en-us https://www.intensedebate.com/users/917704 Comments by Robert http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment814950555 Amen. I used to think he just did not get it... now I do not see how that is even possible. He has to know that what he is saying is crap. He has to know that the system he supports is not good for the masses, but only for the elites in control. But, at least I can find some pleasure in poking fun. Mon, 7 Apr 2014 13:53:49 +0000 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment814950555 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment813488615 "It is property with no promise of limited supply." You have precisely stated the root of the "money" problem today. But there was a promise, and the promise has been broken. In the 1800's a "dollar" was a weight of precious metal. The paper notes printed and circulated by the US government were backed by a measure of Silver or Gold. These gold and silver certificates were like warehouse receipts... a claim on real property. Since these notes had to be backed by precious metal in the treasury, their production had a built in limitation and their value was fairly constant. The dollar of today does not measure up to those of the 1800's. The purchasing power of a "real" dollar from the 1800's is far greater than the purchasing power of a paper dollar printed today. It was much more difficult for the government to steal purchasing power from the people when we had hard money. That is why the government has replaced hard money with fiat currency. Now they can take as much purchasing power as they want by creating dollars out of thin air. Creating dollars out of thin air does not add purchasing power, it transfers it from others. As new dollars are created out of thin air, all other existing dollars lose purchasing power. If your neighbor steals your car, would you think it “no big deal” because he never promised not to? You can tell yourself that the dollar you put between your mattresses in 1980 is the same today as it was back then… when a loaf of bread was $0.48, gas $1.03, milk $1.60, Hershey’s chocolate bar $.25, and a McDonald’s cheeseburger $.43. Yeah, it’s the same dollar… I’ll gladly trade you the $50,000 car for the $43,000 damaged version… if you will also accept $50,000 modern paper dollars in exchange for $43,000 face value coins from the 1800’s. ;-) Thu, 3 Apr 2014 15:10:06 +0000 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment813488615 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment813142091 You are correct. The conversation should not be so difficult. However, it is the same car. Same Make, same Model, same Color, VIN Number, and the same exact functionality. The car never left the drive. It is just damaged and "worth less" after the damage, due to the actions of a neighbor, just as the US Dollar is damaged and "worth less" due to the actions of the US Government. If a tree fell on a crisp new US $100 bill, the wrinkles in the paper would not damage the value of the bill... but doubling the quantity of US Dollars would. Is it safe to say that you would not be comfortable with the government taking half of the US Dollars out of your bank account, but, because value is subjective, you are perfectly comfortable with the government doubling the total amount of US Dollars and passing out the new US Dollars to everyone but you? Wed, 2 Apr 2014 18:20:55 +0000 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment813142091 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment813104840 Now that is an interesting point. Let us say you own a nice car worth about $50,000 that you keep parked in your driveway. Let us also say that your neighbor was trimming his tree and one of the branches fell onto your car, scratching the paint, denting the hood and front fenders, but leaving the car fully operational. What would you do? Would you tell the neighbor not to worry about it because you still have the same fully functioning car, it just happens to be worth $43,000 instead of $50,000? Maybe you would. Maybe you would just take a deep breath, put on a smile, and let it go. However, I think the vast majority of people do believe they have a right to the value of their property and they take it quite seriously when someone damages the value of their property. In this example, we are talking about a car that you are not forced to own or use for transportation. In the case of the US Dollar, it is the medium of exchange mandated by the US government... we have little choice but to use it. Is it too much to ask that they do not intentionally destroy the value of the dollar they force us to use? Wed, 2 Apr 2014 16:18:06 +0000 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment813104840 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment813090532 Paul Krugman must be dumbfounded by the behavior of major retailers like Wal-Mart and Best Buy who try to use “lower prices” to attract customers. Maybe Krugman should open his own retail outlet and show these numb-skulls how the market REALLY works… in his head. He could build his whole marketing strategy around a targeted 2% annual price increase that becomes an 8% to 12% annual price increase. Or, to keep it simple for the simple, a 1% per month price increase. “Shop at Krugman’s today and avoid our higher prices tomorrow.” “Spend Money. Have Less.” “Krugman’s, your broker faster partner.” Wed, 2 Apr 2014 15:28:01 +0000 http://mises.org/preview/6709/Deflating-the-Deflation-Myth#IDComment813090532 http://mises.org/daily/6705/A-Closer-Look-at-IncomeInequality-Statistics#IDComment812364732 From what I have