A Must Read-Economics made simple

Imagine the trillion dollars collected each year from the personal income tax no longer in the hands of the government but in everybodys' hands. That's a trillion dollars more people will have and they will spend their money alot more wisely than government does. Most of the time when government spends money it goes for wasteful programs and everytime the government wants to bailout somebody they wind up just bailing out their buddies.

Imagine with no more corporate income tax, how many companies would be coming back to America to open up shop here again. There would be so many companies coming here to open up shop and creating jobs, we would probably need illegal aliens to work them.
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Why that's just magical. Magical. All our problems would be solved. We would shit gold and all the ugly conservative women in America would turn into Halle Berry's.

There is such a thing as pseudoscience when it comes to economics. We forget that economics is ultimately supposed to be a science. When you see magical claims like these, two (terrible) sources, and no proof of the authors degree, there is reason to be skeptical.
 
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Watermark said:
This is a federal reserve conspiracy theorist, not an economist. You can clearly tell by his, in the first paragraph, declaring the Federal Reserve a private company, an absurd claim. Just because it's independent doesn't make it private. It's not for profit, and it's board of supervisors is controlled by the government. Tell me one other thing called a "private corporation" by conservatives that has its board nominated by the government, and I'll give you twenty dollars.
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You can also tell by his claim that gold and silver have intrinsic value. That's non-sense. Gold has virtually no intrinsic value other than as a medium of exchange. Silver does have a lot of commercial value but it is most valuable, again, as a medium of exchange. In either case, as a medium of exchange, the same principles of economics apply to gold/silver as do to paper money. Gold and silver can have the exact same problems as paper money if people lose confidence in it as a medium of exchange or if there's to much/to little of it circulating and just as to much paper money can be printed the same can be said of gold/silver currency by just simply debasing the gold/silver currency with other metals.

Watermark, I think you would agree that this could accurately be called "Conservative Economics" on the conservative principle of "Simple solutions for simple minds".
 
Ice Dancer said:
It's a keeper! I am going to use it as part of a business math class I am going to teach over the summer to my kids.
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It's ok. The'll learn to manage facts when they go to college. Kids are resiliant and the professors should have no problems correcting this complete non-sense you'll teach them. The first time they bring up such foolishness in a college classroom they'll get laughed right out of the class and rightfully so.
 
Watermark said:
This is not economics. The author of this article is not an economist.

You can even find several conservative economists, like the monetarists. However, there is no serious economic school, based in science, that would take claims like this seriously. This is like the alternative medicine nutbags - most of whom are interested laymen who understand just a little about the field they are claiming to be an expert in, but really completely miss the target. Just a little knowledge - but not enough to know how stupid your theories are - can be a dangerous thing.
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Watermanrk...you keep forgetting the conservative credo...."Simple Solutions for Simple Minds".

Keep that credo in mind and go read the original post again. It all makes sense if your simple minded.
 
Southern Man said:
Teaching kids economics will make them retarded. Wow.
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That's a redherring. This isn't economics, it's conspiracy theory and it's laughable.

I mean conservatives print out simple minded paranoid shit like this completely based on fantasy and utterly divorced from reality and then ya'll wonder why 75% of Americans view conservatives as incompetent and unfit to govern and you wonder why? Amazing, just simply amazing.
 
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Watermark said:
Why that's just magical. Magical. All our problems would be solved. We would shit gold and all the ugly conservative women in America would turn into Halle Berry's.

There is such a thing as pseudoscience when it comes to economics. We forget that economics is ultimately supposed to be a science. When you see magical claims like these, two (terrible) sources, and no proof of the authors degree, there is reason to be skeptical.
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Icedancer is pwned by Watermark. Outstanding rebuttal Water! You've clearly won this debate by eviscerating your opponent with facts. Good job.
 
Watermark said:
This is a federal reserve conspiracy theorist, not an economist. You can clearly tell by his, in the first paragraph, declaring the Federal Reserve a private company, an absurd claim. Just because it's independent doesn't make it private. It's not for profit, and it's board of supervisors is controlled by the government. Tell me one other thing called a "private corporation" by conservatives that has its board nominated by the government, and I'll give you twenty dollars.
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If anybody wants to understand the financial system and how it came into being then watching Niall Ferguson's Ascent of Money is required viewing.

http://video.google.co.uk/videosearch?q=ascent+of+money&emb=0#
 
Watermark said:
This is a federal reserve conspiracy theorist, not an economist. You can clearly tell by his, in the first paragraph, declaring the Federal Reserve a private company, an absurd claim. Just because it's independent doesn't make it private. It's not for profit, and it's board of supervisors is controlled by the government. Tell me one other thing called a "private corporation" by conservatives that has its board nominated by the government, and I'll give you twenty dollars.
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It's a fascist entity, with input from government, and SHAREHOLDERS OF THE BANKS.
 
Mottleydude said:
That's a redherring. This isn't economics, it's conspiracy theory and it's laughable.

I mean conservatives print out simple minded paranoid shit like this completely based on fantasy and utterly divorced from reality and then ya'll wonder why 75% of Americans view conservatives as incompetent and unfit to govern and you wonder why? Amazing, just simply amazing.
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It's not a conspiracy theory you wank. It's the truth. Let's hear an argument about how it's not true.

The power to create money is a lopsided and totalitarian power.
 
ib1yysguy said:
Your kids are going to grow up to be as retarded as you if you spend the summers teaching them things like "The federal reserve is like federal express! It's totally private!! LOLZ"
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She has home schooled them since they were toddlers so I'm afraid that the brainwashing process is nigh on complete. Yet another generation of narrow minded neocons in the making.
 
tom prendergast said:
She has home schooled them since they were toddlers so I'm afraid that the brainwashing process is nigh on complete. Yet another generation of narrow minded neocons in the making.
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This place is a hive of internationalist fascist neocon fake patriots. I'm trying to deprogram them. Great post!
 
It's just the way I look at things, check out the author. In this case googling finds no reference to Michael Mitrosky in .edu domain, my guess is not an econ professor, nor expert. Googling in 'all' finds references to facebook, Ron Paul, and various boards.

I don't think I'd use this piece as an authoritative source.
 
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