The most dangerous time since the Civil War

[Kinser79]

(01-11-2018, 04:23 PM)David Horn Wrote:

(01-11-2018, 03:44 AM)Kinser79 Wrote: I will not argue that each generation is the product of its parent generation.  Such is the very basis of S&H theory, Generational Dynamics and even my own theories.  What I was pointing out was that Boomers in particular take time out to lay blame at the GIs whereas in general Xers and Millies are far more likely to simply say "Boomers are fucking stupid lets do something different". 

Oh yeah. that's really different isn't it?

Actually it is. I don't hear either my generation or the Millies complaining about what Boomers have done. They are mostly too busy having to reinvent the wheel because you guys broke the old one. Boomers on the other hand are still living out their "fuck you dad" ideology in their 60s and it is to be quite frank, embarrassing.

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Kinser79 Wrote:The "Great Prosperity" was not helped by the oil shocks to be sure.  However, I see you're conviently forgetting LBJ's experiment in conducting an economy on the basis of both guns and butter during the 1960s which required the debacement of the currency twice (in 1965 with the withrawl of silver, and in 1973 with the closure of the gold window).  Both didn't happen because LBJ or Nixion got a strange bug up their ass--they were required because the US was running short of both gold and silver because everyone else could see the absurdity of these policies.

Aren't you the MMT guy? You should be glad that we finally cut the currency loose for good.

No, that is Playwrite (or as as I often call him Playdude). When I was in the final stages of Marxism I thought MMT might be a vehicle to "evolve" into a socialist paradigm because a combination of inflation and taxation would eradicate the bourgeoisie. However, reality seems to indicate that all MMT ultimately accomplishes is the blowing up of asset bubbles. Again proving that the Austrians have the best economic theories.

Theory is only useful to the extent that it explains reality.

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Kinser79 Wrote:At current Saudi Arabia and most of OPEC are only passfied by keeping oil accounts in USD (just like Gulf War II was caused by Saddam Hussein wanting to price oil in Euro), but that might not always be the case.  Iran is already selling oil in gold, Rupee and RMB.  Russia is openly selling gas in Rubles or Gold taking USD as a third option only (which has essentially lifted the sanctions against them already--only the US is still maintaining them, and there import substitution is addressing the problem).  I can't really blame the Europeans either, they have a colder climate and in winter the heat being on is quite nice.

Is there a point here?

Yes. Both Galin and I have mentioned numerous times that the petrodollar can, will and eventually must end.

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Kinser79 Wrote:That being said, I see you're ignoring the fact that baring inflating the currency, the state only can obtain money to provide social services (including war) at the expense of the private sector.  Hence why the Trump Tax Reform spells disaster for the Dims come poll time this year--and that is before we even address their baked in weaknesses and the chaos that their party is in.

Sorry, but the economy is not and never has been a zero-sum game. We just flooded the market with Trillions of dollars, and no inflation. Everything in the economic realm is situational.

There isn't inflation yet. Right now, most of that flood is churning around in the stock market. An increase in the money supply without an increase in the total number of goods necessitates that inflation will occur. That being said I do not expect inflation to occur until sometime around 2024 at the earliest. After all the last time dollars flooded in it took the greater part of a decade to reach the street and cause the stagflation you've indicated you feared.

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Kinser79 Wrote:After all it took the entire lamestream media, focusing on a special election in Alabama to get a Dim in, and he managed to just squeak in.  The whole House and a Third of the Senate are up in the Mid-terms.  Also the national polls are skewed.  State by state polls are far more accurate.

Yeah, sure.

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I've made my prediction. I'm not alone in that prediction. I fully expect once the tax reform is fully implemented that the President's popularity will increase and that the GOP will reap the rewards and GOP challengers in particular will likely be Trumpites. My hope is that this announces a long term trend of the Neo-Cons migrating back to the Dimocrat Party from whence they came.