seen, Productivity Inequality is far worse than Income Inequality. In the United States, millions of able-bodied people produce nothing (but babies) and yet still receive an income... If the the people running the government can find a way to wipe out the Productivity Gap (instead of subsidizing it) then maybe I would be willing to let them take a stab at the Income Gap. What is it called when someone does nothing over and over again and expects increasing financial results? Mon, 31 Mar 2014 20:46:27 +0000 http://mises.org/daily/6705/A-Closer-Look-at-IncomeInequality-Statistics#IDComment812364732 http://mises.org/daily/6339/The-Equilibrium-of-Fear#IDComment548447161 The point of my post was that this was not much of a concession. I have nothing against Rothbard, he is one of my favorite authors. I have nothing against Rajsic or this fine article. All I'm saying is that the concession mentioned is trivial. It is equivalent to conceding that the sun shines or that rain falls. It is so obvious that it is hardly worth mentioning. I think it is clear to all thinking people that there is no shortage of men who would work together to rob and rule over others and resort to violence or threat of violence to achieve these ends. It is hardly a concession to accept this fact. Sat, 19 Jan 2013 17:34:29 +0000 http://mises.org/daily/6339/The-Equilibrium-of-Fear#IDComment548447161 http://mises.org/daily/6339/The-Equilibrium-of-Fear#IDComment546544712 Governments do exist, therefore, Rothbard MUST concede, “there can be no absolute guarantee that a purely market society would not fall prey to organized criminality." Failure to concede this point would be equivalent to denying the existence of governments all over the world. Thu, 17 Jan 2013 16:27:42 +0000 http://mises.org/daily/6339/The-Equilibrium-of-Fear#IDComment546544712 http://mises.org/daily/6337/ABCT-Limits-and-Applications#IDComment540764112 I have zero support for inflation of the money supply through printing or digital means. It should NEVER have been allowed or tolerated. Unfortunately, deflating the money supply has one very serious consequence. The amount of debt created by our government, the debt that we will be forced to pay off, would have to be paid back with paper dollars that may have much more value than the paper dollars borrowed. The productive would be punished even more than they are today. Our government, all governments for that matter, should NOT be allowed to "create" or borrow money under any circumstances. Additionally, whatever quantity of "money" that is currently circulating should be tied back to the gold reserves... whatever is left of them. Even if it were tied to gold at $1 to 1/5,000 of an ounce it would be better than what we have today. Our medium of exchange should be stable in both quality and quantity. If we have stable money and if our government could only spend what they were able to steal from the people who put them in power... there would be no need for a CPI. Thu, 10 Jan 2013 18:52:45 +0000 http://mises.org/daily/6337/ABCT-Limits-and-Applications#IDComment540764112 http://mises.org/daily/6337/ABCT-Limits-and-Applications#IDComment540618209 Good comment. Maybe it is not safe to assume that all people posting comments here are Austrians with a full and complete understanding. I know I don't understand it all. It may be safer to assume that all people reading and posting comments here are at different levels of understanding and are (hopefully) in the process of learning and unlearning. The more I learn, the more I realize I have a lot more to learn. I remember not long ago I read that unemployment was voluntary. The statement sounded crazy! It sounded so crazy that I could not process it at the time. Eventually, after a lot more reading, the statement began to make sense. A teaspoon of sugar... unless they are socialists or Keynesians. Thu, 10 Jan 2013 15:10:56 +0000 http://mises.org/daily/6337/ABCT-Limits-and-Applications#IDComment540618209 http://mises.org/daily/6334/Pork-The-Governments-Other-White-Meat#IDComment538814937 I have heard about the wonderful beef in Argentina. Maybe some day I will get to try it. Have a nice day. Tue, 8 Jan 2013 16:49:07 +0000 http://mises.org/daily/6334/Pork-The-Governments-Other-White-Meat#IDComment538814937 http://mises.org/daily/6334/Pork-The-Governments-Other-White-Meat#IDComment538736802 Very interesting article. In 1989 I moved from the US to Germany. It was a huge culture shock. But one of the things that stood out the most was how GOOD their Pork dishes were. In Wittlich they have an annual Pork festival and the food is FANTASTIC! I thought they (the Germans) must have a very special kind of Pig and they must feed them and treat them very well for the Pork to taste so wonderful. Now I wonder if their pork tasted so great only in comparison to US pork. My favorite was a pork steak about 3/4" thick that had been marinated for 24 hours and then cooked over an open fire on a swinging grill. This pork steak was served on Brotchen with Senf (mustard). Simple and Delicious. I think I'm going to have to find a new source for Pork... Tue, 8 Jan 2013 14:35:19 +0000 http://mises.org/daily/6334/Pork-The-Governments-Other-White-Meat#IDComment538736802 http://mises.org/daily/4574/Kingdom-Come-The-Politics-of-the-Millenium#IDComment524832707 Some good points John. Also often overlooked or ignored is the fact that Jesus said he has been given all authority in heaven and on earth (Matt. 28:18). So he already is "king" even though he has comparatively few dedicated followers. Fri, 21 Dec 2012 14:30:33 +0000 http://mises.org/daily/4574/Kingdom-Come-The-Politics-of-the-Millenium#IDComment524832707 