I would like to urge the Mises Institute to print up T-Shirts of Mr. Dowd's "Keynesian Economics Demystified" slide. Thanks for a great summary of a great mess.
Ah yes, the Mises Institute. The economic institution that unaccountably also spreads ideas of the Lost Cause, Pearl Harbor conspiracy theories, that vaccines cause autism, that HIV is not the cause of AIDS, that America shouldn't have fought against the Axis in WWII, and that, get this, Einstein's theory of relativity is a lie perpetuated by the state. In other words, get out while you can.
At the year 2013 was discovered The Progressive Growth of Money Supply Principle, which say you how much the Money Supply must growth, i.e., the quantity of money that markets needs: ruclips.net/video/iiKr-i022mY/видео.html Once the Fractional Reserve Banking is forbidden, if the Central Bank increases the money supply by an amount equal to the sum of interest generated by the financial system during the preceding period, the market interest rate will be the natural interest (Wicksell) and we won't have bubbles (tulips, gold, stocks, etc.) and crisis. Thanks to the Progressive Growth of the Money Supply Principle we know today that it is impossible to return to the Gold Standard. The Principle will force Central Banks to change de monetary policies. To control inflation we need to control de Money Supply.
“Lots of zombies, and lots of unicorns”. I think I prefer this over malinvestments also like the discussion of risks: current policies encourage tail risks and will transfer them from those who create them to others, i.e., us. That’s a recipe for a catastrophic outcome.
24:06 - Alan Watts used this in one of his talks: That’s why Zen teachers use shock treatment: to sometimes-why they hit people, or shout at them, or create a sudden surprise-because it is that jolt that suddenly brings you here. See, there’s no road to here, because you’re already there. And if you ask me, “How am I going to get here?” it will be like the famous story of the American tourist in England, who asked some yokel the way to Upper Tottenham-a little village-and the yokel scratched his head and he said, “Well, sir, I don’t know where it is, but if I were you, I wouldn’t start from here.” 45:30 - Taxation was unpopular, so legislators created a tax-free solution, a fiscal holy grail: helicopter money. This allowed legislators to covertly fund their favourite projects.
39:05 the bridge is part of "Atlanterhavsveien", which is a road in the mid-west in Norway, and even though it looks as if it's not complete it actually is.
Ah yes, the Mises Institute. The economic institution that unaccountably also spreads ideas of the Lost Cause, Pearl Harbor conspiracy theories, that vaccines cause autism, that HIV is not the cause of AIDS, that America shouldn't have fought against the Axis in WWII, and that, get this, Einstein's theory of relativity is a lie perpetuated by the state. In other words, get out while you can.
Great talk - love to listen to it. If possible I'd like to hear some more about the European Central Bank - especially about that TARGET2-problem... Thxx.
I suppose, because of that en.wikipedia.org/wiki/Final_Solution. Final solution usually has a strong connotation with the event described in the article.
About the aberration of negative interest rate, a different viewpoint could be the following: saving is a way to delay consumption of ephemaral goods, and (due to decreasing marginal utility of consumption) an agent could favor consuming 1 unit today and 0.8 unit tomorrow instead of binging all the 2 units today and being left with nothing tomorrow. It might be paradoxical, but is nonetheless an ontological approach to the nature of saving and postponement of consumption.
I'm really scared guys. How am I, a young single blue collar worker, supposed to protect myself against the coming economic collapse? It's pretty much hopeless to try and use political power to reverse the speeding train towards oblivion, so at this point what are we to do as individuals?
C Bell research sound money; gold, and Bitcoin, a favourite podcasters for me on this is Stephan Livera’s and What Bitcoin Did , a very informative episode Vijay Boyapati bullish case for bitcoin. But don’t stop there keep researching many great people out there. Research led me to be very interested in Austrian economics and the Mises institute. Learn and share 1 mind at a time can make a big difference to the future ❤️
Hopefully you can live in or move to a smallish town, it's more likely that people will band together in the smaller communities. The big cities will be very dangerous I'm thinking.
Very good, all of it makes sense to me. Just the bridge example was a poor choice. I remember that it's a real bridge in use somewhere, it just curves to the right, so the other half is hidden in that spesific perspective.
I understand his point about monetary stimulus causing more harm than good historically, but Im not sold completely. Monetary stimulus that is closely regulated to assist the poor and small businesses can be very effective. But when there is very poor regulation, most of the stimulus just ends up in the hands of the wealthy, who use it to inflate the value of their assets. It seems like there just needs to be more monitoring of how this money is spent and sharp penalties on the people/ businesses that take advantage of it when they dont need itm
Keynesian's have literally been making this same argument for more than a hundred years. Central-planning has underperformed the free-market strategy every time. The late 1800's was a moment where prices actually fell while GDP performed outstandingly. Now, people are under the impression that rising prices is a good thing, (which is absolute nonsense). Nowhere, in the history of debasing currencies has it ever lead to anything good. Whether you look at the French/Roman empire or the continental currency of the 1700's it all ended with a doomsday.
