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Index » Internet/Computer » The Web » Economix Page: Previous  1, 2, 3, ... 171, 172, 173  Next
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kurtster
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Posted: Apr 18, 2013 - 6:51am

 sirdroseph wrote: 

This is also good evidence for why you should release your data online, so it can be probably vetted. But beyond that, looking through the data and how much it can collapse because of this or that assumption, it becomes quite clear that there's no magic number out there.


Interesting ...

I argued in a Macro Econ class about the errors in gubmit forecasts that deliberately omit the cannabis reality of it being the largest cash agricultural crop in this country.

Legal or not, like it or not, cannibus is a bigger domestic crop than corn, wheat or soy.  To omit that reality is going to skew numbers, all kinds of numbers.
Got an A in that class, and I have since seen the prof and helped him get some glasses.  Damn its a small world.  We had a little chuckle about that moment.  I was the old fart in the class and turned some heads on the kids in the class with my question / comment.  He was glad I brought up the point.  It was something he couldn't bring up himself for obvious reasons, but he made it quite clear that he is a parrot head when he introduced himself at the beginning of the class.  He's a cool guy in his early 60's.

Just a happy little anecdote to share.

{#Good-vibes}
sirdroseph
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Posted: Apr 17, 2013 - 4:52am


Shocking Paper Claims That Microsoft Excel Coding Error
Is Behind The Reinhart-Rogoff Study On Debt




rexi

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Posted: Apr 16, 2013 - 11:44pm

Radical Centrism: Uniting the Radical Left and the Radical Right

Pragmatic Centrism Is Crony Capitalism
for all Nassim Taleb fans.


kurtster
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Posted: Apr 15, 2013 - 5:44pm

 arighter2 wrote:
Profit taking?

 

What I have heard and only from the fringe is its all about Cyprus.  I searched it last Thursday to see if it was correct.

It came out last week that the IMF and the Eurozone has ordered Cyprus to sell 10 tons of gold ($500 B / €400) as part of its bailout to the IMF.  Citibank started selling off big on Friday and here we are today.  Everyone else is selling off at once because of this unnatural glut of gold.  I was just talking yesterday that gold would hit $1400 real quick and if it got under $1300 it might be time to start buying.  But I had no idea that it was gonna go there overnight.  I thought by the end of the week.  This is unrelated to the stock market which was still climbing while gold and silver had been sliding gently for the past week.

The MSM talking heads are saying that it is related to a global deflation advancing because of a crappy global economy.  No mention of Cyprus whatsoever.  Most curious to ignore 10 tons of gold being forced onto the open market.  Another manipulated bubble bursting prematurely or by design ?

My basic thoughts so far.

Edit: Gold has dropped $25 since I first put this up.  Its now $1325.
$1000 by Friday ?


arighter2
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Posted: Apr 15, 2013 - 4:56pm

 kurtster wrote:
So gold has dropped $250 in the past week to $1350 and silver went down about $6 to $22.

I have been watching the news closely as I'm a coin collector.  Clearly a big part of economics regardless of bent.

I have a notion as to why but it has not been mentioned once anywhere in the US MSM including even FNC and FBC.

Just curious if anyone else has a take or cares to discuss it ?

  Profit taking?


kurtster
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Posted: Apr 15, 2013 - 4:23pm

So gold has dropped $250 in the past week to $1350 and silver went down about $6 to $22.

I have been watching the news closely as I'm a coin collector.  Clearly a big part of economics regardless of bent.

I have a notion as to why but it has not been mentioned once anywhere in the US MSM including even FNC and FBC.

Just curious if anyone else has a take or cares to discuss it ?
rexi

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Posted: Apr 15, 2013 - 12:34pm


rexi

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Posted: Apr 13, 2013 - 11:22am

 miamizsun wrote:

great video

i just watched this (thru my youtube feed) and came here thinking i should post it...

i recommend it
 
Since when does bankruptcy qualify as balance sheet repair?
hippiechick
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Posted: Apr 11, 2013 - 6:29am

How Hackers Could Burst The Bitcoin Bubble


miamizsun

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Posted: Apr 7, 2013 - 10:02am

 Lazy8 wrote:
How do economies recover from recessions? This is a fascinating look at the history of recessions and different strategies in response to them.

Not surprisingly, ours isn't one of the ones that works.



 
great video

i just watched this (thru my youtube feed) and came here thinking i should post it...

i recommend it

Lazy8
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Posted: Apr 7, 2013 - 9:27am

How do economies recover from recessions? This is a fascinating look at the history of recessions and different strategies in response to them.

