Monetary Policy

[Core Shot]

What say yee

Federal non federal reserve?
Endless money printing?
End of US dollar hegemony?
SDR international currency?

What is money?
What is inflation?

What is the measure of human labor?

Keynes vs Mises. No holds barred naked wrestling match.

[J. Barron DeJong]

Ahh, fuck. What have I done!

[Core Shot]

Ahh, fuck. What have I done!

Heh. It’s been a good discussion with you in the student debt thread.
But I figured it needs to be more open.

I’m open to discussion. And willing to be persuaded.

I’m second guessing my naked wrestling proposal however.

[Bunion 2020]

This doesn't belong in PR. My opinion, that is all.

[J. Barron DeJong]

This doesn't belong in PR. My opinion, that is all.

You think poly-ass? Tech talk?

[TBS]

OP should have a one-one class with “I got an A in Econ” Austin about this rather than clogging up the boards.

Or just fucking search

[Bunion 2020]

PA.

[Brownski]

Yeah, it’s PA. Monetary-fiscal-politics. It’s a straight line. Sorry

[Core Shot]

OP should have a one-one class with “I got an A in Econ” Austin about this rather than clogging up the boards.

Or just fucking search

I did search. Monetary had zero results.

I guess a mod could make this polyass but honestly it has less to do about political assholes. Both parties lay claim to doing right, but they’re both wrong.

Looking for honest discussion.

And it’s hot as fuck august. How am I clogging the boards?

[J. Barron DeJong]

PA.

Totally disagree there.

I mean, sure, anything that involves the government can turn political, and kind of by definition anything involving a country’s currency is going to involve the government.

But that said, monetary policy is largely a technical subject. I disagree with a lot of Greg Mankiw’s policy choices since he’s right leaning, but if you were to look at his text book it’s mostly going to align with what someone left leaning, like Paul Krugman, has to say on the same topics.

[Core Shot]

Is Hayek off limits? Not Selma.
The Nobel prize winner.

[Adolf Allerbush]

PA.

Yup. Move it.

[MagnificentUnicorn]

Yup. Move it.

Bullshit. It’s okay here.

[Core Shot]

PA.

Yeah, it’s PA. Monetary-fiscal-politics. It’s a straight line. Sorry

This doesn't belong in PR. My opinion, that is all.

Yup. Move it.

You weak wristed fuckstix are amusing.

We have a multi page thread on giving student loan forgiveness at the stroke of a pen. Not polyass. No way. Even though it’s highly political.

I start a thread to discuss monetary theory outside of politics and now you’re all butthurt. Wtf.

Money printer go brrrrrrrr

[Brownski]

You weak wristed fuckstix are amusing.

We have a multi page thread on giving student loan forgiveness at the stroke of a pen. Not polyass. No way. Even though it’s highly political.

I start a thread to discuss monetary theory outside of politics and now you’re all butthurt. Wtf.

Money printer go brrrrrrrr

Not butthurt, just pointing it out. Have at it

[Core Shot]

Not butthurt, just pointing it out. Have at it

At some point anything can be political.

It’s a ski forum. Somewhat.
If we start discussing forest permits and water usage it gets political
Should ski areas even exist? Jeremey Jones says you are killing the planet.

But this is the PR. It’s not even the ski chatter forum.

[old goat]

I'm in favor of printing money. I tried using wampum but it's awkward. But mostly I use a credit card, which I suppose is printed.
(I believe this is the first post in this thread that's not about which forum the thread belongs in. That's funny.)

[shroom]

money is a state of mind. it doesn’t matter if we print it if we understand the impacts and it’s favorable for the masses, all comes down to where it goes.

my last boss was an economist and i had to come clean and tell him i don’t believe in economics, people buy what’s produced for them and available.

[Harry]

Milton Friedman caused a lot of damage to our society. Plus he was only 5’0” tall.

And PolyAss JONG.

[Core Shot]

Milton Friedman caused a lot of damage to our society. Plus he was only 5’0” tall.

And PolyAss JONG.

Heh. His son David taught a class in law and economics . Even though he was a physics professor, it was very informative and interesting. Smart family.

I’m not sure why his height matters. Might as well fault him for being a Jew. But Ludvig von Mises was also a Jew.

Maybe they are naked wrestling in the afterworld

PS. Thx for the jong.

[mcski]

I'm in favor of printing money. I tried using wampum but it's awkward. But mostly I use a credit card, which I suppose is printed.
(I believe this is the first post in this thread that's not about which forum the thread belongs in. That's funny.)

Wampum was the real bitcoin

[old goat]

I don’t believe in economics, people buy what’s produced for them and available.

That's economics.

[Harry]

I did not know his religion, nor do I care. But his theories, and the government policies based on them, directly led to the stagflation of the late 70s/early 80s.

[J. Barron DeJong]

I did not know his religion, nor do I care. But his theories, and the government policies based on them, directly led to the stagflation of the late 70s/early 80s.

I thought it was Kensian thinking that led to stagflation, and the stagflation validated some of Friedman’s ideas, which I believe led to ‘New Keynesian’ theory.

“Throughout the 1960s, Keynesians—and mainstream economists generally—had believed that the government faced a stable long-run trade-off between unemploymentand inflation—the so-called phillips curve. In this view the government could, by increasing the demand for goods and services, permanently reduce unemployment by accepting a higher inflation rate. But in the late 1960s, Friedman (and Columbia University’s Edmund Phelps) challenged this view. Friedman argued that once people adjusted to the higher inflation rate, unemployment would creep back up. To keep unemployment permanently lower, he said, would require not just a higher, but a permanently accelerating inflation rate (see Phillips curve).
The stagflation of the 1970s—rising inflation combined with rising unemployment—gave strong evidence for the Friedman-Phelps view and swayed most economists, including many Keynesians. Again, Samuelson’s text is a barometer of the change in economists’ thinking. The 1967 edition indicates that policymakers faced a trade-off between inflation and unemployment. The 1980 edition says there was less of a trade-off in the long run than in the short run. The 1985 edition says there is no long-run trade-off.”

https://www.econlib.org/library/Enc/bios/Friedman.html

[old goat]

Economists are good at explaining what happened, lousy at predicting it, and really lousy at influencing it.
While politicians and central bankers setting policy based on one economic theory or another do make some difference in the outcome, by far the biggest influences on the economy are external events--the oil embargo, the pandemic, war.