@@billmelater6470 Dollar just happens to be the most traded currency for bitcoin, atm, at this location. Yuan, en, or peso, or euro, they all have their own bitcoin price. They are ultimately independent, yet somewhat corrolary to the dollar price. Each of them may go to infinity, one at a time, depending on the money printing speeds of the respective central banks. Not at all the same, but generally moves in the same direction. Dollar price goes up? So does all the rest. **** country bans bitcoin? Bitcoin price in ***** shoots way up (it goes into the black market and gets expensive and dangerous). **** country prints way more currency? Bitcoin price in **** shoots up way faster than the rest of the world again.
This guys is just using all the same talk points. Today we r in such a different situation. With the workforce being 42% of society, the money has been sucked up and spent.
At the year 2013 was discovered The Progressive Growth of Money Supply Principle, which say you how much the Money Supply must growth, i.e., the quantity of money that markets needs: ruclips.net/video/iiKr-i022mY/видео.html Once the Fractional Reserve Banking is forbidden, if the Central Bank increases the money supply by an amount equal to the sum of interest generated by the financial system during the preceding period, the market interest rate will be the natural interest (Wicksell) and we won't have bubbles (tulips, gold, stocks, etc.) and crisis. Thanks to the Progressive Growth of the Money Supply Principle we know today that it is impossible to return to the Gold Standard. The Principle will force Central Banks to change de monetary policies. To control inflation we need to control de Money Supply.
Good lecture! Funny though how Randall Wray and the Modern Monetary Theorists/Post-Keynesians correctly predicted in 2010 that QE wouldn’t be hyperinflationary (proving the Austrians wrong) and also wouldn’t work (proving the New Keynesians wrong). QE is just an asset swap between bonds and shares, and the only people who got that right were the Post-Keynesians.
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
Deserves a Trillion views
I would like to urge the Mises Institute to print up T-Shirts of Mr. Dowd's "Keynesian Economics Demystified" slide. Thanks for a great summary of a great mess.
Ah yes, the Mises Institute. The economic institution that unaccountably also spreads ideas of the Lost Cause, Pearl Harbor conspiracy theories, that vaccines cause autism, that HIV is not the cause of AIDS, that America shouldn't have fought against the Axis in WWII, and that, get this, Einstein's theory of relativity is a lie perpetuated by the state. In other words, get out while you can.
Richard S. Guilt by association?
@@Richard_is_cool nice strawman you set up there.
@@Richard_is_cool Einsten's theory of general relativity isn't exactly right, we know this because of quantum
Great points. Along with the rights of speech and self defense we need a right to alternative kinds of money.
You mean a right to "Sound Money" and a ban to Central Banks especially the corrupt and fraudulent so called Federal Reserve - what a misnomer.
Agorism ftw
@@mktwatcher In a way, the right to sound money exists in the commandment, Thou shall not steal.
At the year 2013 was discovered The Progressive Growth of Money Supply Principle, which say you how much the Money Supply must growth, i.e., the quantity of money that markets needs: ruclips.net/video/iiKr-i022mY/видео.html Once the Fractional Reserve Banking is forbidden, if the Central Bank increases the money supply by an amount equal to the sum of interest generated by the financial system during the preceding period, the market interest rate will be the natural interest (Wicksell) and we won't have bubbles (tulips, gold, stocks, etc.) and crisis. Thanks to the Progressive Growth of the Money Supply Principle we know today that it is impossible to return to the Gold Standard. The Principle will force Central Banks to change de monetary policies. To control inflation we need to control de Money Supply.
49:50 The task at hand- Restore commodity money (gold silver), END THE FED, and role back the state.
“Lots of zombies, and lots of unicorns”. I think I prefer this over malinvestments
also like the discussion of risks: current policies encourage tail risks and will transfer them from those who create them to others, i.e., us. That’s a recipe for a catastrophic outcome.
Brilliant , absolutely brilliant. A beating drum !
Agree completely!
God, Keynes was a jerk.
24:06 - Alan Watts used this in one of his talks:
That’s why Zen teachers use shock treatment: to sometimes-why they hit people, or shout at them, or create a sudden surprise-because it is that jolt that suddenly brings you here. See, there’s no road to here, because you’re already there. And if you ask me, “How am I going to get here?” it will be like the famous story of the American tourist in England, who asked some yokel the way to Upper Tottenham-a little village-and the yokel scratched his head and he said, “Well, sir, I don’t know where it is, but if I were you, I wouldn’t start from here.”
45:30 - Taxation was unpopular, so legislators created a tax-free solution, a fiscal holy grail: helicopter money. This allowed legislators to covertly fund their favourite projects.
Amazing talk, deep on substance
39:05 the bridge is part of "Atlanterhavsveien", which is a road in the mid-west in Norway, and even though it looks as if it's not complete it actually is.
Leftists be like: "hahaha everything but Keynesianism and MMT is unscientific and not based in facts xDDDD money printer go brrrr rofl"
What an amazing video!