Not surprisingly, ours isn't one of the ones that works.


miamizsun

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Posted: Apr 2, 2013 - 11:27am

 black321 wrote:
yeah, brilliant indeed.  The economy needs us to consume more stuff, mostly imported from overseas, rather than invest in new technologies and businesses that provide real long term returns. 

 
you mean borrowing and spending on weapons of mass destruction and paying interest to bankers isn't good? {#Think}


miamizsun

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Posted: Apr 2, 2013 - 11:22am

 rexi wrote:

Public vs. private or government vs. non-government is another one of those dichotomies I'd be rather skeptical of (see the link below).

I agree that for capitalism to work, those with the will and ability to produce something the market (i.e. a group of heterogenous humans armed with cash) desires, should be rewarded with cash of their own. That will create inequality.The problem lies in how you define coercion.

Arguing that 'people use political power to create coercion' to conclude that if political power is minimized there will be no more coercion is a logical fallacy of the first order. I mean, the philosopher guy gives tons of examples of coercion that have nothing in the faintest to do with politics. And btw., the socialist critique of capitalism is based on a story of coercion. Workers must sell their labour for money which they need to buy basic necessities. They are coerced by those who own (> private property) the means of production and thus the means of production should be socialized. I would argue that there cannot be a world free of coercion. And building an economic model (whether socialist or libertarian) based on such a make-belief world is nonsensical. Only economists or those they represent could come up with such crap.

 

“the beginning of wisdom is to call things by their right (proper) names”

 chinese proverb

 

forget labels, think voluntary (or peaceful) versus violence (or coercion)

—————————————————————————————————————————————————————————————————

co·er·cion

<koh-ur-shuhn>
noun
1.
the act of coercing; use of force or intimidation to obtain compliance.
2.
force or the power to use force in gaining compliance, as by a government or police force.

—————————————————————————————————————————————————————————————————
there will always be a few bad guys, initiating some fraud, theft coercion and violence

all i'm saying is that we won't do ourselves any good by institutionalizing (or legalizing) it

we should be looking for ways to substitute peaceful voluntary interaction for the force, coercion and violence that we currently use in society

human rights - equal for everyone, everywhere (assuming they're peaceful or not initiating force and/or aggression)

regards


 


black321
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Posted: Apr 2, 2013 - 10:05am

yeah, brilliant indeed.  The economy needs us to consume more stuff, mostly imported from overseas, rather than invest in new technologies and businesses that provide real long term returns. 
Red_Dragon
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Posted: Apr 2, 2013 - 9:57am

 aflanigan wrote:
Another economic stimulus idea that's bound to be wildly popular with libertarians and Austrian economists:

Helicopter Money!!

 
brilliant! can't wait to get my check!
aflanigan

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Posted: Apr 2, 2013 - 9:51am

Another economic stimulus idea that's bound to be wildly popular with libertarians and Austrian economists:

Helicopter Money!!
rexi

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Posted: Mar 25, 2013 - 5:34am

 rexi wrote:

Re: And btw., the socialist critique of capitalism is based on a story of coercion. 
 
Just came across this:

Yes, Libertarians Really Are Lazy Marxists


sirdroseph
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Posted: Mar 25, 2013 - 4:35am


Pharming
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Posted: Mar 24, 2013 - 12:59pm

Courtesy of Zerohedge.com... excellent post...thoughts?

"Submitted by 'Jim in MN',

The hallmark of human nature is adaptability.  Faced with a changing environment, the human spirit and its social manifestations change in response.  But once the human endeavor itself creates the environment, how can such adaptation be a simple exercise in instinct?  Simply put, it cannot.  For better or for worse, the subjective element must dictate the outcome.  This subjective element is often called judgment.  But under today’s circumstances, a better term might be ‘taste’.  The question then becomes: do the powerful have good taste?  The fate of the rest of us hangs on the answer, as the fate of the slave rests upon the master’s whim.

Consider the global financial crisis.  The unfettered power and unrestrained corruption that is the hallmark of today’s society has been allowed to play out with predictable results.  There is no need to document the disaster that has befallen the people around the world, saddled with debt, stuck with stagnant wages if they can find work at all, and subject to worsening standards of living, with civil liberties eroding so quickly that only the authorities seem to know what is left on any given day (and they’re not telling).

Throughout all of this, the global elites have displayed consistently worsening signs of decadence, psychopathic tendencies, and overall detachment from reality.  And who can blame them?  There has been no tap on the shoulder, no knock on the door, no raid on the office to indicate that anything is seriously wrong.  The destruction of a generation’s potential, the removal of trillions from the rest of the population has not been punished.  It has been handsomely, indeed shamelessly, rewarded.