http://mises.org/preview/6151/Keynesianism-vs-the-GoldCoin-Standard#IDComment429307892 Good article. Entertaining conclusion. I think I laughed out loud... "The ones who are not smart enough to major in economics major in politics and become politicians. ... The bankers hire the economists to tell the politicians what to think." Mon, 27 Aug 2012 13:36:11 +0000 http://mises.org/preview/6151/Keynesianism-vs-the-GoldCoin-Standard#IDComment429307892 https://mises.org/preview/6155/Clamping-Down-on-the-Joneses#IDComment426187498 Joneses get Smaller Mansions = Joneses pay Less Taxes? Joneses pay Less Taxes = "Government" schools get less money? "Government" schools get less money = "Government" schools get worse? "Government" schools get worse = Joneses send child to private school? Joneses send child to private school = "Poor" people try to keep up with the Joneses? Those evil Joneses will never stop flaunting their wealth until the government takes it from them and forces them to live the same "normal" life less productive people live... Maybe the government could just demand everyone be equally unproductive so that we could all live equally miserable lives. Tue, 21 Aug 2012 22:31:32 +0000 https://mises.org/preview/6155/Clamping-Down-on-the-Joneses#IDComment426187498 http://mises.org/preview/6148/Buy-Team-America#IDComment423608254 The point of the tariff is NOT to impose correct moral order... that is just the reason used to justify the tariff by those collecting the money. If they can impose the tariff, they can end slavery. Clearly the point of the tariff is for the government to profit from slavery... just as they do today with smoking... if they ban it, they can't make money from of it. I do not deny that morals are very important in life and I don't know anybody who has. Nobody suggested throwing out laws of nature or natural law. Nobody suggested that the guy with the best weapons should go around and kill everyone. Nobody suggested that Economic principles or laws define the value of human life. Nobody suggested that "economics" was a way of providing "collective justice" (whatever that means) in the long or short run. What's with all the straw men? Fri, 17 Aug 2012 15:08:56 +0000 http://mises.org/preview/6148/Buy-Team-America#IDComment423608254 http://mises.org/preview/6148/Buy-Team-America#IDComment422959942 Are you suggesting that it would be better if the government had profited from slavery (through tariffs)? I do not think it is a good idea for a government to have a financial incentive to perpetuate something as evil as slavery. I also do not think Mises suggests that one must be amoral to understand economics or that economics requires one to be amoral. I think he believed that economics is not capable of addressing moral issues. If an evil hateful man has a good understanding of economics, he can use this knowledge to repress others. If a moral caring man has a good understanding of economics, he can use this knowledge to help others. The laws of economics do not change based on our morals any more than the law of gravity. Thu, 16 Aug 2012 15:34:53 +0000 http://mises.org/preview/6148/Buy-Team-America#IDComment422959942 http://mises.org/preview/6135/The-Only-International-Economic-Policy-That-a-Country-Needs#IDComment413071363 "giving GM government money and bailout promises is just as bad for Ford as it would be for Germany giving those same advantages to Volkswagon" On the sales side it might be just as bad, but I think it is worse for Ford when the US Government bails out and protects GM... because Ford will not only have to compete with GM, but to some degree, Ford will also have to fund the bail out. "Imagine if the US government dropped all restrictions" Wouldn't that be the life! We (all of us in the US) would then have access to the best stuff the world has to offer, and at the best prices! Sure Ford and GM may have to clean up their act to stay in business, but that would be good for everyone, including those who have artificially high wages. Sure, thier wages and benefits may be cut, many may lose their jobs if they refuse the cuts in pay and benefits, but their cost of living will go down. Wed, 1 Aug 2012 12:49:09 +0000 http://mises.org/preview/6135/The-Only-International-Economic-Policy-That-a-Country-Needs#IDComment413071363 http://mises.org/preview/6135/The-Only-International-Economic-Policy-That-a-Country-Needs#IDComment412392281 I'm not sure I understand your post. In what way are the "exporting nations" costs increased? If I make and sell widgets, and one of the countries I sell to imposes tariffs on my products, how does that do anything to my costs? I may sell less products to that country due to the tariffs their subjects are forced to pay in addition to the selling price, but I don't see where my "costs" go up or the "costs" for the government ruling over the nation I live in. Please explain. Thanks. Tue, 31 Jul 2012 14:16:14 +0000 http://mises.org/preview/6135/The-Only-International-Economic-Policy-That-a-Country-Needs#IDComment412392281 http://mises.org/preview/6093/Trade-Deficits-and-the-Freedom-of-Choice#IDComment389847431 "The law of comparative advantage states that a country will profit by specializing in the production of goods in which it has a comparative advantage and trading for goods in which it does not have a comparative advantage." Clearly the US has a comparative advantage when it comes to printing paper dollars. No wonder the paper dollar is our number one export! Tue, 26 Jun 2012 14:11:47 +0000 http://mises.org/preview/6093/Trade-Deficits-and-the-Freedom-of-Choice#IDComment389847431