wz1000

9 ms·

31.
by wz1000 6y ago
From the article > The 30% who are working under federal jobs programs will have working lives completely decoupled from the workings of the market. The movements of markets – particularly financial markets – will be irrelevant to everyo
32.
by wz1000 6y ago
You are missing all the second order impacts, such as conflict and mass migration. From the Wikipedia article you linked: > As stated, economic estimates of climate change impacts are incomplete.[31] Analysts have used integrated assessm
33.
by wz1000 6y ago
Again, you are missing the point. Yes, it is inflationary, but the inflation caused will not be the end of the world. As you admit, most of it will simply counteract the deflationary effects of unemployment and full automation.
34.
by wz1000 6y ago
You're missing the point. There is no inflation taking the no automation stage as a baseline. I.e. the scenario is workers spending $X of their employer granted salaries on goods they produce vs spending $X of basic job salaries that m
35.
Palantir Vanishes from Biden Adviser’s Biography After She Joins Campaign(theintercept.com)
14 points by wz1000 6y ago|0 comments
36.
by wz1000 6y ago
https://diem25.org/
37.
by wz1000 6y ago
Debt does not (necessarily) mean high taxes in the future. Deficit is Government spending - Tax collected. High deficits might lead to inflation. One way to control inflation would be to increase taxes(draining money out of the economy) &gt
38.
by wz1000 6y ago
It is bad when it causes excessive inflation. The "debt" in itself can never be unsustainable, since it is denominated in USD, which is a floating fiat currency that the US government controls. The US government is the source of a
39.
by wz1000 6y ago
Yes, it is true, but the difference is that the US is also a fiscal union, which is not the case with the EU, making it fundamentally unworkable in its current state. https://blogs.imf.org/2018/02/21/the-euro-
40.
by wz1000 6y ago
https://www.bertelsmann-stiftung.de/fileadmin/files/BSt/Pres...
41.
by wz1000 6y ago
That is not how this works. The value of the Euro is depressed compared to what it would be if the deficit running regions were not part of the common currency.
42.
by wz1000 6y ago
If that does not change, the Eurozone is a doomed project. In a monetary union, the regions running a surplus enjoy a massive boost due the exchange rates being depressed by the regions running a deficit, while the industries of the deficit
43.
by wz1000 6y ago
> not just borrowed but entirely given by the EU (=Germany). You can't have a workable monetary union without a fiscal union. Germany wouldn't have such a big surplus if its exports weren't massively boosted by the souther
44.
by wz1000 7y ago
See https://poseidon01.ssrn.com/delivery.php?ID=8011181001001220...
45.
by wz1000 7y ago
Taxes take money out of the economy. Government expenditure puts money into the economy. Its a basic accounting truism. The rate of inflation/deflation is proportional to the difference between the two. Think of it this way. If one day
46.
by wz1000 7y ago
The government can spend as much as it wants without needing your tax money. It doesn't matter how much money the government collects in taxes, it can spend as much as it wants regardless, because it can print as much money as it wan
47.
by wz1000 7y ago
The difference between you stuffing money under a mattress and the government doing so is that the government controls the money printers and you do not. There is no point to the government stuffing money under a mattress because it can con
48.
by wz1000 7y ago
Why the complexity of a "private, permissioned blockchain" compared to the traditional databases subject to periodic audits that the world already runs on, are proven to work and are conceptually much simpler? It seems like a solu
49.
by wz1000 7y ago
The effect of taxation is precisely the same as that of destroying money - it means that the money is no longer available for non-government entities to use. On the other side of the transaction, for the government, as you recognize, taxati
50.
by wz1000 7y ago
The government already has an infinite supply of money for itself, by virtue of being the issuer of the currency. Money supply means the money in circulation in the non-government sector. Then by definition, taxation takes money out the eco
51.
by wz1000 7y ago
The government doesn't need to tax you to get dollars to spend. They are the source of your dollars, they can will as many dollars into existence as they wish, subject to self-imposed limitations. Where do you think dollars come from
52.
by wz1000 7y ago
That is precisely what taxation is. Taxation takes money out of the economy, government spending puts money into the economy. For all intents and purposes, government spending creates money, and taxation destroys it. The government doesn&#x
53.
by wz1000 7y ago
Money enters the economy via government spending. Money leaves the economy through taxation. Governments don't need to tax in order to spend, they are the issuers of the currency.
54.
by wz1000 7y ago
The point is that the statement in the article is just plain wrong. You are advancing quite a different argument. Some junkies do in fact clean up their act, so saying that becoming a junkie is an irreversible process is also wrong.
55.
by wz1000 7y ago
> Helicopter money is irreversible since it increases the monetary base of the end-users. This is inaccurate. If the government pumps $x into the economy today, tomorrow it can take $x out by levying a tax. > He also suggested that bl
56.
by wz1000 7y ago
Just pointing out how that description applies equally well to the canonical "good guys" too.
57.
by wz1000 7y ago
> Feel free to walk me through the 'good guy' point of view of the people who invaded my home country, shot down a passenger plane, and got away with complete impunity. https://en.wikipedia.org/wiki/Iran_Ai
58.
by wz1000 7y ago
I would say is held up until 2016. After the election of Trump and the ensuing Russophobia, mainstream liberals became allied with the security state (CIA, NSA, FBI), and quickly turned on former liberal heroes like Snowden, Assange, Mannin
59.
by wz1000 7y ago
I thought the notion that Australia was a democracy was laid to rest in 1975 with the CIA's coup of Whitlam's government. https://www.theguardian.com/commentisfree/2014/oct/23/gough-... https:
60.
by wz1000 7y ago
"An internet reinvents 19th century anarchism" You might want to read "Fields, Factories, and Workshops" or "The Conquest of Bread" by Pyotr Kropotkin

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