Chrystia Freeland, writing in The Atlantic in early 2011, noted this increasing abstraction from reality, based on her experience trailing and interviewing the global elite: 

This plutocratic fantasy is, of course, just that: no matter how smart and innovative and industrious the super-elite may be, they can’t exist without the wider community. Even setting aside the financial bailouts recently supplied by the governments of the world, the rich need the rest of us as workers, clients, and consumers. Yet, as a metaphor, Galt’s Gulch has an ominous ring at a time when the business elite view themselves increasingly as a global community, distinguished by their unique talents and above such parochial concerns as national identity, or devoting “their” taxes to paying down “our” budget deficit. They may not be isolating themselves geographically, as Rand fantasized. But they appear to be isolating themselves ideologically, which in the end may be of greater consequence.

Taste, in the end, may dictate destiny.  If this seems as alarming as it is trite, rest assured that it is.  Just as one’s taste in food can run to fish or fowl, so the taste of the elite can run a different, more critical gamut—from risk aversion to risk seeking.  In a terminally decadent, corrupt society, fantasy runs rampant.  Reality has little consequence, and therefore plays an increasingly removed, abstracted role in setting limits on behavior.  While we gape at the grotesque excesses of a Caligula, our global elites run financial schemes that are no less shocking. 

The filigreed madness and the outright lies embedded in today’s routine financial scams, carefully evaluated for their nearness to the legal line in slide shows crafted from the finest, most velvety color palettes, would put Roman or Babylonian deviants to shame.  The number of lives sacrificed to maintain these delicate minarets of risk would make Genghis Khan blush. 

It would be far more honest, and possibly more aesthetic, for the elite to wear the bones of their victims as trophies stuck through their noses.  But that would require truly colossal noses. 

We have arrived at the end of the line, like Micheal Moorcock’s poignant, omniscient partygoers in ‘The Hollow Lands’, who have endless reserves of power, but little left to do with it (a typical sentiment being something like: "’I enjoyed Flags,’ he said. ‘Particularly when My Lady Charlotina made that delicious one which covered the whole of the western hemisphere.’").

The more the tastes of the elite run to risky business, the more fragile the complex edifice of global finance becomes.  Spectacular failures, mind-boggling crashes, and mighty people instantly reduced to public mockeries through their own perversion or crimes become the norm.  In this madhouse of absolute power, would it be so strange to hear of another Incitatus?  The original, of course, being the favorite horse of the Emperor Caligula: 

To prevent Incitatus, his favourite horse, from growing restive he always picketed the neighbour-hood with troops on the day before the races, ordering them to enforce absolute silence. Incitatus owned a marble stable, an ivory stall, and a jewelled collar; also a house, furniture, and slaves - to provide suitable entertainment for guests whom Caligula invited in its name. It is said that he even planned to award Incitatus a consulship.

Suetonius: Caligula 55

Such is the contemporary reality we live in.  People try to live their lives, to avert their eyes, to hide their children from the sight and effect of the monstrous cavorting of the elites.  But they loom above all others on the horizon, intent on their self-aggrandizing excesses, like a constant, living, writhing surrealist mountain range.  And the uncaring fragments of the elites’ collapsing ‘entertainments’ rain down like meteors upon the rest of the population.

Perhaps a crazed fad for frugality will break out and suppress the urges of the elites.  In the meantime, hide your valuables as well as you can, and treat your children with the sympathy they deserve.  They are among the chief victims of our era’s unholy orgies of risk and corruption.  Frugality or fragility?  The choice is yours, as well as theirs."


rexi

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Posted: Mar 24, 2013 - 12:28pm

 miamizsun wrote:

i think what horowitz is saying is that people are unique in their wants, needs, desires, etc.

and as long as they make peaceful voluntary exchanges and transactions free from coercion there's nothing wrong with that

further if that produces a difference in the economic scenario or "inequality" between them he can live with that

where he has a problem is when people use political power to create coercion and legal force to fleece people to create that inequality

regards
 
Public vs. private or government vs. non-government is another one of those dichotomies I'd be rather skeptical of (see the link below).

I agree that for capitalism to work, those with the will and ability to produce something the market (i.e. a group of heterogenous humans armed with cash) desires, should be rewarded with cash of their own. That will create inequality.The problem lies in how you define coercion.

Arguing that 'people use political power to create coercion' to conclude that if political power is minimized there will be no more coercion is a logical fallacy of the first order. I mean, the philosopher guy gives tons of examples of coercion that have nothing in the faintest to do with politics. And btw., the socialist critique of capitalism is based on a story of coercion. Workers must sell their labour for money which they need to buy basic necessities. They are coerced by those who own (> private property) the means of production and thus the means of production should be socialized. I would argue that there cannot be a world free of coercion. And building an economic model (whether socialist or libertarian) based on such a make-belief world is nonsensical. Only economists or those they represent could come up with such crap.
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