 04:30:03 UTC  

https://cdn.discordapp.com/attachments/598761542200197120/599457487158116362/20190713000629_1.png

2019-07-13 04:31:05 UTC  

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

2019-07-13 04:31:11 UTC  

Oh fuck

2019-07-13 04:31:36 UTC  

lending out money doesn't create money unless you print it

2019-07-13 04:31:50 UTC  

Uhh

2019-07-13 04:31:53 UTC  

i mean that's basically what happens

2019-07-13 04:32:21 UTC  

the only way it wouldn't mean that is if you had a reserve ratio of 100% i believe

2019-07-13 04:32:54 UTC  

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

2019-07-13 04:33:17 UTC  

Either way the system we have now isn't looking to be replaced. If anything, they want more debt, and they want to spend more of that debt on migrants

2019-07-13 04:33:38 UTC  

<:ahegon:566797166258028548>

2019-07-13 04:33:39 UTC  

yes

2019-07-13 04:33:56 UTC  

No longer is it a cushion which someday will not support us. Instead, the support is going entirely to minorities, and the very countries who we hold debt to.

2019-07-13 04:34:05 UTC  

If anyone can understand more technical documents

2019-07-13 04:34:10 UTC  

https://cdn.discordapp.com/attachments/598761542200197120/599458530025668618/money-creation-in-the-modern-economy.pdf

2019-07-13 04:34:52 UTC  

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

2019-07-13 04:35:02 UTC  

what if i don't want to read it

2019-07-13 04:35:25 UTC  

I saved it in telegram

2019-07-13 04:35:25 UTC  

lmao

2019-07-13 04:35:28 UTC  

then don't

2019-07-13 04:35:30 UTC  

you cuck

2019-07-13 04:35:57 UTC  

The first page is a summary

2019-07-13 04:36:36 UTC  

wait this is saying that they aren't using the money in their savings

2019-07-13 04:36:47 UTC  

but you can't just create money by being a bank