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> How did the Internet get so bad? The article misses the point. The problem has its root in monetary policy. The problem is supply-side economics. Money prin

> How did the Internet get so bad? The article misses the point. The problem has its root in monetary policy. The problem is supply-side economics. Money printing and giving control of the money supply to banks has made consumers redundant appendages of the financial system. Imagine that you're the CEO of a unicorn startup or a big corporation and you constantly deal with investors, banks and customers. Which of these 3 groups do you derive most of your wealth from? Banks and investors. Banks print money and loan it out to your investors and your investors use that money to buy your company stock and drive up its price - Also, banks loan your company money directly to buy back its own stock... As an executive, if you want to maximize your bonus, banks and investors are the only two entities you really care about... Your actual customers are merely appendages; they're merely a useful metric which allows you to get more money from investors and banks. So long as all the new fiat money enters the economy through big institutions and big investors via bank loans, the consumer will always be an afterthought in the decision-making process. You're the product because you're not the source of money. Consumers don't have any money. Only institutions have money because they're printing it for free and distributing it among themselves by the trillions. That's why we need UBI (Universal Basic Income) urgently - That's the only safe way to switch to sane demand-side economics.

afarrell 6y ago
This problem is most apparent during a recession, when the central bank (rightly) strives to quickly increase the money supply by buying bonds (and apparently equities!). If instead there could be a joint policy by The Fed and the Social Security Administration, then the flow of money (and thereby attention)_could be less lopsided.
- cryptica 6y ago
  >> when the central bank (rightly) strives to quickly increase the money supply I disagree completely that central banks trying to increase the money supply is righteous in any way. I'm a value producer and this monetary policy has harmed me. I can see exactly how it has harmed me and I can see the kinds of people it has benefited and I don't agree at all. The central bank has stolen value from me and given it to my enemy.
  - afarrell 6y ago
    Okay. I don't see how you make the logical leap from "this monetary policy has harmed me and benefited people I don't like" to "this is not righteous".
    - cryptica 6y ago
      Printing of fiat money and injecting it into the economy through big government contracts and bank loans has mostly benefited large corporations. Because of their front row access to all this easy money, corporations and a handful of big VC-backed unicorn startups have had an upper hand in the market (see Cantillon effect) and they were (and still are) in every industry; this made it impossible to start my own business no matter what industry I went into. Also, I did some open source work, launched a popular project and corporations got into open source too and destroyed all possible business opportunities for me. Corporations couldn't even keep their hands off from open source. It seems that my project was blacklisted/censored somewhere because no corporation seems to have ever used my project in spite of the fact that it's very popular with startups and independent developers. I got 0 consulting contracts from any big corporations. I had discussions with some corporates who backed out in a very suspicious way for no apparent reason. And also, as a software developer I was harmed through the ongoing bureaucratization of the tech industry by big corporations and the startups who mindlessly copy them; I've witnessed the introduction of more tools, more processes and ever decreasing productivity in the industry. I could go on and on for hours about all the problems I've encountered and most of them link back to corporations and their upper hand in our fiat monetary system due to Cantillon effects.

afarrell 6y ago

This problem is most apparent during a recession, when the central bank (rightly) strives to quickly increase the money supply by buying bonds (and apparently equities!). If instead there could be a joint policy by The Fed and the Social Security Administration, then the flow of money (and thereby attention)_could be less lopsided.

cryptica 6y ago
>> when the central bank (rightly) strives to quickly increase the money supply I disagree completely that central banks trying to increase the money supply is righteous in any way. I'm a value producer and this monetary policy has harmed me. I can see exactly how it has harmed me and I can see the kinds of people it has benefited and I don't agree at all. The central bank has stolen value from me and given it to my enemy.
- afarrell 6y ago
  Okay. I don't see how you make the logical leap from "this monetary policy has harmed me and benefited people I don't like" to "this is not righteous".
  - cryptica 6y ago
    Printing of fiat money and injecting it into the economy through big government contracts and bank loans has mostly benefited large corporations. Because of their front row access to all this easy money, corporations and a handful of big VC-backed unicorn startups have had an upper hand in the market (see Cantillon effect) and they were (and still are) in every industry; this made it impossible to start my own business no matter what industry I went into. Also, I did some open source work, launched a popular project and corporations got into open source too and destroyed all possible business opportunities for me. Corporations couldn't even keep their hands off from open source. It seems that my project was blacklisted/censored somewhere because no corporation seems to have ever used my project in spite of the fact that it's very popular with startups and independent developers. I got 0 consulting contracts from any big corporations. I had discussions with some corporates who backed out in a very suspicious way for no apparent reason. And also, as a software developer I was harmed through the ongoing bureaucratization of the tech industry by big corporations and the startups who mindlessly copy them; I've witnessed the introduction of more tools, more processes and ever decreasing productivity in the industry. I could go on and on for hours about all the problems I've encountered and most of them link back to corporations and their upper hand in our fiat monetary system due to Cantillon effects.