Ah yes, the Mises Institute. The economic institution that unaccountably also spreads ideas of the Lost Cause, Pearl Harbor conspiracy theories, that vaccines cause autism, that HIV is not the cause of AIDS, that America shouldn't have fought against the Axis in WWII, and that, get this, Einstein's theory of relativity is a lie perpetuated by the state. In other words, get out while you can.
@@Richard_is_cool Links?
Great talk - love to listen to it. If possible I'd like to hear some more about the European Central Bank - especially about that TARGET2-problem... Thxx.
What were they laughing about at 37:22?
I suppose, because of that en.wikipedia.org/wiki/Final_Solution. Final solution usually has a strong connotation with the event described in the article.
About the aberration of negative interest rate, a different viewpoint could be the following: saving is a way to delay consumption of ephemaral goods, and (due to decreasing marginal utility of consumption) an agent could favor consuming 1 unit today and 0.8 unit tomorrow instead of binging all the 2 units today and being left with nothing tomorrow. It might be paradoxical, but is nonetheless an ontological approach to the nature of saving and postponement of consumption.
It is called delayed gratification.
I'm really scared guys. How am I, a young single blue collar worker, supposed to protect myself against the coming economic collapse? It's pretty much hopeless to try and use political power to reverse the speeding train towards oblivion, so at this point what are we to do as individuals?
C Bell research sound money; gold, and Bitcoin, a favourite podcasters for me on this is Stephan Livera’s and What Bitcoin Did , a very informative episode Vijay Boyapati bullish case for bitcoin. But don’t stop there keep researching many great people out there. Research led me to be very interested in Austrian economics and the Mises institute. Learn and share 1 mind at a time can make a big difference to the future ❤️
Hopefully you can live in or move to a smallish town, it's more likely that people will band together in the smaller communities. The big cities will be very dangerous I'm thinking.
Very good, all of it makes sense to me. Just the bridge example was a poor choice. I remember that it's a real bridge in use somewhere, it just curves to the right, so the other half is hidden in that spesific perspective.
From Norway 🙂
Predicted 2023
I understand his point about monetary stimulus causing more harm than good historically, but Im not sold completely.
Monetary stimulus that is closely regulated to assist the poor and small businesses can be very effective.
But when there is very poor regulation, most of the stimulus just ends up in the hands of the wealthy, who use it to inflate the value of their assets.
It seems like there just needs to be more monitoring of how this money is spent and sharp penalties on the people/ businesses that take advantage of it when they dont need itm
Keynesian's have literally been making this same argument for more than a hundred years. Central-planning has underperformed the free-market strategy every time. The late 1800's was a moment where prices actually fell while GDP performed outstandingly. Now, people are under the impression that rising prices is a good thing, (which is absolute nonsense). Nowhere, in the history of debasing currencies has it ever lead to anything good. Whether you look at the French/Roman empire or the continental currency of the 1700's it all ended with a doomsday.
Stimulate a way!
We have bitcoin now.
I dont care what you do! Welcome to the free market!
But isn't bitcoin's value quantified by the dollar? I'm not actually all that knowledgeable about bitcoin.
@@billmelater6470 Dollar just happens to be the most traded currency for bitcoin, atm, at this location. Yuan, en, or peso, or euro, they all have their own bitcoin price. They are ultimately independent, yet somewhat corrolary to the dollar price. Each of them may go to infinity, one at a time, depending on the money printing speeds of the respective central banks. Not at all the same, but generally moves in the same direction. Dollar price goes up? So does all the rest. **** country bans bitcoin? Bitcoin price in ***** shoots way up (it goes into the black market and gets expensive and dangerous). **** country prints way more currency? Bitcoin price in **** shoots up way faster than the rest of the world again.
Lmao the YEN is rallying at this very moment thanks to that.
Trees don't grow that fast.
This guys is just using all the same talk points.
Today we r in such a different situation.
With the workforce being 42% of society, the money has been sucked up and spent.
At the year 2013 was discovered The Progressive Growth of Money Supply Principle, which say you how much the Money Supply must growth, i.e., the quantity of money that markets needs: ruclips.net/video/iiKr-i022mY/видео.html Once the Fractional Reserve Banking is forbidden, if the Central Bank increases the money supply by an amount equal to the sum of interest generated by the financial system during the preceding period, the market interest rate will be the natural interest (Wicksell) and we won't have bubbles (tulips, gold, stocks, etc.) and crisis. Thanks to the Progressive Growth of the Money Supply Principle we know today that it is impossible to return to the Gold Standard. The Principle will force Central Banks to change de monetary policies. To control inflation we need to control de Money Supply.
Ate the Fed
Simple as
Dowd died on march 1 after a car accident.
As far as I know, I didn't. Kevin Dowd
@@kevindowd7327 perfect response.
Good lecture! Funny though how Randall Wray and the Modern Monetary Theorists/Post-Keynesians correctly predicted in 2010 that QE wouldn’t be hyperinflationary (proving the Austrians wrong) and also wouldn’t work (proving the New Keynesians wrong). QE is just an asset swap between bonds and shares, and the only people who got that right were the Post-Keynesians.
Bitcoin fixes this....