A Must Read-Economics made simple

Annie said:
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.
Click to expand...

Our ****** aka Ice Dancer is a past mistress in polemic politics
 
Last edited by a moderator:
Annie said:
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.
Click to expand...

You're using the logical fallacy of argument to authority. The nature of the federals reserve doesn't change depending on who's talking about it. Statements aren't true or false depending upon the education of the speaker.
 
Any thinking person must come to the conclusion that too many are clueless when it comes to economics and the affects on our lives and on the planet when corporations rule the world for profit at any cost, consider attitudes towards Unions and fair pay? Or consider today, the growth of autism. Watch this piece it is interesting and educational, I'm sure the wingnut brains will block any contradictory thought, but hey, give it a shot.

http://storyofstuff.com/
 
Annie said:
ICE, I agree that teaching economics to kids is very important, but I'd check out the facts. I KNOW that FED EX does NOT get a .gov access, but the FED does:

http://www.federalreserve.gov/pf/pf.htm
Click to expand...


It is an independent semi private entity set up in a collaboration between banks and the federal government. Apart from the argument of exactly what the Federal Reserve is, what else did you find wrong with the authors explanation of the monetary system?


The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. Created in 1913 by the enactment of the Federal Reserve Act (signed by Woodrow Wilson), it is a quasi-public and quasi-private (government entity with private components) banking system[1] that comprises (1) the presidentially appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) twelve regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous other private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils. Since February 2006, Ben Bernanke serves as the Chairman of the Board of Governors of the Federal Reserve System. Donald Kohn is the current Vice Chairman (Term: June 2006–June 2010).
 
Last edited:
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.
Click to expand...

Show ONE thing he said that was or is not true.
 
tom prendergast said:
They are like the bugs in the film Starship Troopers, brainless undoubtedly but remorseless in their waves of attacks.
Click to expand...

Aww jees Tom, don't feed him stuff like that. He's paranoid enough. Just give him a big bowl of pudding and plastic spoon (so he doesn't accidently hurt himself) and leave well enough alone! LOL
 
AssHatZombie said:
You're using the logical fallacy of argument to authority. The nature of the federals reserve doesn't change depending on who's talking about it. Statements aren't true or false depending upon the education of the speaker.
Click to expand...

She's not making an argument on authority. She's questioning the authors credibility.
 
Last edited:
Mottleydude said:
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".
Click to expand...

This was your dissimination that "proves" what the author said wrong? You are FOS! The gold standard kept and protected the value of goods and prevented inflation! You all think because something is explained in simple terms it is wrong? Or because someone who understands economics, but is not making his living as an economist, that he cannot dissiminate information on banking and monetary systems? So, tell us oh foolish and arrogant one are you earning your living as an economist?

http://www.321gold.com/fed/greenspan/1966.html
 
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.
Click to expand...

Holy shit, you're so fucking misinformed. what a stupid kid
 
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.
Click to expand...
Actually, its part of the centuries old debate between hard currency theorists and soft money theorists. I have never made up my mind which side is more correct nor is there a consensus in the conservative movement.
 
Southern Man said:
Actually, its part of the centuries old debate between hard currency theorists and soft money theorists. I have never made up my mind which side is more correct nor is there a consensus in the conservative movement.
Click to expand...

The split is between elitist central planners and populists, in all cases.

The power to create money and force people to value it is a totalitarian power indeed.
 
You must log in or register to reply here.
Back
Top