PeakOil is You
Incongruity of economics and physics
Re: Incongruity of economics and physics
by Duende » Wed 12 Dec 2007, 12:28:54
Yeah, that's what I thought.
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Re: Incongruity of economics and physics
by jedinvest » Wed 12 Dec 2007, 17:16:01
$this->bbcode_second_pass_quote('Duende', 'Y')eah, that's what I thought.
Nice post Duende -- referring to the original post. By hitting the nail on the head, you have exposed the blank deer-in-the-headlight stare of an economic-libertarian [Mr.Bill] when they are exposed to the utter falseness of their non-sensical beliefs. Economists are our corrupt high-priests, the hitmen of the wealthy and their suckup politicians. They should have stuck to bean-counting. Their edifice is crumbling as we speak, even without peak-oil. All that was necessary is peak-corruption.
Mr.Bill's comments are still always welcome here, in fact, enjoyed immensely. But the headlight stare is just too much!
(That said, no offense meant, as I noticed that Mr.Bill is very active on investment advice. Lawyers and Economists: Sometimes you just need them on your side. ':)' )
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Re: Incongruity of economics and physics
by MrBill » Thu 13 Dec 2007, 05:41:36
jedinvest, I suggest you read this little piece about where I stand on free markets and the economy.
$this->bbcode_second_pass_quote('', ' ')Wow, I am not sure I want that free market mantle much less having to defend the excesses of capitalism?
I think there is a huge disconnect between how markets and economies SHOULD work and how they work in practice due to political interference that is carried out through the government's agents such as the central bank and treasury as well as by discretionary tax and spending priorities by the government itself.
$this->bbcode_second_pass_quote('', ' ')Wow, I am not sure I want that free market mantle much less having to defend the excesses of capitalism?
I think there is a huge disconnect between how markets and economies SHOULD work and how they work in practice due to political interference that is carried out through the government's agents such as the central bank and treasury as well as by discretionary tax and spending priorities by the government itself.
source: Trader's Corner
What I object to is when someone deliberately misinterprets my comments or creates a strawman argument by, for example, substituting 'wants are unlimited' with 'that human behavior is based solely on greed?' and then adding 'economic behavior is based on unlimited greed (i.e. personal, individualistic-minded pursuits)'. It shows a lack of understanding of how to construct an argument or effectively deconstruct one.
To be honest I am quite happy to post here, to Moderate other posts, to answer serious questions, and to share my experience in banking, treasury and finance (i.e. how the world really works), but I do not have to debate every issue to its asinine conclusion with idiots!
I am quite happy you and others disagree with me. In order for me to be successful I need to a) convince enough people around me of how the system should work (i.e. one based on principles of fiscal conservatism, prudent economics and sound financial practices), and b) have enough people that do not believe me. That way I help preserve the system, while thriving within it.
I am not saying I could not thrive in another system, but this is the one we have. I have a vested interest to thrive in this one. I am quite happy when people with a Liberal Arts education that do not understand the consequences of their economic decisions, or confuse economics with humanistic pursuits, disagree with me.
In particular I love when consumers go into debt to buy stuff they cannot afford. For one I benefit at the front-end by faster economic growth with higher salaries and bonuses for me. Secondly, I benefit when they have to pay interest on that debt, which lowers their future income, while I invest mine. And then I benefit when 'real' prices fall as they cannot afford to keep up that level of debt induced spending. Whereas my investments are higher, my purchasing power is intact, and I am ready and able to snap-up bargains.
But, of course, if I cannot convince enough people to adopt a sensible life-style based on fiscal conservatism, prudent economics and sound financial practices then the system risks terminal breakdown. I might not be as worse off as others, but it is hard to thrive when others are struggling to survive. So I need the ants and the grasshoppers!
I may be losing the argument, but I am winning what matters a lot more to me than your opinion. See you on the other side of peak my friend. Vive la difference! ; - )
The organized state is a wonderful invention whereby everyone can live at someone else's expense.
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Re: Incongruity of economics and physics
by Doly » Wed 19 Dec 2007, 15:38:02
$this->bbcode_second_pass_quote('MrBill', '
')But, of course, if I cannot convince enough people to adopt a sensible life-style based on fiscal conservatism, prudent economics and sound financial practices then the system risks terminal breakdown.
')But, of course, if I cannot convince enough people to adopt a sensible life-style based on fiscal conservatism, prudent economics and sound financial practices then the system risks terminal breakdown.
Then, I'm afraid you have lost already. Or it looks like it.
What are you doing about peak oil?
I am doing this
(click on the www button) v
I am doing this
(click on the www button) v
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Re: Incongruity of economics and physics
by MrBill » Mon 24 Dec 2007, 11:27:55
$this->bbcode_second_pass_quote('Doly', '')$this->bbcode_second_pass_quote('MrBill', '
')But, of course, if I cannot convince enough people to adopt a sensible life-style based on fiscal conservatism, prudent economics and sound financial practices then the system risks terminal breakdown.
')But, of course, if I cannot convince enough people to adopt a sensible life-style based on fiscal conservatism, prudent economics and sound financial practices then the system risks terminal breakdown.
Then, I'm afraid you have lost already. Or it looks like it.
I have lost Doly. Fare thee well... and regards from julian. Merry Christmas and all the best for 2008!
The organized state is a wonderful invention whereby everyone can live at someone else's expense.
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