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> Except that the people who disagree with your "description" would point out that they are not solved by intervention If the problem is warding off a depressi

> Except that the people who disagree with your "description" would point out that they are not solved by intervention If the problem is warding off a depression, then the solution I described is indeed a true solution. It may not be optimal, but starting to discuss optimality of the potential solutions was a little beyond the scope of the point I was making. > At best this is just delaying the inevitable Let me explain to you what a business cycle is. Here is an example long term growth trend: http://wolfr.am/17dwVbt http://wolfr.am/17dwVbt and here is the same with business cycles http://wolfr.am/1iaDMSa http://wolfr.am/1iaDMSa - if there is an inevitability, it's the trend. I can't comment on your inevitability, because you didn't actually say what it was. > at worst drastically increasing the magnitude of how bad it's going to be when it becomes impossible to delay it further Money is nominal, it has no long run effects. Everything I've described has been the use of a nominal tool in the smoothing of short-run fluctuations. The long term trend is unaffected. > If you don't buy keynesian economics and want no part of it, then for the first time in modern history it is largely possible for you to circumvent systems based around those assumptions and management strategies This is not relevant to what I said. If sufficiently large your Bitcoin utopia will suffer these problems and you won't have a solution. God help you if all your eggs are in that basket when reality strikes.

etherael 13y ago
> If the problem is warding off a depression, then the solution I described is indeed a true solution. If the problem is warding off an invocation of oomkiller at the kernel level, then just setting the jvm heap size lower is indeed a true solution. We'll just ignore the fact that it doesn't actually address the problem and the memory leak still exists and has actual consequences, because we stopped oomkiller from randomly killing innocent processes which is definitely a noble goal. Keynesian solutions have consequences, they are not magic. And they are not really solutions at all if you're not deceived by the simple sophistry of them, they're band-aids. That > The long term trend is unaffected. Is terribly amusing, I guess that's why we don't have financial crisis anymore or hyperinflation or sovereign debt defaults or poorly managed national economies or anything of the kind. > If sufficiently large your Bitcoin utopia will suffer these problems and you won't have a solution. That's because setting a shitty raft on fire so you're forced to deploy life vests instead of drowning is simply not a solution, and pretending otherwise is just stupidity masquerading as tactics. Whatever, as long as it works for you hope you're happy with it, I'm not buying.
javert 13y ago
> Money is nominal, it has no long run effects. Wow. Normally I wouldn't say something that appears this "snarky," but... I think the wrongness of this speaks for itself. This is being used as an excuse for massive manipulation of people's lives and businesses. Apparently, that has "no long run effects." Definitely reminiscent of "In the long run, we're all dead."

etherael 13y ago

> If the problem is warding off a depression, then the solution I described is indeed a true solution. If the problem is warding off an invocation of oomkiller at the kernel level, then just setting the jvm heap size lower is indeed a true solution. We'll just ignore the fact that it doesn't actually address the problem and the memory leak still exists and has actual consequences, because we stopped oomkiller from randomly killing innocent processes which is definitely a noble goal. Keynesian solutions have consequences, they are not magic. And they are not really solutions at all if you're not deceived by the simple sophistry of them, they're band-aids. That > The long term trend is unaffected. Is terribly amusing, I guess that's why we don't have financial crisis anymore or hyperinflation or sovereign debt defaults or poorly managed national economies or anything of the kind. > If sufficiently large your Bitcoin utopia will suffer these problems and you won't have a solution. That's because setting a shitty raft on fire so you're forced to deploy life vests instead of drowning is simply not a solution, and pretending otherwise is just stupidity masquerading as tactics. Whatever, as long as it works for you hope you're happy with it, I'm not buying.

javert 13y ago

> Money is nominal, it has no long run effects. Wow. Normally I wouldn't say something that appears this "snarky," but... I think the wrongness of this speaks for itself. This is being used as an excuse for massive manipulation of people's lives and businesses. Apparently, that has "no long run effects." Definitely reminiscent of "In the long run, we're all dead."